Why Do I Need a Will?

Great question!  There are days where we feel like a salesman (or saleswoman) trying to “sell” people wills.  The honest truth is that we are not selling a product.  Our Austin will lawyers care about you and want your family to be able to focus on you when you pass away.  We do not want your family to:

·      Worry about what to do with your residence.

·      Get the “run around” from banks because they cannot get access.

·      Be concerned about trying to access funds to pay for your funeral.

All of these situations can be simplified by having a will.

What is a will? A will is a legal document that a law firm, such as our Austin estate planning law firm, prepares to clearly lay out your intentions for when you pass away.  Let’s face it, we are not going to live forever.  Someone will have to take care of our earthly possessions.  The estate planning lawyers at Hardie Alcozer PLLC can help you with that. 

Our will attorney will draft simple wills that pass your real and personal property to your spouse, loved one, children, charities, or whoever you would like.  

We also draft complex wills that transfer your assets into a trust.  What is a trust?  A trust is a legal document that allows your property to avoid probate if properly transferred.

Who needs a will? Everyone!  Using Oprah’s phrase – You need a will and you need a will and YOU need a will!  Everyone should have a will. 

What age should I consider a will?  How old are you today?  Let’s make today be the day you consider a will.  The legal answer is that anyone over the age of 18 can (and should) have a will.   

Do people really have will readings with an estate planning lawyer?  Don’t believe everything you see in movies.  Our office is more than willing to sit down with your family members to go over and discuss your will; however, our will attorneys do not contact your family and read it line-by-line.

What happens if I decide I do not need a will?  In the legal world, this is called dying “intestate.”  What does that mean?  That means that the County Court where you live will decide what happens to your property.  A family member or close friend will need to hire an Austin probate attorney to file an application in the probate records of your county to be appointed as an administrator of your estate.  For the hearing, there would also need to be two people who are disinterested witnesses that can testify in regard to your family history. (Examples: whether you were married, have children, have siblings, and if your parents are still living). The court also appoints an ad litem to do a search of your family history, talk to the disinterested witnesses and file a report to verify the facts in the application are true and correct.

Now that you have decided that a guardianship is not a burden you want your family to have to deal with and you would like a will, what do you do next?  Some things to think about:

1.    I own a house. When I pass away, I want it to go to ___________

2.    I have 401k, annuities and/or IRAs. I want to make sure those pass to _________________.

3.    I have three children. I want to make sure all three get the same amount.

4.    I have three children but one cannot be trusted with money. I want to protect that child and need help figuring out how to do that.

5.    I have a blended family that I would like to make sure each child receives an equal part of my estate.

6.    I have a family member that I want to make sure this specific person does not receive any part of my estate.

7.    Who do I feel would be responsible enough to be the executor of my estate? 

8.    If something happened to that person, who could step in as the backup executor?

Our Austin will lawyer looks forward to discussing what plan fits best for you so we can help you create the most important document needed for you and your family.