Cedar Park Estate and Probate Lawyer

Virtually everyone has an estate. While it may sound like something only the wealthy aspire to, this is not the case. Your estate simply refers to everything of value that you own. This means bank accounts, financial tools, real estate, and valuable items such as jewelry and vehicles, but it doesn’t end there. 

Family heirlooms can also be a key component of your estate. These are the items that you know carry considerable sentimental value for your family members, and you can address these upfront in your will.

The Role Your Will Plays

Your will is your opportunity to say how you want your estate to be divided between your survivors at the time of your death. And you can be as specific as you would like. If you want certain items to go to certain people, this is your chance to make it clear. 

A will is a legal document that must meet certain requirements under Texas law to be legally binding and determine how an individual’s estate will be resolved upon their passing. The benefits of having a legally binding will in place include all the following:

• It allows you to name an executor who will manage the probate process.
• It can help streamline the probate process and save time and legal fees as a result. 
• It can help minimize conflict between your heirs, which is not at all uncommon in the emotional aftermath of a family member’s death.
• It ensures that your estate will be distributed according to your wishes rather than according to state laws that may not reflect your priorities.
• It can afford you considerable peace of mind in relation to what the future holds for your loved ones.

When it comes to estate planning, your will is a good place to start.

The Probate Process

The probate process refers to the steps required to wind up your estate. There are a wide range of legal intricacies involved. And the more effort you put into your will and estate plans, the more likely it is that your last will and testament will move smoothly forward toward finalization.

Your efforts toward this end can help lessen the burden of the emotionally charged probate process for your surviving family members. Choosing someone who is well prepared to take on the role of executor can also make a serious difference in how your will is probated. 

Your Executor’s Job

By naming an executor of your estate in your will, you help to ensure that the person you’ve chosen will be assigned the role. Their job involves applying for the role of executor as well as filing your will with the probate court. From here, the probate court will need to validate your will after posting a notice for anyone who may have an interest in contesting the legal document.

Getting Started

The person you’ve named to fill the role of your estate’s executor must first be deemed fit to serve by the court. They will then be required to confirm facts regarding your legal residence, the date of your death, and the validity of your last will and testament. Finally, the probate court will ask them to swear an oath that they will faithfully uphold the responsibilities required by the role. 

Letters Testamentary

At this point, the executor of your estate will receive what is called letters testamentary from the court. This document confirms that they have the authority granted by the probate court to take the actions necessary to wind up your estate. 

The tasks involved include all the following:

• Notifying beneficiaries regarding probate
• Posting a notice to creditors
• Discharging remaining debt
• Filing your final tax return
• Settling any disputes that may have arisen, including matters related to your will being contested