Will Category Archives — Page 6 of 14 — Houston Estate Planning and Elder Law Attorney Blog Published by Houston, Texas Estate Planning and Elder Lawyers

When Is It Time to Update A Will?

Published on: July 23, 2019 | By McCulloch & Miller, PLLC

Notice that the title is not “if” you need to update a will, but “when.” A will is like the family pet—it can protect the house and demonstrate your love for your family. However, you have to take care of it.

People often comment when they complete their estate planning, that they feel so good to have done this very important task. It’s a great feeling to know that you’ve made the necessary preparations to protect your family and preserve your legacy. However, this is not a one-and-done event.

Thrive Global’s recent article, “7 Reasons Why You Need to Review your Will Right Now,” says it’s extremely important that you regularly update your will to avoid any potential confusion and extra stress for your family at a very emotional time. As circumstances change, you need to have your will reflect changes in your life. As time passes and your situation changes, your will may become invalid, obsolete or even create added confusion, when the time comes for your will to be administered.

Why A Will is Not a Do-It-Yourself Project

Published on: February 13, 2019 | By McCulloch & Miller, PLLC

Writing your own will is a lot like trying to do your own dental work. You can brush, floss and even use a water flosser, but the rest is best left to the trained professional.

It’s a fairly common question: “Why can’t I download a form and create my own will?” However, estate plans, and that includes wills, are important legal documents and getting things wrong can have long-lasting consequences.

The Frisky‘s recent article, “Why You Should Hire A Lawyer to Write Your Estate Plan,” says that writing your own estate plan can be a complicated thing—and one that a non-attorney may find very difficult.

If You Don’t Have a Will Yet, You Should Start Now

Published on: October 12, 2018 | By McCulloch & Miller, PLLC

It’s understood that everyone needs a will. However, many people put it off. Don’t be one of those people. Your family will remember, and it won’t be a happy memory!

Celebrities aren’t the only ones who fail to plan for their passing. The difference is, their failures can become instructive for the general public. If we don’t have a will, only our family will know how much time, expense and stress occurs because of a failure to plan.

Merrill Lynch and the consulting firm Age Wave found in their recent survey that about 50% of study participants age 50 and older didn’t have a will.

Cousin of George Michael Says His Partner is Going to Challenge His Will

Published on: September 4, 2018 | By McCulloch & Miller, PLLC

The wishes of former Wham! singer George Michael are bring carried out, just a few months shy of the two-year anniversary of his death.

Among the information being shared by Andros Georgiou, a cousin of George Michael, is that all of the organizations and individuals who were mentioned in the late singer’s will have been contacted. However, that wasn’t the only news from Andros.

MSN reports, in the article “George Michael's lover is challenging his will after being left nothing, says cousin,” that Andros told the British newspaper, The Sun, that George Michael didn’t leave anything to Fadi Fawaz, who was George’s on-again, off-again partner since 2012. Fawaz also was the one who found Michael dead in bed in his home in the English village of Goring in Oxfordshire on Christmas Day 2016.

Deciding About Putting Your Estate Plan Online?

Published on: August 28, 2018 | By McCulloch & Miller, PLLC

Whether your estate plan documents are stored in the cloud or a filing cabinet, make sure to tell your family members, representatives and executors where you’ve placed these important documents.

Chances are you spend a lot more time online with your digital assets than you think. With digital assets and our comfort level with life online growing daily, it’s a matter of time before your start wondering about placing your documents in the cloud. However, as noted by CNBC in a recent article, “Here's what you need to know before storing your will online,” there are pros and cons to this brave new world.

Some of the benefits to storing important information online, include portability and ease of access. Your documents will be available anywhere there’s an internet connection.

A Partial Checklist for Your Will

Published on: July 13, 2018 | By McCulloch & Miller, PLLC

Having a will prepared is a gift of kindness to your loved ones. They will appreciate the effort to care for them, after you’ve passed on.

If you need another reason to have a will prepared, consider the potential for conflict among loved ones who will have to guess about what your wishes were during a very difficult time. You can spare them that distress, by preparing your will and estate plan in advance.

US News & World Report’s article, “10 Steps to Writing a Will,” says that if you've been procrastinating on completing the task, here's your opportunity to cross it off your list. You can get going with these simple steps.

Have It Your Way, With a Will

Published on: July 2, 2018 | By McCulloch & Miller, PLLC

Without a will, decisions about your life, property and children will be made by someone who does not know you or your family. With a will, you have the ability to express your wishes. You need a will!

Having a will is not just for wealthy folks, who need to pass large amounts of money across generations. It is a legal document that protects you while you are living, protects minor children if you die and also distributes property after you pass. Less than half of all adults in America have an estate plan, according to a 2017 survey by Caring.com, and what’s worse, only 36% with children under the age of 18 have a will.

Inside Indiana Business’ recent article, “With a Will, It's Done Your Way,” explained that if you die without a will (i.e., intestate), the law of the state where you reside determines how your property will be distributed. For example, in Indiana, here’s what happens:

Selecting an Executor: Not Always Easy

Published on: May 24, 2018 | By McCulloch & Miller, PLLC

Don’t delay finalizing your estate plan, because determining who to name as your executor is difficult. Here’s some help to figure out how to make this important decision.

If there are no family members or friends with the necessary skills, your best option may be to name your attorney as the third-party executor of your will. A useful article from nj.com, “Who should be executor of your will?” explains how this works.

An executor is a person you name in your will or who is appointed by the court and is given the legal responsibility to address a deceased person's remaining financial obligations. An executor is responsible for paying debts and creditors, filing tax returns, paying taxes, and distributing the estate's assets, pursuant to the deceased person's wishes as stated in the will.

What Goes into a Good Will?

Published on: April 23, 2018 | By McCulloch & Miller, PLLC

If you are an adult, you need a will. If you are a parent, you need a will that names guardians for your minor children. Anyone who is an adult, should have a will.

The core of an estate plan is a document known as a will, the legal document that tells your heirs and the court how you want your assets handled upon your death. If you don’t have a will and you die, decisions about the distribution of your possessions and property are made by a judge, who likely doesn’t know who you are, or what you might have wanted to happen to your assets. If you have minor children and have not had a will created, then a judge will also be the one making the decisions about your children. That’s probably not what you or your family want to have happen.

Health Day’s recent article, “Wills & Living Wills,” provides some general rules for writing a will:

What You Need to Know About Wills

Published on: September 29, 2017 | By McCulloch & Miller, PLLC

Your best bet for making or changing a will, is to sit down with an experienced estate planning attorney, so that your will won’t be invalid. Mistakes in wills are not easily fixed.

Having an estate plan in place and discussing your estate plan with your loved ones in advance, can help eliminate some of the emotional turmoil that accompanies death. The South Coast Register from down under offers some worthwhile suggestions in “Dying to Know Day: Wills and won’ts of estate planning.”

A will is a legal document that lets you choose the relatives, friends, and charities who you want to inherit your assets when you die.