Frequently Asked Questions About Texas Wills and Estate Planning
- Q: How should Wills, Living Wills, and Powers of Attorney be updated?
- A: You should create new after any life changing event including (but not limited to) births, deaths, marriages, or divorces. You should also create new Powers of Attorney after any marriage or divorce. You should also create a new Wills, Powers of Attorney, or Living Wills at any time if what is in the document no longer reflects your wishes. You should review your Wills and Powerws of Attorney every year to ensure they continue to meet your needs.
- Q: Are my documents binding as soon as I receive them?
- A: No. We will provide a set of instructions you will need to follow in order to legally execute the documents. In general, you will require 2 witnesses and a notary (none of whom can be interested parties to the document they are signing). Your witnesses must be 18 years old or older.
- Q: Are Wills necessary for single people with no kids?
- A: Yes. Even if your desires exactly match the way the law will distribute your property, probating estates with Wills are far easier and less expensive than probating estates without Wills (intestate).
- Q: I am married. Do we each need our own Wills?
- A: Yes. Wills are written for individuals. If you are maried, your Wills can look identical, but each spouse needs their own Will.
- Q: Are Oral Wills valid in Texas?
- A: No. The State of Texas no longer recognizes Oral Wills.
- Q: Can I write my own Will?
- A: While Holographic Wills are valid in Texas, it is not recommended. The law has numerous requirements for legally executing Wills and what makes Wills valid or invalid. Unless you understand the laws, it is best to ensure your Wills are professionally written to ensure they conform to current laws.
- Q: Are there any restrictions on creating Wills?
- A: Yes, you must be either 18 years old (or older), married, or presently serving in the military.
- You must also meet the following requirements to determine legal competency to legally execute a Will. You must:
- Know and recognize your relatives
- Comprehend approximately your net worth and what types of assets you own
- Understands that you are signing a Will and what a Will does
- Are able to form a plan in your mind and dispose of your property accordingly.