If you have spent a lot of time amassing assets like real estate, money, personal property, or a business, you want to choose beloved family members and friends to inherit them. Their lives will be more comfortable because of you, which is your intention. You do not need to be a millionaire to make a will. And if you do not make one, assets can pass to unintended parties.
A will is an estate planning tool tailored to how you want your assets distributed. Having one ensures that the probate court follows your wishes. You do not need to leave drafting a will until old age; any time is the right time to execute one. It can be updated periodically as you acquire and dispose of assets. Whether your estate is massive or modest, our team of experienced estate planning attorneys at Begum Peláez-Prada PLLC is prepared to help. Our San Antonio wills lawyer could help you determine distribution according to your wishes, granting you peace of mind about the future.
You may be thinking about who should inherit the family heirlooms you have always treasured when you decide to make a will, but the document can be much more expansive than that. Wills are tailored to testators’ needs and often settle issues such as:
Testators can bequeath assets to unrelated friends or charities. They can also provide for beloved pets, although not directly. For more information about what you can include in your will or for help getting started, reach out to one of our knowledgeable San Antonio lawyers.
Some assets are not bequeathed because they are granted by other means. Testators can set up bank accounts to transfer funds to a named person, payable on death. Generally, family homes are held by spouses or other family members in joint tenancy and will automatically transfer to the surviving owners upon the death of a joint tenant. Tenants in common can bequeath their real estate ownership interest, so investors should consider how property is titled because tax ramifications can attach.
Testators do not own insurance payouts until they die, when the insurance company pays the proceeds to the beneficiary named on the policy. 401(k)s and other retirement plans are also granted separately from a will.
Our seasoned San Antonio wills attorneys at Begum Peláez-Prada PLLC will support your goals by drafting estate planning documents, including a will, and updating them as needed throughout your lifetime.
Modest estates may not convey millions of dollars, but they do convey personal treasures according to the testator’s wishes. By adopting a will, testators silence squabbling heirs because the probate court will honor those wishes and ignore what family members believe should be theirs.
Dying intestate, or without a will, not only pits family members against each other but may result in someone—like an estranged spouse—inheriting what you do not want them to get. Under Texas intestacy law, Estates Code § 201.001, the courts distribute assets according to a formula. When no will exists, an unqualified person could end up with a decedent’s business, or the judge could order it sold to pay off creditors. Sasha Begum and her team of legal professionals in San Antonio could make sure this does not happen to you.
No matter how much wealth you amass over time, a will allows you to pass it on after your death. Mementos comfort loved ones who remember you through them. Money gives the next generation a chance to start a business or buy a home.
Gather your legal documents and questions, then schedule a consultation with us. A San Antonio wills lawyer at Begum Peláez-Prada PLLC could inform you about what should be included in your will. We offer experienced and knowledgeable representation as well as peace of mind—knowing you are contributing to your beneficiaries’ futures. Call today to get started.
