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If you have never thought about what will happen to your assets after your death, you aren’t alone. Did you realize that if you die without a will, your loved ones may not receive your assets and property? When you want to make sure that you care for your loved ones, you need to create a will as part of an estate plan. An experienced lawyer in Weatherford, TX, will assist you in making a will that meets your needs.
What Should I Include in My Estate Plan?
There are several things you should be sure to include in your estate plan. You may choose to add a will, trust, beneficiary designations, durable power of attorney, and guardianships. An experienced estate lawyer in Weatherford, TX, will help determine the parts of the estate plan that are essential in your particular case. The documents that you need in your estate plan will depend on your financial situation, whether you have minor children, and how you wish your assets to be distributed upon your death, among other factors.
Steps to Creating a Good Estate Plan
You will need to review your finances, including your assets, property, and belongings to determine your net worth. Consider your loved ones and designate beneficiaries. Assess the financial needs of your beneficiaries so you can make sure that you provide for them in your will. If you have minor children, make sure that you assign a guardian. Think about a living trust that gives directions for your health care if you become incapacitated. Establish an executor to handle your estate and affairs after your death. Make sure that you discuss your wishes with the guardians and executors that you assign in your will. Get help from a reputable lawyer in Weatherford, TX, to put your preferences into a legal format.
What Happens If I Die Without A Will?
If you pass away without a will, the Texas Probate Code provides for the distribution of your estate. When you die without a will, it is said that you died intestate. The law provides for how individual and community property will be distributed. In general, your immediate family member, such as a spouse, will inherit your estate. If you have children, the estate will also include them in the distribution. However, things can become extremely complicated when you aren’t married when you have step-children and ex-spouses. A probate lawyer in Weatherford, TX, will assist with the process of determining the distribution of your estate after your death.
Legal Help from an Experienced Lawyer in Weatherford, TX
An experienced will and probate attorney will help you draft and execute the documents you need to establish a legal estate plan. You need to make sure that the documents you put into place will hold up in court. You want to have peace of mind that your wishes will be followed after your death and your loved ones will get the share of your estate that you desire. To learn more about estate plans, contact The Law Office of Mark E. Harden to discuss your legal needs.
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