When you create a will, you are taking a crucial step in securing your legacy and ensuring your family remains provided even when you are no longer around. It is a powerful tool that can bring peace of mind and prevent family disputes.
However, creating a will is just the first step. Even with the best intentions, wills can sometimes face issues that undermine this crucial document’s very purpose. By recognizing these potential pitfalls, you can create a more robust and legally sound will.
Improper execution
In Texas, as in other U.S. states, your will’s validity relies heavily on its proper execution. Your will must be in writing and signed by you or by someone else at your direction and in your presence. Two credible witnesses must also sign the will while you watch.
Without meeting these requirements, your will’s validity could come under scrutiny. This could lead to Texas intestacy laws taking over, distributing your assets according to state law instead of your wishes.
Unclear language
Ambiguous or confusing language can lead to misinterpretation and disputes among your beneficiaries. For instance, if you leave your “share of the family business” to your son, but you own multiple businesses or have varying levels of ownership in each, which business does he inherit? If you are not specific in your will, the courts may have to intervene, causing delays and adding to the emotional toll on your loved ones.
Disputes among beneficiaries
Even with a well-drafted will, conflicts can arise among your heirs. These disputes often stem from feelings of unfairness or suspicion about undue influence. If you leave a majority of your shares in the family business to one child, but another child has been instrumental in its operation, it could lead to conflict and lengthy legal challenges.
While you have the right to distribute your assets as you see fit, consider discussing your decisions with your family if possible.
The key to a peaceful inheritance
Creating a clear, legally sound will is one of the most thoughtful gifts you can leave your loved ones when the time comes. When you take the time to consider all potential pitfalls, you can prevent disputes that might otherwise threaten your family’s peace during an already difficult time.