Wills Attorney in Colleyville, Texas

As experienced estate planning attorneys in Colleyville, Texas, The Tefera Law Firm, PLLC knows how important it is for individuals and families to understand the legal process and implications of creating a will. 

We also understand the importance of carefully planning for the future and making sure that your wishes are protected through a properly executed will and estate plan. 

We proudly serve clients throughout Tarrant County, Texas, including Colleyville, Keller, Grapevine, Southlake, Watauga, Hurst, Euless, Bedford, North Richland Hills, Fort Worth, Arlington, and neighboring areas.

Our firm takes pride in guiding clients through every step of the estate planning process, providing clarity on legal options and implications to give you peace of mind. We’re committed to helping you secure a lasting legacy for your loved ones. Keep reading to learn more about wills and legal assistance with them.

The Importance of Having a Will

A will is a legal document that specifies how your assets will be distributed after your passing. Many people think of a will as something only the wealthy need, but the truth is that a will benefits anyone with assets, dependents, or specific wishes for their estate. Here are some of the key reasons why having a will is essential:

• Control over asset distribution: Without a will, Texas’s intestacy laws will determine how your assets are distributed, which may not align with your wishes. A will allows you to designate beneficiaries and specify the distribution of each asset.

• Guardian designation for minor children: A will allows you to designate a guardian for your minor children, making sure that they’re cared for by someone you trust.

• Minimize family disputes: A clear, legally sound will reduces the likelihood of disputes between family members and provides clear instructions, which can ease the process for everyone involved.

• Simplify probate: While probate (the legal process of distributing assets after death) is often required whether or not you have a will, a properly drafted will can streamline the probate process, saving time and money for your loved ones.

For families in Colleyville and across Texas, a will provides critical legal guidance that gives you control over your estate, protects your loved ones, and prevents potential legal complications.

Steps in Creating a Legally Sound Will

The process of creating a will in Texas involves several key steps. While the exact approach may vary based on individual circumstances, here’s a general overview of what to expect:

1. Consult with an estate planning attorney: The first step is to meet with an estate planning attorney who can assess your needs, answer your questions, and provide guidance on creating a will that complies with Texas law.

2. Inventory your assets: Together, we’ll go over your assets, including real estate, bank accounts, investments, personal property, and retirement accounts. This helps us create a comprehensive plan for asset distribution.

3. Identify beneficiaries: You’ll designate beneficiaries for each of your assets, specifying who will inherit specific items, amounts, or accounts.

4. Appoint an executor: The executor is the person responsible for administering your estate after your passing. This person should be someone you trust to carry out your wishes and handle the probate process responsibly.

5. Draft the will: Based on your input, we’ll draft the will to meet your needs and confirm that it complies with Texas legal requirements.

6. Sign and witness the will: In Texas, wills must be signed by the testator (the person making the will) and witnessed by at least two individuals who are not beneficiaries. This step is crucial for establishing the will’s validity.

7. Store your will safely: Finally, we’ll provide guidance on storing your will in a secure location, such as a safe deposit box or with your attorney, and advise you to inform your executor of its location.

Legal Requirements for a Valid Will in Texas

Texas has specific legal requirements that must be met for a will to be valid. A will that doesn’t meet these requirements may be contested in court, leading to complications and potentially altering the distribution of your assets. Here are the primary requirements for a valid will in Texas:

• Legal age and sound mind: You must be at least 18 years old and of sound mind when creating the will. This means you must understand the nature of the document and the extent of your assets.

• Written document: Texas requires that wills be in writing. While handwritten (holographic) wills are legal, they must meet specific requirements and are generally more susceptible to challenges.

• Signature and witnesses: The will must be signed by the testator in the presence of at least two witnesses. These witnesses must also sign the will, and they should be disinterested parties (not beneficiaries) to avoid conflicts of interest.

• Self-proving affidavit: Including a self-proving affidavit can make probate smoother. This affidavit is a sworn statement signed by the witnesses in front of a notary, which can help the court validate the will without requiring the witnesses to testify.

Common Mistakes to Avoid When Creating a Will

Creating a will is a vital part of estate planning, but it’s easy to make mistakes that could complicate matters for your loved ones. Here are some common pitfalls to avoid:

• Not updating the will: Life changes, and so should your will. If you experience a major life event, such as marriage, divorce, the birth of a child, or significant financial changes, it’s essential to update your will to reflect your current wishes.

• Not including a residual clause: A residual clause directs how any remaining assets should be distributed after specific bequests are made. Without one, leftover assets may be subject to intestacy laws, which could mean they go to unintended beneficiaries.

• Ignoring estate tax considerations: While Texas doesn’t have an estate tax, federal estate taxes could apply if your estate is large. Consulting with an attorney helps you structure your will in a tax-efficient manner.

• Not appointing an alternate executor: If your primary executor is unable or unwilling to serve, having an alternate assures you that your will can still be executed according to your wishes.

How Wills Interact With Other Estate Planning Tools

A will is an essential part of an estate plan, but it’s often one component of a larger strategy. In addition to a will, there are other tools available to manage your assets and make your wishes known. Here are a few complementary tools commonly used in estate planning:

• Living trust: A living trust can help you avoid probate and provide privacy for your estate. Assets placed in a trust can be distributed according to your wishes without court involvement.

• Power of attorney: A power of attorney allows you to designate someone to manage your financial and legal matters if you become incapacitated.

• Advance health care directive: Also known as a living will, this document specifies your medical wishes in case you can’t communicate them yourself.

• Beneficiary designations: Assets like life insurance policies and retirement accounts can be transferred directly to designated beneficiaries, bypassing probate.

Having a comprehensive estate plan that includes a will and other documents verifies that your wishes are respected, provides clear instructions for your loved ones, and minimizes potential legal hurdles.

Potential Challenges to a Will

In Texas, a will can be contested if there are concerns about its validity or the circumstances surrounding its creation. There are key common grounds for contesting a will to be familiar with. This includes the lack of capacity, which is when there’s evidence that the testator was not of sound mind when creating the will, it may be contested on the grounds of incapacity.

A will may also be contested if it’s believed that someone exerted undue influence on the testator, pressuring them to make decisions they wouldn’t otherwise have made. Additionally, if a will is created under fraudulent circumstances, such as a forged signature or misrepresentation, it may be invalidated.

Improper execution is also a concern, meaning wills must meet specific legal requirements to be valid. If these requirements weren’t followed, the will could be contested in court.