You might not want to think about creating a will, but it is a crucial part of any estate plan – especially if you have children. When you create your will, it is your opportunity to divide your estate as you see fit, and you can be as specific as you want. By creating your will now, you can ensure that your instructions are followed in the future.
In the state of Texas, there are two main types of wills. A holographic will is one that is written and signed in your own handwriting. There’s no requirement for this type of will to be witnessed or notarized.
The second type of will is a formal will. This is a typed will that you must sign in front of two witnesses who are over the age of 14.
What to include in your will
Whether it is holographic or formal, your will should address the following:
- Division of property
- Name beneficiaries
- Choose an executor
- Choose a guardian for your underage children
- Attach a “goodbye” letter to your will if you wish
Once you have made your will, find a safe place to keep it, such as a safety deposit box at the bank. You must then review it from time to time. As you accumulate assets or changes in your family occur, you may wish to update your will to reflect these changes.
While it is possible to write your will on your own, it makes sense to seek assistance. An experienced legal guide can help you navigate through certain difficult decisions and issues in your family.