You may think it's a bit morbid to think about your death and plan for that eventuality in a will but according to one lawyer it's smart way to be prepared for whenever your time is up. It's supposed to help make your leave easier for those you leave behind.
"A will is a document that is signed by an individual during their lifetime that is intended to control their estate after they pass away," attorney Benjamin Garcia said.
It controls who will manage the estate and who will receive it.
Garcia says everyone needs one.
"If you don't have one your estate is going to pass into the laws of intestacy. Intestacy is the laws in the state of Texas of who inherits what and sometimes it starts splitting things up between your spouse and your children, or your children from a previous relationship," Garcia explained.
Even if you don't think you have many assets it's still best to have a will just in case.
"II can think of a case I'm handling right now where a fellow apparently according to his family had, 'nothing but the clothes on his back.'Turns out he actually has some intellectual property, he was a songwriter. Even though it seemed he only had the clothes on his back he should have had a will," Garcia said.
A will is one of the easiest documents to prepare in regards to the law, according to Garcia. It can take just one meeting with a lawyer depending on the size of the estate. The probate process then puts the directions spelled out in the will into action after death.
"It's the legal process where a will is approved by a judge, a person is appointed as the executor of the estate, sort of like the manager," Garcia explained. "The executor is in charge of gathering all the assets making sure any debts are paid if there are any assets left after the debts are paid then distributing to the heirs."
A little pre-planning now for the inevitable will help make it easier for your loved ones who will be going through a difficult time when the end of your time comes.
