How to Properly Set Up Your Legal Will
What is a Legal Will?
A Legal Will, also known as an advance directive, gives the bearer the right to state their final issues in regards to topics such as distribution of wealth and assets after death, medical care, financial wealth, appointed guardians for any minor children, etc.
When you die without a will and without estate plans in Texas, the law will dictate how the person’s assets will be distributed. It can be a long and stressful process for family members without having a will. A common misconception is that a will avoids probate. A will will actually be the guide for the probate judge on how the assets should be distributed accordingly.
How to Prepare the Will
Two important things to consider for your legal will:
1. Who will inherit your estate?
This question will determine who will receive your assets (your children, a charity or organization) and in which proportions will each entity receive it.
2. Who will be your representative?
You will have to choose a personal representative that will have the responsibility to administer the estate. This will be the person to notify the beneficiaries of your will, go through the distribution and even arrange the funeral services.
How to get Started
At iLaw USA, we can help you put into effect your legal will. There are different kinds of wills, such as basic wills and living wills and we can walk you through which one best fits your case.
Let us help you put your wishes into writing. Contact us today at (469) 998-iLaw (4529).