You will likely develop a last will and testament when creating an estate plan. However, individuals may make mistakes that could jeopardize the validity and effectiveness of their will. Working with an experienced estate planning attorney in Texas can help you avoid many common errors that others make when drafting wills.
Failing to Meet Legal Requirements
Texas law imposes several requirements for an enforceable will. A person who makes a will must be 18 or older, married or divorced, or a member of the U.S. Armed Forces, auxiliary of the armed forces, or U.S. Maritime Service. Furthermore, a person must be of sound mind, possessing testamentary capacity and not suffering under coercion, duress, or undue influence. Testamentary capacity means a person understands the nature and extent of their property and the consequences of distributing it through a will.
State law also requires wills to be in writing, signed by the testator in person or by another person in the testator’s presence and at their direction, and attested to by two or more witnesses who are 14 or older. However, a will written entirely in the testator’s handwriting (a “holographic will”) does not require witnesses.
Using Generic Templates without Legal Guidance
Many people rely on generic templates for wills available online or through do-it-yourself online estate planning services. However, using these generic templates may risk creating an unenforceable will, as online platforms may not offer templates specifically designed to comply with Texas law. Furthermore, a generic template may not address your specific circumstances or needs, leading to your will not fully addressing your estate.
Forgetting to Review and Revise Your Will
Life changes, such as marriage, divorce, the birth of children, and substantial changes in your assets or income, may result in your will becoming outdated. Your will may cease to reflect your current wishes or may not address assets you’ve acquired since you created your will. As a result, individuals should review their wills every few years or after significant life changes and revise their wills as necessary to ensure they reflect their current circumstances and testamentary intent.
Inadequately Describing or Omitting Assets
Legal disputes may arise during the probate of your will if the document does not clearly describe which assets you intend to devise to specific beneficiaries. Furthermore, not including all assets in your will could result in those assets passing via Texas intestate succession laws rather than via your will. Individuals may avoid leaving assets out of their will by incorporating residuary clauses, which bequeath any assets not devised explicitly under the will to designated beneficiaries.
Ignoring Community Property Rules
Finally, Texas residents who draft wills may make a critical error by forgetting that Texas follows community property rules. Under the community property system, property acquired during marriage becomes equally owned by both spouses. Upon the death of one spouse, community property passes according to state intestacy law unless the deceased spouse creates a will that provides otherwise. Thus, community property rules can affect the distribution of property that a decedent acquired during their marriage. Married individuals can avoid unintended consequences from the community property system by working with an experienced Texas estate planning attorney.
Contact an Estate Planning Lawyer Today
Before you draft and sign a will, talk to an experienced estate planning attorney to ensure that your will can implement your wishes and objectives for your estate. Contact Carroll Law Group, PLLC, today for an initial consultation to discuss how we can help you create a tailored estate plan to achieve your goals for distributing your property and wealth to your loved ones after death.