Many Texas residents know that having a plan for potential situations can help address those events more easily. When it comes to end-of-life wishes, early estate planning could better ensure that surviving family are not left floundering when it comes to taking care of various estate-related proceedings. Creating a will can often provide useful information that allows the process of closing the estate to go more smoothly.
When considering what to include in a will, one of the key details is who should act as executor. The executor of the estate has many responsibilities when it comes to ensuring that the probate process is completed and that a person’s wishes are followed. Therefore, if individuals want to have a specific person take on these responsibilities, they may wish to name their executors in their wills.
Additionally, parties can use their wills to create specific bequests. This actions means that individuals can name certain individuals to receive particular assets or amounts of money. However, after these specific bequests have been carried out, it is also important to have a residuary clause that indicates to whom the remainder of the assets should go.
Though most people can see the benefits of estate planning and creating wills, they may feel that they have plenty of time to carry out such actions. However, having such a plan in place sooner rather than later may prove more useful as unexpected deaths could occur at any time. Texas residents who would like to get started on their estate plans may wish to consult with experienced attorneys.
Source: poughkeepsiejournal.com, “Drafting a last will and testament takes planning, expertise“, Bernard A. Krooks, Oct. 17, 2017