Creating a Last Will and Testament is one of the most important steps you can take to protect your family and your legacy. A properly drafted will is a core part of estate planning in Houston, ensuring that your property is distributed according to your wishes and that important decisions are not left to the courts.
If you own significant assets or simply want to make things easier for loved ones, a will may be an option for you.
What Does a Last Will Do?
A will outlines how your property will be distributed after your death (and to whom). In your will, you name beneficiaries who will receive your real estate, bank accounts, personal property, and other assets.
Your will enables you to appoint an executor (also called a personal representative). This person is responsible for managing your estate, paying debts and taxes, and carrying out the instructions in the will. Without a will, the court will appoint an administrator.
If you have minor children, you can use your will to name a guardian to care for them if something happens to you. Without such a document, a judge will likely decide who raises your children, which may not align with your preferences.
Who Should Consider Drafting a Will?
Every adult should consider drafting a will, regardless of income or family size. Without a will, Texas intestacy laws determine who receives your assets, which may not align with your wishes.
A will is not only for the wealthy. It is a foundational estate planning tool for:
- Parents with minor children
- Homeowners or real estate investors
- Business owners
- Individuals with blended families
- Anyone who wants control over how their assets are distributed
Even young adults benefit from having a will, especially if they own property, have savings, or want to name someone to handle their affairs.
Requirements for a Valid Will
Texas law sets specific requirements for a will to be legally valid. In most cases, the person creating the will (called the testator) must:
- Be at least 18 years old
- Be of sound mind at the time the will is signed
- Clearly express intent to create a will
- Sign the will
Most written wills must also be signed by two credible witnesses who are not named as beneficiaries of the will. To make the probate process in Houston smoother, many people choose to create a “self-proving” will, which includes notarized affidavits from the testator and witnesses. This helps avoid delays and complicated court procedures.
When You Should Consider a Living Trust
While a will is an essential and fundamental estate planning document, some individuals benefit from creating a living trust. A trust allows you to avoid probate and transfer assets directly to beneficiaries, saving time and providing privacy.
You may want to consider a living trust if you:
- Own significant assets or multiple properties
- Want to avoid probate court
- Have a blended family
- Want to provide long-term financial management for children or dependents
- Desire greater privacy regarding asset distribution
A will and a trust often work together, and a “pour-over” will is typically used to transfer any remaining assets into the trust after death.
Contact a Texas Estate Planning Lawyer for Help
Drafting a will helps you protect your loved ones and ensures your wishes are honored after your death. At Porter Law Firm, a Houston estate planning lawyer can help you create a legally valid will and build a plan that fits your unique goals.
Contact us today to schedule a confidential consultation to learn more about your options.