The Law Office of Landon w. Ramsay
Why should I get a will?
If you don't currently have a will, your loved ones may not receive the assets you wish to leave them in the event of your death. If you're unsure of where to start, read on for the basic information you need to know when you're considering making a will.
What Is a Will?
A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children. Wills come in several varieties, including the following:
A self-proving will, also know as testamentary will, is the traditional type of will with which most people are familiar. It is a formally prepared document that is signed in the presence of witnesses.
Holographic wills are written without the presence of witnesses. They rarely hold up in court.
Oral wills are spoken testaments given before witnesses. They are not widely recognized from a legal perspective.
A living will has nothing to do with the distribution of assets, but rather sets forth your wishes for medical care in terms of life support should you be incapacitated.
To maximize the likelihood that your wishes are carried out, you want a will that is set forth in writing, and signed by you and your witnesses. If your will does not meet these standards, your instructions may not be carried out.
The means by which you pass on your financial assets to your descendents is one of the most important legal decisions any Texan can make. People, these days, often get too busy to think about these matters. But, if done correctly, either via a simple will or living trust, it can ease the transition at a difficult time for your family.