No matter what your outlook is for the coming months, a new year is a new opportunity to benefit your loved ones. Our probate lawyers in McAllen believe one of the best ways to ensure their futures is to draft a will. Drafting a will is simple as long as you remember to include these three factors.
Choose a Will Type
There are only two types of wills accepted and deemed valid by a judge during the probate process. According to the Texas Estate Codes, a will may be written and signed by hand, or, typewritten and signed by you, and a witness in front of two additional witnesses.
Be Mindful of Your Assets
During the probate process, a probate court reviews your entire estate. Then, they distribute your possessions mentioned in your will. Keep in mind, there are some possessions that cannot be distributed in a will. They are known as “non-probate assets.”
• IRAs
• Trusts
• Stocks and bonds
• Joint bank accounts
Name an Executor
The person you choose to manage your estate in a will, is known as an “executor.” It’s vital to choose a person you trust, because if you don’t include an executor in your will, then a probate court will select someone for you. This can potentially interfere with your last wishes.
An executor will be responsible for:
- Creating an inventory of your possessions.
- Clearing any debts or taxes using your estate’s funds.
- Notifying creditors and beneficiaries about the details of the probate hearing.
Get Help When You Need It
While the will-writing process may seem simple, if it isn’t done correctly, your loved ones may not receive their possessions. Secure their years to come and contact our probate lawyers in McAllen. Send us a message online for more information.