Your will is one of the most important legal documents you can sign. A will is all about control. It is your way of having some control over what is important to you when you can no longer verbally state your wishes in a way that protects your family.
When you are drafting a will, you essentially begin with your wishes and a piece of paper. You take on the role of the testator in writing down your wishes. A testator is simply the legal word for a person who has made a will.
Your will reflects what is important to you and what you want to happen, both as you age and when you die. These are not decisions that you should make on the spur of the moment. Instead, you should make them after conferring with your family and meeting with an experienced estate planning lawyer.
The Legal Requirements for a Valid Will
You must ensure there is as little question as possible about the validity of your will. If a will does not meet all the legal requirements, a court can declare it invalid and make decisions about your estate potentially contrary to your wishes.
There are two types of valid wills in Texas: an attested will and a holographic will.
An attested will must be:
- In writing
- Signed by the testator (or by another person on behalf of the testator)
- Witnessed by two people who are at least 14 years of age
- Made by someone who has the legal and testamentary capacity (meaning the testator must be over 18 years old and of sound mind)
Our attorneys only prepare attested wills in order to ensure all legal requirements are met and to ensure the validity of the document in probate court.
A holographic will, on the other hand, is a will handwritten by the testator. In order to be valid, the entire will must be completed in the testator’s handwriting and signed, but does not require witness signatures. A holographic will is most likely not completed with the help of an attorney. Because the average person is probably not familiar with the legal terminology and/or provisions typically included in a will, this could all place additional burdens – both in terms of time and financial obligations – on the beneficiaries of the estate. It could also mean the probate court could interpret the will differently than the testator intended.
What is In a Last Will and Testament?
One of the main components of a last will and testament is the division of your assets to your beneficiaries. This includes anything of monetary or sentimental value, including real estate, investments, cash, family heirlooms, art or collectables, and much more. You have the option to leave your possessions to family members, friends, businesses, trusts, or non-profits. Certain assets should not be included in your will, however, such as life insurance policies or any financial asset with a designated beneficiary (e.g. a retirement account or bank account). Our attorneys at Towson Law will review all of your assets with you and advise you on what should and should not be included in your will.
A will does much more than just divide a person’s assets. Your will may also state your wishes for how you want your minor children to be raised, including matters such as who their legal guardian should be, and religion and education choices. It is not enough to tell someone verbally your wishes for your children; everything must be in writing. If you die without a will when you have minor children, the court will need to get involved, and you would lose all say in what happens to them.
Your will should also appoint an executor. The executor of a will is a person entrusted with handling the affairs of your estate. This means they will ensure assets are distributed to your named beneficiaries, settle any unpaid debts you may owe, and even file a final tax return on your behalf. An executor should be someone whom you trust and who has the capability to deal with finances and the legal process. If you do not name an executor in your will, then the probate court will name an administrator to your estate who will then serve in a similar capacity.
Texas Lawyer Experienced in Wills
Not only must your will be valid, but it must also be correct according to the Texas Estates Code. Every single comma and word will be strictly construed, and any mistakes could introduce additional complications in the probate process. The wrong wording may even invalidate the will. That’s why it is so important to work with an attorney when writing your last will and testament.
The call that you make to begin an estate plan is one of the most important ones you can make to protect your family. Towson Law will work with you to establish your entire estate plan or to review and update the one that you already have. Contact us today online or call us at (817) 856-0270 to get started on this critical process.