When drafting a will, especially for the first time, the process may seem overwhelming. With so many things to consider, finding someone who can help you navigate the process is your best bet.
Once you draft your will, is it a good idea to give a copy to your family? If you do not, who executes the estate upon your passing?
Share and share alike
After drafting your legally binding Texas will, it is a good idea to have several copies made. Your executor, or the person tasked with making sure your affairs are settled, should have a copy. You may also wish to provide copies to any named persons in the will, just so they know upon your passing that they should receive notice.
Original will safekeeping
Your original executed estate plan should remain in the hands of the legal professional who helped prepare it. This third-party person is responsible for filing the will upon your death. If your attorney is also your executor, she or he will start the process of settling your final wishes once the death certificate gets finalized and filed.
If there is a change
Typically, people go through changes as they age, and a will requires revisions several times along the way. Certain life events warrant an update of your estate plan, such as:
- Marriage or divorce
- The birth or death of a child
- The death of a spouse
- Re-marriage
- Increased number of assets and net worth
The most significant life change that may warrant an update of your estate plan is the birth of a child. You want to ensure your son or daughter is taken care of after your passing. Therefore, revising a will to include guardianship, trusts, and division of property and assets is essential.
Giving copies of your final wishes to those you care about is not something you should avoid. Letting others in on your plans may help ensure they are followed according to your intentions.
