A last will and testament is a legal document that expresses how you want your property and assets distributed after your death. By spelling out exactly how you would like your estate handled when you die, you can avoid family strife and have peace of mind that they will honor your wishes. Here are the top reasons why you need to make a will.
This 5 part series will provide an overview of the top reasons why you need to make a will which include:
Part 1 addressed Decide Who Gets Your Estate and Decide Who Will Take Care of Your Minor Children & Pet . Part 2 addressed Facilitate the Probate Process and Minimize Estate Taxes. Part 3 addressed Decide Who Will Administer Your Estate and Disinherit Individuals You Do Not Want To Receive Your Property. Part 4 addresses Make Gifts and Donations and You Can Always Update Your Will. Part 5 will address Avoid Legal Challenges and Tomorrow Is Not Promised.
In addition to distributing your estate to your family, a will also allows you to make donations to your favorite charitable causes. This is especially beneficial because gifts up to certain amounts may also reduce your tax liability. When drafting your will, check for the most up-to-date gift tax exclusions. If you do not have a will, intestacy laws do not provide for charitable donations.
Your will can (and should) be updated as your life circumstances change. Your most recent valid will is typically the most authoritative. There are many reasons you need to update your will. For example, life changes such as the birth of a new child, the death of a relative, and divorce can all create legal issues down the road if you don’t revise your will accordingly.
If you are planning your estate, making a will or updating your will, the best thing to do is consult with a local Amarillo Texas estate planning attorney to make sure you are following the laws and regulations of your respective state. Many people have similar questions and go through the same line of questioning when deciding how to make or update their estate plan. It can be and often is critical that you get legal help understanding the basics of this process. The best way to get this understanding is to contact an experienced Amarillo Estate Planning attorney near you. Stop and take a breath and call an Amarillo Estate Planning Attorney who has had decades of experience. Pick up the phone and call Amarillo Estate Planning Attorney Bill Cornett. Bill is your choice as an experienced estate attorney in Amarillo and the Texas Panhandle. Don’t waste another minute. Call him today.
Your most important action may end up being the phone call that you make to your Amarillo estate planning attorney lawyer. In the Texas Panhandle that call should be to Amarillo attorney Bill Cornett. Whether you need assistance with a will, administration of an estate or a contested probate, contact the Law Office of Bill Cornett. Be smart…remember these phone numbers (806) 374-9498 or (800) 658-6618.
Bill Cornett, Amarillo Attorney, with Cornett Law Firm, offers affordable, qualified services as an experienced personal injury lawyer and probate attorney. Bill also has experience in estate planning and agriculture law. Sit down with Bill at his office located at 612 S. Van Buren St. in Amarillo TX by calling (806) 374-9498 or (800) 658-6618 TODAY to schedule a free consultation.
GET A FREE LEGAL CONSULTATION
Bill Cornett grew up on a farm in Knox City, Texas. He received his Bachelor of Science in Agricultural Economics from Texas Tech University and his Doctor of Jurisprudence from the University of Houston Law School. Bill was licensed to practice law in the State of Texas in 1973.