Estate Planning
Oct 31, 2023
Beware the Real Hauntings: 5 Estate Nightmares to Avoid This Halloween
Unearth 5 estate planning horrors this Halloween. Dodge probate scares, tax haunts, and beneficiary phantoms. Plan today for a fear-free future.
Creating a valid will is one of the most important foundations of a solid estate plan. After all, if your will isn’t considered valid by a Texas court, then whatever you may have stipulated—any inheritance plans, special wishes, and provisions—will not be taken into account. Instead, the state will fall back upon a default “intestate succession laws,” where your assets are distributed to close relatives according to a determined hierarchy.
If you want to ensure that your assets go to other loved ones apart from your immediate family members, or have specific instructions for how you’d like your funeral service to be conducted, or want to donate money to charity after you’re gone, then a valid will is a must. Thankfully, creating a valid will in Texas is far from complicated.
According to the Texas Statutes Estate Codes, the creator of a valid will must be of sound mind and meet one of the following conditions:
Furthermore, a will must:
Texas is also a state that recognizes holographic wills, which are handwritten wills that are only signed by the creator, sans witnesses. However, these kinds of wills are only created in emergencies and should not be your go-to, standard will.
You should also periodically update your will anytime you experience any major life changes, such as marriages, births, divorces, or deaths.
Contrary to what many may think, having a notary or an estate lawyer prepare a will is not necessary to make a valid document. However, if your estate is particularly complicated or if you have assets across various states and perhaps even countries, then an expert like ClearEstate can ensure that all of your bases are covered. Contact, or book us for a free 30 minute consultation for any questions you might have!