It is often difficult and overwhelming to think about what will happen after you’re gone. We know that this is a tough conversation to have, but it’s necessary to protect yourself and your family. The more prepared you are now, the easier it will be for your family to be taken care of and for your wishes to be fulfilled. With a written will, your family will have the space they need to grieve rather than be overwhelmed with a never-ending stream of questions.
Yes, a written will directs where your assets will go, but there is more to it than that. You may not have fully considered all of the specifics that your loved ones will need to handle on your behalf after you’re gone. A written will can address not only your real estate and other personal assets, but wide range of other matters such as:
You can make these decisions now to try to limit any unnecessary problems for your family in the future.
Have you ever considered who will take care of your children after you’re gone? Many parents have designated Godparents for their children, but may be surprised to know that Godparents have no legal rights in Texas. In order to ensure your children are properly taken care of, you need to designate legal guardians in the event that you pass while they’re minors. Additionally, do you want their portion to go to a trust or be released all at once? Do you have requirements that you would like fulfilled before your children - or anyone for that matter - can access the money? For example, some choose to release funds upon high school or college graduation or after a certain age to minimize the risk of frivolous spending.
What about issues that may come up before death? What are your wishes if you incapacitated? Do you want to be on life support? These are questions that only you can answer. Yes, your spouse or next of kin can answer these questions for you if you’re incapaticated, but they will always wonder in the back of their mind if they did right by you. Don’t let them carry that burden, make it as clear as possible now so there are no questions later.
McKinney Vos will help you prepare for the future by going through the difficult questions now. We know this is not an easy conversation to have, but our compassionate team is here to answer all of your questions and help create a plan that fits your life exactly.
Call us today to set up a no-pressure consultation!