Bryan-College Station Estate Planning Attorney Gives a General Overview of Wills
One of the major questions that will arise when you begin planning for the distribution of your assets upon your death is which type of estate planning tool you want to use. Two types of important tools that are available are wills and trusts. While the intricacies can be best explained by a Bryan-College Station estate planning lawyer, this article provides a basic discussion one of these tools, which is the will.
A will is a document that allows you to set forth your wishes regarding the distribution of your property and assets upon your death. Any person who is of sound mind and has attained the legal age of majority can draft his own will without the assistance of a lawyer. However, an attorney can help you avoid certain mistakes and pitfalls that can invalidate a will.
The person who drafts the will is referred to as the “testator.” The testator can appoint a personal representative who will be responsible for probating the will upon the testator's death. If no representative is designated within the will, the court can appoint a representative. No matter what, the will must go through the time-consuming probate process, where the court verifies that the will is authentic and then oversees the personal representative. The representative takes inventory of the estate, pays all debts and taxes owed by the estate, and then distributes the remaining assets according to the will's directions.
Call Today to Consult with an Experienced Bryan-College Station estate planning attorney
Preparing a will is not an easy task. For a consultation with an experienced and dedicated Bryan-College Station estate planning lawyer, do not hesitate to contact the Peterson Law Group at (979) 703-7014 or through our online contact form.
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