Wills

Your will is a legal document by which you designate the persons who will receive the assets you own. A will can also be the instrument used to appoint legal guardians for your minor children. Talk to a lawyer at Clausen & Centrich to determine what you need in your will and how you can make your wishes clear. If you do not have a will, upon death your assets will be divided according to the intestacy laws of the state of Texas.

If you have a will, it is a good idea to review it periodically to assure that it continues to be accurate and reflect your current wishes. A will must be executed in the presence of two witnesses and acknowledged by a Notary Public. A will properly implemented in one state will be valid in any other state in which death may occur.  However the planning done to comply with one state’s laws may be ineffective at protecting your interests in Texas.

on 10/24/2016 by Super User

A will does not avoid the expense, delay, and publicity of a probate proceeding, nor does it help to reduce estate tax costs or protect your assets from the costs associated with long-term care. This is why a trust is usually recommended in addition to a will.

on 10/24/2016 by Super User

A legal will can prevent your property from being distributed according to the provisions of state law. A will does not override a beneficiary designation under a life insurance policy, retirement plan, or a joint form of ownership. Many individuals unfortunately find out too late that a family member’s will does not carry out that person’s wishes. Our estate planning attorneys can help you determine if a will is sufficient for your needs.

on 10/24/2016 by Super User