Planning for death is not typically a preferred subject for most people in Texas. Of course, death is inevitable and something that will happen to everyone. As such, it makes good sense to prepare for this inevitable event. Creating a will is a way to ensure that one’s property and assets are secured and passed down as intended after they die. Here are a couple of reasons why a will is beneficial for nearly everyone.
Ensuring assets are distributed as intended
A properly drafted and executed will is a great way to make sure that a person’s financial assets as well as personal property are left to rightful heirs. If an individual dies without a will in place, it’s then considered an intestate estate, which means that state law specifies how estate assets are distributed. By having a will in place, assets and money can go to those that the estate wants them to go to, including precious family heirlooms.
Creating a will is especially important for parents of young children. With a will, parents can establish guardian/s for their children’ should both parents pass away. If both parents die without a will, a judge would determine where the children should be placed. Parents can also use a will to instruct out how a business or large assets should be divided.
Help with estate planning
A will is a useful estate planning tool that could benefit nearly every family. Those in Texas who have questions or want to know more about setting up an estate plan could get help by sitting down with a knowledgeable legal professional. An experienced attorney can assist families in creating a plan that secures their future and best suits their specific needs.