Writing a will should not be overly complicated. With the right Houston estate planning attorney helping move things along, many clients find the process to be relatively smooth. There are, however, important things to include in your will that could be detrimental to leave out. Today, we focus on a few of the provisions you should make sure to put into your Texas will. Overall, your will should be an effective tool that allows you to achieve your financial goals and that makes things as easy as possible on your loved ones after you are gone.
Step 1: Name an Estate Executor
First and foremost, you should name an executor of your estate. This person should be someone you trust who is familiar with your will and estate planning documents. The executor will be responsible for carrying out the will once you are gone; therefore, choose your estate executor wisely. Many individuals choose an adult child, a sibling, or a trusted friend as their executor. When in doubt, speak with your estate planning attorney about who might be the right executor for your estate plan.
Step 2: Provide for Your Assets
The parts of your will that leave assets to beneficiaries should be as specific as possible. This section of the will should also be thorough; every significant asset you own should be included. Writing your will is also an appropriate time to think through any individual items you might want to give to your loved ones. For example, do you have valuable artwork or sentimental heirlooms? If so, your will might be a good way to name heirs to inherit these items.
Step 3: Plan for Incapacity
Your will should certainly include provisions that anticipate mental or physical incapacity. While no one wants to plan as if they will one day not be able to make decisions for themselves, including a plan in your will is always a good idea. You might, for example, name a power of attorney. Power of attorney can be designated to make your financial decisions, medical decisions, or both. Whatever route you decide to go, you should make sure your family and loved ones know how to execute the plan if and when they ever need to use it.
Is McCulloch & Miller the Estate Planning Firm for You?
Drafting a will is made easier by experienced Houston estate planning attorneys. At McCulloch & Miller, we take the time to listen to our clients’ goals and think through ways to help them achieve these goals. No estate plan is exactly the same, because no client’s set of circumstances is exactly the same. If you are looking for a trusted, experienced-based group of Houston estate planning attorneys, look no further. We might be the team for you.
At McCulloch & Miller, we cover estate planning, elder law issues, trusts, public benefits planning, special needs planning, and the probate process. For a consultation with a Houston estate planning attorney from our firm, give us a call today at 713-903-7879. You can also fill out our online form with your contact information to have an attorney get back in touch with you as soon as possible.