You have worked hard over the course of your life so far and will continue to do so. In the process, you have amassed an estate, which refers to everything of value that you own. By putting estate plans into effect, you set the stage for dividing and distributing your assets according to your preferences when the time comes. An experienced Fort Hood estate and probate attorney at The Law Office of Brett H. Pritchard can help you translate your wishes into actionable plans that afford you the confidence you are looking for. 

Terms that Can Help

The rules of inheritance in Texas are complex, and the terms used can be confusing. By getting a handle on these terms, you will be better prepared to master your estate planning needs.

Last Will and Testament

A last will and testament is generally simply called a will. It is a legal document that allows you to accomplish all the following:

• Determining how your estate will be distributed upon your passing
• Addressing the matter of handing down items with sentimental value to your family
• Naming an executor of your estate, who may also be called a personal representative
• Addressing the matter of guardianship of your minor children

For your will to be legally binding, it must be in writing, which can mean being handwritten by you or being printed or typed. The document must also be signed by you. Further, you must have been at least 18 years old when you created your will, and you must have been of sound mind. 

Finally, if your will is either printed or typed, you’ll need to have two witnesses sign off on it. 

While it is not necessary to have your will notarized, doing so can make it self-proving, and this can eliminate a step in the probate process.

Being of Sound Mind

Being of sound mind  at the time that you created your will is also called having testamentary capacity. It means that you had the capacity to appreciate the significance of the task and that you had a clear understanding of what you were doing at the time. This requirement is designed to help ensure that your will is an accurate reflection of your wishes.

The Laws of Intestacy in Texas

The laws of intestacy in Texas is another name for inheritance laws in the state. If you die without a valid will in place, these laws come into effect. This means that, instead of your wishes being upheld, the state’s laws will determine who will inherit your assets. 

The State of Texas prioritizes the decedent’s spouse, surviving children, parents, and siblings – in that order. This may or may not align with your preferences, and it makes no allowances for nuance in the division of assets. 

While you may want to make it very clear that a specific person receives a specific asset or heirloom, for example, you should know that the State of Texas does not share your concern.  

The Executor of Your Estate 

You can name an executor of your estate in your will, and you are advised to do so. This is someone whom you believe can handle the emotional and legal challenges of guiding your estate through the probate process. The court will need to find your candidate fit to serve, but once they do, you can expect the person you have named to be assigned the role. 

Fit to serve in this capacity involves being of sound mind and not having a criminal record with a felony on it. Additionally, the person you choose must have a Texas residence. Your executor will also serve in a fiduciary role, which means that their sole responsibility is to the best interests of your estate and your heirs.

The Probate Process 

Probate refers to the court-led process of winding up your estate. To begin, an executor will be named, and they will guide all the following key elements of probate in conjunction with the probate court:

• Giving notice to creditors and authorizing payments to them
• Inventorying assets
• Distributing assets, which must be directed by the probate court and includes transferring titles appropriately 
• Resolving any disputes that may arise

Discuss Your Estate Planning Needs with a Fort Hood Estate and Probate Lawyer Today

Brett Pritchard at The Law Office of Brett H. Pritchard is a savvy Fort Hood estate and probate attorney who dedicates his impressive practice to helping clients effect well-considered estate plans that afford them peace of mind in relation to the future. The effort you put into your estate plans now can make a serious difference in terms of your legacy. Learn more about what we can do to help by contacting or calling us at 254-781-4222 today.