The Importance of Creating a Will: Everything You Need to Know

📜Everyone needs a will, regardless of the size of their estate, to ensure their assets are distributed according to their wishes.

💼Even if you don't own much property, a will allows you to specify who receives your sentimental belongings, such as heirlooms and family photos.

⚖️Without a will, the distribution of your assets, including family portraits and other shared items, could lead to family conflicts and legal disputes.

💡Creating a will is especially important for people with minor children, as it allows you to name a guardian and ensure their well-being.

📝It's essential to review your will annually to account for any changes in your circumstances, such as new assets, births, or marriages.

Can I create my own will without the help of an attorney?

—While it's possible to create a simple will on your own, consulting an attorney is recommended to ensure all legal requirements are met and to avoid potential issues.

What is probate?

—Probate refers to the legal process of administering an estate, including validating a will, inventorying assets, paying debts and taxes, and distributing property according to the deceased's wishes.

Is probate always a complicated and expensive process?

—The complexity and cost of probate vary by state. In some states, like Texas, the probate process is relatively straightforward, while in others, it can be time-consuming and expensive. Consulting an attorney can help you understand the specific requirements in your state.

How often should I review my will?

—It's recommended to review your will at least once a year to ensure it reflects your current wishes and accounts for any life changes, such as new assets, changes in relationships, or significant events in your family.

What happens if I die without a will?

—Dying without a will, called dying intestate, means the distribution of your assets will be determined according to state laws, which may not align with your preferences. It's best to create a will to ensure your assets are distributed as you wish.

00:00Creating a will is crucial, even if you don't have a large estate.

01:22A will allows you to specify who receives sentimental belongings like heirlooms and family photos.

02:53Distribution of assets without a will can lead to family conflicts and legal disputes.

02:42Creating a will is especially important for people with minor children.

14:00Regularly review your will to account for changes in circumstances.