There are many tools that individuals in Texas can use to create plans for the distribution of their estates after their deaths. In fact, estate planning can be customized to fit every individual need. Though many believe that this process is only for those who are wealthy and have large estate, it can be important and beneficial for every individual in our state to have a will and other estate planning materials.
Using a will, Texas residents can detail many of their wishes for their estates. This most basic estate planning tool is often used by people who wish to leave certain assets to heirs or to appoint a guardian for minor children. In addition, a will can be used to detail the percentage of the estate that the person creating the estate plan wishes to leave to an individual heir.
There are many elements of a proper will. These are determined by state law and may require an individual to complete a full review of all applicable rules. Included for many creating a will is the need to have the document signed and notarized. In addition, there are several other requirements for a valid will in Texas.
Estate planning is an important action for all in our state and elsewhere. When a will or other estate planning document is available, an estate can proceed through the probate process much more quickly than when no will exists. For this reason alone, it can greatly benefit heirs for an individual to plan their estate as thoroughly as possible so that they do not have to go through a complicated probate situation.
Source: theadvertiser.com, “Wills are always necessary, regardless of assets,” Mary Fox Luquette, Nov. 24, 2012