Last Will and Testament Lawyers in Waco Providing Peace of Mind Until Your Final Day
When you pass away, it can be difficult and stressful if your family does not know your final wishes and how to manage the assets and investments you left behind. Having a properly prepared last will and testament is the best way to leave a comprehensive plan for your loved ones and spare them from dealing with your estate unprepared.
Preparing for these scenarios ahead of time can be difficult, especially if you have never dealt with estate planning before. Having an experienced and compassionate legal team on your side ensures that your will can hold up to the standards of Texas’s probate court system and that you have left no stone unturned in planning for the future of your estate.
Take care of your family ahead of time by consulting with our knowledgeable will lawyers at Rainey & Rainey, Attorneys at Law, LP today. Don’t wait! Call us at (254) 457-5083 for an initial consultation and to discuss your specific wishes and needs.
What is a Last Will and Testament?
Any and all assets or investments you own when you pass away are considered parts of your estate. Upon your death, if your loved ones need assistance accessing your estate, they will need to pursue probate, where the local probate court decides how to distribute it appropriately. If you have a properly-drafted legal document known as a Last Will and Testament, then the court will determine its validity. If it is found valid by meeting all the requirements, then your named executor or personal representative will distribute your estate according to the final wishes and instructions outlined within it.
Your property and assets are appraised and inventoried, and then any debts you owe are paid by settling liquid assets or liquidating tangible holdings if there is insufficient funding.
If you do not have a will, your estate enters a state known as intestate. In this scenario, loved ones or descendants can submit an application to the local probate court. A judge will order someone to be appointed as administrator and your estate to be distributed according to local statutes. This may include your heirs or descendants or next of kin. Loved ones have no input on the distribution.
What is a Living Will?
A “living will” is different from a Last Will and Testament. A Living Will, otherwise known as a Directive to Physicians, or an advanced directive, is a separate document that addresses the possibility of future medical issues by spelling out particular instructions in the event you are incapacitated or otherwise lose the ability to make competent legal and medical decisions for yourself. This document often works hand-in-hand with medical power of attorney, which is used to appoint someone to act on your behalf in such situations.
The attorneys at Rainey & Rainey have decades of experience drafting wills that accomplish your wishes and address the needs of your estate and your beneficiaries.
What are the Steps to Writing a Will?
There are several steps involved in drafting a valid will, including:
- Choosing a person you trust to be the executor of your will, along with a backup in case that person is unavailable.
- Selecting a guardian for minor children, if you have any.
- Specifying how you wish to distribute your assets
- Making sure the will is legally executed, including proper notarization and witnesses.
- Making copies and storing the original in a safe place where only trusted people have access.
Although it may be tempting to attempt to draft your will on your own, having licensed and knowledgeable estate planning attorneys on your side gives you the resources and information you need to ensure that your documentation is found valid in probate court and that your wishes are carried out successfully. Contact our legal team today to set up an initial consultation and see how we can help you accomplish your estate planning goals.
How Can Our Law Firm Help You With Your Will?
Rainey and Rainey, Attorneys at Law, LP, is the premier law firm for Texans planning for the future of their estates. Our talented legal team will be happy to help guide you through the process of successfully creating a proper Last Will and Testament. Contact us at (254) 457-5083 today to schedule an initial consultation.