What a will actually does
A will is a document that controls the passage of your property upon your death. Most of us are concerned — at least to some degree — about what happens to our property and into whose hands it ultimately falls. That concern alone makes a will a good idea for nearly everyone with the capacity to make one.
Two basic types of wills in Texas
- The attested (formal) will — in writing and witnessed by two or more witnesses aged fourteen or older.
- The holographic will — wholly in the testator's handwriting and signed by the testator.
Generally, the most effective wills are attested, formal wills.
Can I just write my wishes down and sign it?
Maybe. A will written wholly in your own handwriting and signed by you can be valid and admitted to probate in Texas. But many problems arise with this type of will:
- It may not be recognized as valid by the court.
- It may fail to dispose of all of your property.
- It may fail to take advantage of efficient, cost-saving procedures available when a proper formal will is used.
- It will usually cost more to probate than a proper formal will.
For those reasons, holographic wills are not recommended.
"I don't have many assets, so I don't need a will." Right?
Not necessarily. You do not know what your financial condition will be at your death or what property you will own then. Your family situation may also make having a will crucial to your loved ones — particularly where minor children, blended families, or a business are involved.