Everything You Need to Know About Creating a Will in Houston
As a Houston estate planning attorney, I know it’s important to have your affairs in order and to know what will happen to your assets after you pass away or become incapacitated. However, the majority of Americans don’t have wills and it can be extremely difficult to know where to begin when creating one. In this guide, we’ll help you answer all of your questions about wills in Houston and what you need to do before you finalize yours.
Houston
To Make a Will, You’ll Need an Attorney
If you live in Texas (and many other states), you can make your own will without going through an attorney. What's more, doing so could save you thousands of dollars but it might also jeopardize your intentions and leave loved ones with major headaches. Is it worth it? Probably not. Regardless of where you live, your first step should be getting help from a probate attorney who has experience creating wills for similar cases (estate planning experts are especially likely to ask insightful questions about how various scenarios would play out).
A lawyer can keep costs down by offering affordable flat fees for basic estate plans or setting hourly rates that grow more reasonable as work increases. They'll probably want to meet with you face-to-face at least once if they don't have all the details they need. Lawyers may also handle requests for simple legal documents like powers of attorney and living wills, which may involve different arrangements than drafting a will but still cost less than hiring an attorney just for the will itself. Keep in mind that probate attorneys are often required to provide documentation to their clients indicating the attorney's qualifications and/or registration status, so look for someone with a good reputation before choosing one on price alone.
The attorney may also draft a revocable trust that specifies what will happen to assets upon death, in addition to providing instructions for distributing assets among beneficiaries and appointing a trustee. Even those who decide against using an attorney should consider having some type of formal trust established. Revocable trusts, however, are cheaper because they're created during life rather than posthumously. An attorney can advise you on whether this type of trust is right for your situation or not. What Types of Wills Do Houston Residents Use? There are two main types of wills: Living Wills and Dying Wills.
A living will tells caregivers what medical treatments a person wants or doesn't want under certain circumstances, such as when terminally ill or permanently unconscious. It does not appoint an executor, trustee, or guardian for children; this document only goes into effect when there is no way to make decisions due to incapacity. A dying will instructs heirs how much money they get, who gets specific items (such as jewelry), etc., while bypassing the courts in case something goes wrong with distributing these things after death--think litigation over who gets custody of a child after parents divorce or a car accident leaves both parties unable to communicate.
