A will that is properly drafted in Texas is extremely important to both you and your loved ones. After all, your will just might be the last message your loved ones will get from you. There are different types of wills available that can suit your needs whether your estate is simple and small or complex and large.
A simple will enables you to choose an executor and simply express your desires. It reduces the expense and time of the process of probate. This will option is fitting if you’re interested in passing on your property to just a couple of beneficiaries or to one beneficiary and do not have to consider any major family disputes.
A complex will might involve using provisions for special circumstances as well as beneficiary designations on your life insurance and retirement accounts. You can also use this type of will if you would like to set up a trust, or you may use it for tax planning purposes. A tax planning will is designed to minimize estate taxes, so it offers the benefit of preventing your loved ones from needing to sell an asset, such as real estate or a business, just so that they can cover estate taxes. Meanwhile, a will with a built-in trust is ideal if you plan to leave your estate to someone who lacks the maturity needed to handle your assets, who is young or who has special needs.
People understandably would rather discuss topics that do not involve death. However, wills are essential for protecting your assets in the event of your death as well as making sure that your loved ones end up with the assets you want them to have. A qualified attorney can explain to you the types of wills available and help you to choose one that will allow you to achieve your goals in Texas.