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A will is a vital part of estate planning

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A will is a vital part of estate planning

| Oct 9, 2019 | estate planning |

Many people think that a will is only for someone with a great deal of assets. The truth is that making a thorough estate plan that includes a will is a good idea for anyone and everyone. Even for those who recognize how important a will can be, they may procrastinate or avoid creating one. Experts caution against this practice and stress that proper estate planning is necessary to ensure that a person’s estate is handled in the manner that he or she wishes. Fortunately, experts also have guidance for those here in Texas and elsewhere who may be struggling with the process.

One expert recommends that people think about who their will might positively affect. If people have children or other loved ones they want to be sure are cared for in the event of their deaths, a will is a way to reduce costs and detail precisely what care needs to be provided. Thinking about a will in a positive light may also be more inspirational for a person who feels guilty for not completing one.

On the other side of the spectrum, some people may want to consider potential negative consequences of not having a will. Without a will, child care and asset division may be left to other parties that don’t personally know the one who died. This may be especially important for those who are reluctant to share their assets with certain people who may have a claim to them.

The final bits of advice are to make the whole process as simple as possible and determine a specific timeline for enlisting professional help. An attorney with estate planning experience here in Texas may be the best person to turn to for advice in this scenario. He or she will know what areas of an estate plan need to be determined and what possibilities are important to cover.