What is a Will?

Haz clic en la esquina superior derecha para la traducción al Español.

What happens to your property when you die? What about any debt you may have? Wills are incredibly important and powerful documents. Listen as local estate planning attorney, Roxie Parker explains the importance of having a will in Texas.

Planning for the distribution of your property after your death is a crucial step in ensuring that you have the final say in what happens with your assets. To do that you must have a will, but what is a will?

What is a Will?

In its simplest terms a will serves as a legal document controlling the disposition of your property upon your death. Basically, the will states who gets what, also known as disposition, and names someone who will be in charge of taking care of things after your death. That person is known as an independent executor.

Why Do I Need a Will?

A will is a very powerful document. It gives you the ability to choose your beneficiaries, making sure that your estate will be distributed according to your wishes. If you die without a valid will, you are considered intestate. When this happens Texas laws determine the disposition of your property, who gets what, in a predetermined order. If if you die without a will you also have no control over the disposition of your property after death, and you have no control over who will be in charge of taking care of your affairs after you die.

While planning for your death and distribution of your assets can be uncomfortable proper planning through a well-crafted will is essential to ensure your wishes are carried out upon your passing.