What Should You Include in Your Will?



Writing a detailed and error-free will is a sagacious decision. The sooner in life you do it, the better because we are not promised that we will be alive in the morning. A Will not only governs what happens to your belongings after your death, but also helps your reduce the change of arguments among your heirs

Here’s what your will should include.

Guardianship

If you’re a parent, your primary concern should be to ensure that your children are taken care of after your death. This is particularly important if you pass away before your kids are legally adults. The will allows you to name their legal guardians who will look after them after you’re gone.

If you die without deciding the guardianship, the child’s custody will be deciding by the laws of the state of Texas. The problem is that you might not like the person the court chooses to raise your child. Maybe that person has different political views or they’re a different religion or they have substance abuse issues or their abusive or they live really far away from where your kids were being raises.

Beneficiaries

Your Will also allows you to decide who inherits what. In most cases, it isn’t tough to decide.You should name primary beneficiaries as well as contingent beneficiaries who would inherit if a named primary beneficiary pre-deceased you. You can also mention if you want to leave your spouse or children out of your will. Your beneficiaries may include your friends, partner, children, other family members, and charities.

You also need to name an executor to handle the estate and take care of your outstanding debt. Make sure it’s someone who is willing and able. If they’re not willing or if they’re not good with money or organization or honesty, then you probably shouldn’t pick them.. If you’re leaving your property for children, you should must also name an adult who will manage their inheritance or at least put specific UTMA language in the Will. This person is either called a property guardian, property custodian, or trustee.



Assets

Write down all of your significant assets and then decide how you’d want each of the items to be bequeathed. If you’re married, each of the two spouses needs to write out a separate will. However, you can mention assets that you jointly own.

When you’re writing your will, start with the assets that are easy to appraise, such as precious metals, heirlooms, jewelry, and cash savings. After this, move on to the larger assets such as your retirement funds, stock market investments, business interests, property, etc... You can also include any items with sentimental value and you want to leave them for specific people.

Seeking help from an estate planning attorney will help you write out a will properly. Get in touch with Mike Massey Law if you’re based in Austin, Houston, or San Antonio. In addition to helping our clients with their Last Will & Testaments, we also offer probate, personal injury, mediation, LLC formation, and real estate deed services.

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Mike Massey JD, MBA, MPA just might be the 195th most interesting person in Texas. He has 4 college degrees and he's working on a 5th:  BBS Accounting; MPA Master's in Professional Accounting; JD Law Degree; MBA Master's in Business Administration; BBS in Biblical Studies (in progress).

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© 2020 Mike Massey Law.  Managing Attorney Mike Massey, 8911 Capital of Texas Hwy, Ste 3210, Austin, TX, 78759.  Email: mike@MyTxWills.com.  Phone: 888-407-2407.  Mike Massey, Texas Bar # 24032584. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. Privacy Statement.  Prices can vary based on your unique situation and potential add-on services.  Prices for in-office (in person) meetings typically cost more than virtual meetings that are done over the phone instead of in person.  Prices for virtual estate planning do not include an execution ceremony or notary, as those services are not available with our discounted virtual estate planning packages. If your a personal injury case client on a contingency fee, then if we do not win, you will not be responsible for attorney's fees, court costs, or litigation expenses, but if we do win money for you via a settlement or court verdict, then attorney's fees, court costs, litigation expenses and unpaid medical bills will be taken from your share of the recovery. Mike Massey Law is not responsible for your unpaid medical bills.

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