10 Reasons to Make a Will Before It’s Too Late

So, you’ve worked hard your entire life, building a legacy for your family.

But have you taken the time to ensure that someone will carry out your wishes after you’re gone?

That’s where a will comes in.

Testamentary documents tell who takes assets from your estate and assigns a trusted person to take care of your minor children after you pass away.

Read on to discover 10 reasons why drafting a Texas will is smart for protecting your family and gaining peace of mind.

Reason #1: You Decide Where Your Assets Go

When creating a Texas will, you can call the shots on dividing your property among your beneficiaries.

This perk means you can:

• Specify who gets your house, car, jewelry, and other valuable possessions.
• Allocate specific percentages of your estate to different family members or friends.
• Leave money or property to charities that are close to your heart.

Without a will, Texas’s intestate succession laws determine who gets what.

If this happens, the courts may not distribute your assets according to your wishes, and people you don’t want to inherit could receive a portion of your estate.

Reason #2: Protect Your Family’s Financial Future

Testamentary documents take care of your family members after you’re gone.

This is especially important if you have:

• A spouse who relies on your income.
• Children who need financial support for their education or day-to-day needs.
• Aging parents who may require assistance with medical expenses or living arrangements.

The asset distribution that your will provides supports you for your loved ones’ needs and goals, minimizing burdens during an already difficult time.

Reason #3: You Can Appoint Guardians for Your Minor Children

If you have children under the age of 18, your will can appoint guardians to take care of them when both parents pass away.

By naming guardians in your will, you:

• Ensure a caregiver you trust raises your children.
• Provide for your kid’s emotional and financial well-being.
• Avoid potential family conflicts over who should assume custody.

Without a valid will, the court will decide who raises your children, which may not be the person you would have chosen.

Reason #4: Minimize Family Conflicts and Legal Disputes

A well-drafted document prevents misunderstandings and disputes among your family members after you’re gone.

By clearly communicating your final wishes in a written document, you:

• Reduce the likelihood of costly and emotionally draining legal battles.
• Ensure someone distributes your assets according to your intent and not the wishes of others.
• Provide a roadmap for your executor to follow, making the process smoother for everyone involved.

Reason #5: You Expedite the Probate Process and Reduce Expenses

The probate process (legal proceedings for distributing assets after death) is streamlined after someone presents your will to probate.

This happens because your will provides clear instructions on dividing your assets, reducing the need for court involvement and associated costs.

Your testamentary documents essentially:

• Ensure your beneficiaries receive their inheritances more quickly.
• Minimize legal fees and court costs.
• Reduce stress and burden on your loved ones during a challenging time.

Reason #6: Take Advantage of Potential Tax Benefits

Qualified Texas estate planning attorneys draft legal documents with strategies that reduce tax liabilities and maximize the assets passed on to your beneficiaries.

Some potential tax benefits may include:

• Reducing estate taxes by setting up trusts or making charitable donations.
• Minimizing capital gains taxes for your beneficiaries by strategically allocating assets.
• Utilizing estate tax exemptions and deductions.

Reason #7: You Can Support Charitable Causes and Leave a Lasting Legacy

If there are charitable organizations or causes that you’re passionate about, your will can allocate a portion of your assets to support them.

By including charitable giving in your estate planning, you:

• Make a meaningful impact on the causes you care about.
• Inspire others to follow in your footsteps and make a difference.
• Potentially receive tax benefits for your estate.

Reason #8: Appoint a Trusted Executor to Manage Your Estate

A will allows you to choose a personal representative or executor – responsible for carrying out your wishes and managing your estate after you pass away.

Your trusted appointee can:

• Handle your estate efficiently and responsibly in probate.
• Minimize potential conflicts among family members.
• Hire legal counsel to represent your heirs in probate proceedings and during estate dispute litigation.

Reason #9: You Can Address Unique Family Situations and Protect Vulnerable Loved Ones

Every family is different, and your will allows you to tailor your wishes around your specific circumstances.

This benefit is especially important if you have:

• Blended families with children from previous relationships.
• Loved ones with special needs who may require long-term care or financial support.
• Aging parents who you want to provide for in their later years.

By addressing these unique situations in your estate planning documents, you protect your loved ones and provide for them as you wish.

Reason #10: You Gain Peace of Mind Knowing Your Affairs are in Order

Perhaps the most important reason to draft and execute a Texas will is the peace of mind it provides.

When you have a comprehensive estate plan in place, you can rest assured that:

• You’ve preserved your legacy, and someone will honor your final wishes.
• Your loved ones are taken care of according to your desires.
• You’ve done everything possible to make the process easier for your family during a difficult time.

Protect Your Legacy and Your Family with a Texas Will

Schedule a consultation with The Cleverly Law Firm, PLLC in Texas to discuss your estate planning options and learn more about how a will protects your assets and loved ones.

Our experienced attorneys will explain the Texas probate process and help you draft and execute personalized testamentary documents that meet your unique needs and goals.