Bedford Wills Attorneys

Assisting With Estate Planning in Tarrant County, Dallas County, & Denton County

Having a will in Texas is a cost-effective way to distribute your property just as you wish when you pass away. A person who dies without a will is described as "intestate". Texas has laws for intestate succession, but very often the law will not distribute your property the way you prefer. Probating a will in Texas is relatively inexpensive, especially when compared to the process required to distribute the property of a person who dies without a will.

There are several things to consider before consulting with our attorneys about preparing your will. Who will you choose as your Independent Executor? The Independent Executor is the person who identifies and gathers the decedent's assets and distributes them according to the provisions of the will. Who will you choose as the guardian of your minor children? You will also need to consider who will receive your property after you die. You can leave your property to whomever you wish, including your spouse, children, grandchildren, siblings, nieces, nephews, close friends, and charities.

Take the first step toward protecting your estate. Call (817) 934-5922 or reach out online for a free consultation with a knowledgeable Bedford wills lawyer now.

The Importance of Having a Will in Place

A will is a legal document that specifies how your assets and property will be distributed after your death. Without a will, your estate will be subject to Texas state laws regarding intestate succession, which may not reflect your personal wishes.

Creating a will allows you to:

• Designate Beneficiaries: A will ensures that your assets are passed on to the people or organizations you choose, whether they are family members, friends, or charitable organizations.
• Appoint an Executor: A will gives you the ability to name an executor to carry out the instructions in your will. This individual will be responsible for managing your estate, paying debts, and distributing your assets according to your wishes.
• Avoid Legal Disputes: A clearly written will can help prevent misunderstandings or disputes among family members and beneficiaries. It can also reduce the likelihood of costly legal battles over your estate.
• Provide for Minor Children: If you have minor children, a will allows you to designate guardians who will take care of your children in the event of your death.
• Minimize Probate Complications: While a will does not avoid the probate process, having a well-drafted will can make the process smoother and more efficient, ensuring that your wishes are honored.

Having a comprehensive will in place can give you peace of mind knowing that your estate will be handled according to your wishes. Whether you are creating your first will or revising an existing one, a skilled Bedford wills lawyer can guide you through the process and help you make informed decisions.

What to Include in Your Will?

When working with a Bedford wills attorney, it is important to understand what should be included in your will. Each person's estate is unique, so your will should reflect your specific wishes. Common elements of a will include:

• Personal Information: The will should begin by identifying you, the testator (the person creating the will), and stating that it is your last will and testament.
• Appointment of Executor: Your will should name an executor, the person responsible for overseeing your estate and ensuring that your wishes are carried out. It is important to choose someone you trust and who has the organizational skills to handle the responsibilities involved.
• Distribution of Assets: Your will should specify who will inherit your property, including real estate, bank accounts, personal belongings, and investments. You can designate specific items to particular people or make general distributions of your estate.
• Guardianship of Minor Children: If you have minor children, your will should appoint a guardian to care for them in the event of your death. This is one of the most important decisions a parent can make to ensure their children's safety and well-being.
• Trusts: If you wish to create a trust for your beneficiaries, such as a revocable living trust, your will can include provisions for setting up the trust. Trusts can help manage assets for minor children or other beneficiaries who may need assistance in managing their inheritance.
• Funeral and Burial Instructions: While not legally required, you can include preferences for your funeral and burial arrangements in your will. This can provide clarity for your family and help ensure that your wishes are followed.
• Special Instructions for Specific Assets: You may want to include instructions for unique items, such as family heirlooms, sentimental possessions, or business interests. These provisions can help ensure that your most cherished items go to the right people.
• Disinheritance Clause: If you wish to exclude someone from inheriting part of your estate, you can include a disinheritance clause in your will. This can prevent family members or others from claiming a share of your estate when you do not want them to.

Ready to start your estate planning? Contact a trusted Bedford wills lawyer now for a free consultation by calling (817) 934-5922 or reaching out online.

Updating Your Will

Your will is not a one-time document. Over the course of your life, your circumstances will change, and so should your will. Major life events such as marriage, divorce, the birth of children, or changes in financial circumstances may necessitate an update to your will. It is essential to review your will periodically to ensure that it accurately reflects your current wishes.

In addition to life events, changes in the law or tax code may also impact the effectiveness of your will. For example, if there are changes to estate tax laws, your estate plan may need to be adjusted to minimize taxes or avoid unnecessary complications. A Bedford wills lawyer can help you assess whether your will needs to be updated and can make the necessary revisions to ensure that it remains valid and effective.

Probate Process and How a Will Affects It

In Texas, the probate process is required when a person passes away and has assets that need to be distributed according to a will. Probate is the legal process through which a will is validated and the executor is authorized to carry out the wishes outlined in the will. While having a will does not avoid probate, it can simplify and expedite the process.

Without a valid will, the state of Texas will apply intestate succession laws to determine how your estate will be divided. This could lead to complications and disputes among family members who may have different expectations for how your assets should be distributed. A will can help avoid these issues by clearly stating your wishes.

While probate can be time-consuming and costly, a Bedford wills attorney can help minimize complications and ensure the process goes smoothly. A well-drafted will can also provide peace of mind to your loved ones by providing clear instructions for how your estate should be handled.

The Role of a Bedford Wills Lawyer in Estate Planning

Creating a will is a critical step in estate planning, but it is just one part of the process. A Bedford wills attorney can help you with a wide range of estate planning issues, including:

Minor Trusts

If your will leaves assets to a minor child, grandchild, or another beneficiary, we can create a trust within your will. A trust is a way to protect the assets while the minor beneficiary matures into a responsible adult. You will need to choose a trustee for the trust. The trustee has broad powers to manage the trust assets and to distribute the property to the minor as financial needs arise. When your beneficiary reaches the specified age in your will, then the beneficiary will have full control of the remaining assets and the trust is dissolved.

Powers of Attorney

Powers of attorney are also crucial documents that can save your family and loved ones from stress and financial burden. You need to plan for those times when you cannot manage your own financial affairs or make your own medical decisions due to severe illness or some other incapacitating event. 

A power of attorney that appoints an agent to make financial and healthcare decisions can be obtained for a very low cost and can save your loved ones thousands of dollars. If you do not appoint an agent through a power of attorney, then your loved ones will likely have to petition the court to appoint a guardian. Guardianship is a time-consuming and expensive process that can be easily avoided by executing a power of attorney.

Getting Started with Your Will

If you are ready to create a will or review your current estate plan, contacting a knowledgeable Bedford wills attorney is the first step. Our team at Holland McGill Law, PLLC, can provide personalized guidance tailored to your unique needs and goals. We take the time to understand your wishes, explain your options, and create a comprehensive estate plan that protects your legacy.

Save your loved ones time and money by having one of our attorneys prepare you a will package. Our goal is to give you peace of mind so that you can enjoy your life knowing that you have provided for your loved ones. Call us at (817) 934-5922 or contact us online today to get started.