When it comes to estate planning, Texas residents likely have different goals they wish to accomplish. There are many different things you can accomplish in the estate planning process. Sometimes, it is possible to minimize family conflicts and confusion following a person's passing. This can be accomplished through trusts, financial and medical powers of attorney, designation of guardians, wills and other estate planning documents.
Of all the estate planning elements, a will is among the most important for many. A will can spell out in exact terms how a person's things are to be handled after their passing. It can protect a person's spouse, children and assets. Each situation is unique, but there are a few goals shared by many that can be accomplished with a will.
With a will, a person gets to decide how an estate will be distributed. This allows a person to determine who gets what and when. It can also help to minimize family conflicts and confusion following a person's passing. Plus, a will can help loved ones avoid a lengthy probate process. All estates must go through this process, but having a will can significantly shorten it.
Plus, a will allows parents to decide who will take care of any minor children in the event of their passing. Without a will, the courts will have to be the ones to determine who will be the child's guardian, sometimes a state-appointed guardian or family member. A will allows parents to appoint someone they trust.
With a will, not only is it possible to accomplish goals with what will happen following a person's passing, but it is also possible to avoid certain negative situations. Estate planning attorneys are available to meet with those interested.