Let's say you have property that you want to be passed down in a certain way after your death. The laws in each state govern the rules surrounding property division at death. In Texas, there is a certain succession that occurs when a person does not have a will and it differs substantially than most would expect. Legal battles can take a long time and are emotionally exhausting for grieving family members. Here are a few reasons why you should have a will:
Plan for the unknown
Get organized. Whether its through writing down everything you own to items you had promised to someone. A will can help you make sure everything will be distributed the way you see fit.
Peace of mind
Once you have your wishes written down in an official form you can know that your wishes will be followed under the law.
Gifts
A will gives the testator the chance to give something that will not be included under the state succession such as a gift to a friend or a relative.
Family Reasons
You can pick a guardian if you have young children. You can also set up a trust, which is a legal instrument that transfers certain property to a trustee for the benefit of the beneficiaries. The person who makes the will can pick who the trustee will be and in which the property will be distributed to the beneficiaries or minor children.
Business Reasons
Make sure that your company or business interest in a company is passed down to your heirs or to someone you trust. According to studies, 70% of family businesses do not pass the first generation due to lack of estate planning.
Call us today at 214-515-0000 to schedule a Wills consultation with one of our attorneys. We offer Islamic wills as well. We charge a flat fee for will drafting, any changes or updates will be free of charge.
