The Real Value of Having a Will

Real Estate Podcast with Patrick Fitzgerald

If you don’t already have a will, it’s time to set one up. Even if you don’t think you need one right now, the truth is that unexpected tragedy can strike at any time. Take, for example, a past client of mine who recently reached out to inform me of her husband’s passing. When I asked if he had a will, she said no. The widow assumed that all of his assets would become hers automatically, but this isn’t so. Inheritance laws do vary from state to state, but here in Texas, half of a deceased spouse’s assets will be given to their widow, and the other half will be divided equally between their children. This isn’t an unusual arrangement for people with wills to choose, but the point is that not having a will eliminates any agency you would otherwise have over how (and to whom) your belongings are given. “The time it takes to set up a will is well worth it.” Assets distributed without a will are also subject to heavy legal fees, meaning that none of the decedent’s beneficiaries will receive the entirety of what was left behind. Worse still, your estate cannot be passed on without first going through probate court, which is a very lengthy and expensive process. All of this can be avoided by simply getting a will. You don’t even need to go to an attorney to create one. All you need is to buy and complete a will kit, and then get it notarized. Of course, going to an attorney is also a good option for those willing to take a few extra steps. Whatever route you choose, it’s all well worth it to protect your assets, your wishes, and your loved ones’ futures. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.