By the Estate Planning Attorneys at Smith & Garg, LLC, serving The Woodlands, Spring, Houston, Conroe, Humble, Kingwood, Tomball, Cypress, Huntsville, Westchase, Southwest, Sugar Land, West Oaks, Alief, Memorial, River Oaks, Stafford, Katy, and Missouri City.

WHAT IS A WILL AND WHAT DOES IT DO?

A Last Will and Testament is a legal document that allows you to convey your wishes as to how your property should be distributed and other affairs should be handled upon your death. One of the main functions of this is document is to allow you to transfer your assets in the manner you see fit, rather in the manner determined by Texas’ default intestacy laws. Through a validly executed Will, you may devise and bequeath all title and interest in the property you own at the time of your death to the persons, charities or other entities of your choosing.

Along with providing for “who gets what,” a Will also allows you to appoint who you want to preside over your estate and wrap up your affairs (your “executor”), select who you want to provide the care and custody of your minor children (a “guardian”), provide how you want your estate handled in the probate court (“independent administration” or “dependent administration”), and direct how your debts and taxes will be paid.

In order for a Will to be valid, it must be executed by an individual who is at least 18 years of age (or if under 18, who is lawfully married or a member of the armed services) and of sound mind. Thus you must have capacity to understand what you own and how you are choosing to distribute what you own. Other statutory procedural requirements must be met, including regulations regarding execution, witnessing, and self-proof.

When a Will is “admitted to probate,” it is essentially approved as valid by a probate court. Once the Will is admitted, your executor will take an oath and receive letters testamentary, authorizing him or her to deal with your accounts and other assets in distributing your estate according to the terms of the Will.

Thus a Last Will and Testament is an important legal document that should be drafted with both careful precision and thorough consideration. This document will allow your loved ones to carry out your final wishes, your financial goals, and your family legacy.

Call Smith and Garg today at 281.210.0010 or complete our Contact Form and let us assist you with your wills and trusts.