McCulloch & Associates

Attorneys at Law

Thomas W. McCulloch, CPA
TELEPHONE (713) 961-1099

Frequently Asked Questions about Wills

Q: Can I complete a Will over the Internet, or do I need to get an attorney?

A: Yes, but it is always advisable to consult with an attorney who is properly trained to execute all important documents to ensure that they are comprehensive, professional and legal.

Q: Will all of my assets be distributed through my Will?

A: No, certain assets do not pass under your Will. For instance, any property or item held jointly with right of survivorship (such as a spouse) will pass to the joint holder. Insurance policies, pensions, retirement or other employee benefits pass to the designated beneficiary.

Q: Do I have to be specific about the property to be distributed?

A: No, it is not necessary that you name or describe each item separately. You can describe the assets by groups or categories or any other manner that accurately describes the asset. However, if you do want a particular person to receive a particular item, such as your engagement ring or class ring, then you do need to specify. An attorney will advise you as to the proper way to dispose of these individual assets.

Q: How often should I review my Will?

A: Every two to three years your Will should be reviewed. In addition, the Will should always be updated when there is a life change such as when you move to another state, add a dependent, your financial situation changes or the tax laws change.

Q: How do I make changes to my Will?

A: To make sure you do not void the existing Will, it is best to consult an attorney. An attorney can execute a new Will or properly draft a codicil amending the existing Will.

Q: Is a Will the only thing I need to implement to protect my family and ensure they acquire my belongings?

A: No. It is also advisable to have Powers of Attorneys (Medical and Financial) in case the need to protect your property arises before your death.

Q: What happens if I die without executing a Will?

A: Your property will pass intestate (dying without a Will.) The Texas Probate Code sets out a distribution plan that allows your property to pass to your heirs even without a Will. But without a Will, the distribution is made according to the Probate Code and not necessarily according to your wishes. In other words, the State provides your Will.

Q: May I create a Trust instead of a Will, or in conjunction with a Will?

A: Yes, there are many Trust options that may be considered as an alternative method of directing inheritance. A lawyer experienced in Estate Planning can discuss options, benefits and costs.