Archive for August, 2012

What Happens To Your Belongings When You Decease Without A Will?

Thursday, August 16th, 2012

In life we never truly expect what is going to happen next. While yes, we do have a good indication of the possible outcome for many of our actions other times we are just left in the dark about what is to come. However, in our lives we can expect a few things such as our birth, aging over time, and eventually our death. When it comes down to the matter of death we can sometimes expect when it is going to happen, or given a clear window of its potential. Yet, most of the time death comes when we least expect.

Understanding The Matter At Hand: Death

Since death comes when it is unexpected most of the time we need to prepare for it accordingly, which we can do so with a will.  A will helps you distribute and give your belongs to your friends, or your family members whether it is your home, your pet, financial assets, or even trademarks that are associated with either your name, or business. However, when individuals do not invest their time, and effort into drafting, reviewing, and finalizing their wills accordingly they set them, and their beneficiaries up for failure.

How Not Having A Will Can Complicate Things

When an individual does not have a will and they decease what actually happens to their belongings? Currently, the state of Texas is considered a community property state, which means that just because you do not have a will all of your assets, and property will go to your surviving spouse.  Section 43 of the Texas Probate Code helps identify how community property is actually evaluated, and distributed when an individual becomes deceased. When a surviving spouse remains the property shall be split in half amongst the spouse, and any inherits that may exist. When no descendents exist then all of the property is awarded to the surviving spouse.

Overall, before it is too late you should truly consider seeking out an experienced, and an ultimately dedicated probate attorney today in order to have a last will and testament. No one really wants to think about death, especially with so much life around us, but if not handled accordingly not only your estate, but also all of your beneficiaries could suffer in the blink of an eye.

In this day in age you need an individual you can count on, and at the Law Offices of Thomas D. Reino you get what you see. For more information on business law, or to get business law legal council please contact us by either phone at 817.303.2133, or by fax at 972.264.0891.

Does Your Will Have To Be Written?

Thursday, August 2nd, 2012

In our lives we experience a variety of different things whether it is the good, the bad, or just the plain ugly. Throughout our lives, and stages of life we encounter problems that we ultimately have to solve in order to keep going. From birth to death we pretty much have to deal with problems, mistakes, and random things that the world has to through at us each and every day. However, one problem that many people have today has to deal with their legal aspects of their lives after they have passed away.

Understanding The Purpose of A Will

When it comes down to a will it is there to stand as your last testament pertaining to your estate which includes all of your possessions, your financial accounts and belongings, and even some rights to your past accomplishments. However, when you do not construct a will you are not only putting your estate at danger of being distributed in a manner in which you did not mean for it to be, but could also potentially be leaving your friends and family with not what they were expecting.

Your Options When It Comes Down To Your Will

Ultimately, the answer to the majority of issues that pertains to wills is how it should be crafted, edited, and preserved until it is needed.  Yet, this raises the question does your will actually have to be written down? Yes, and no. Yes, your will usually must be written down unless unusual circumstances occur. When an individual is on their deathbed, or “in extremis”, which means it was the only way, which it could be done before their ultimate passing. However, it must be spoken to at least three individuals over the age of 14 who are not beneficiaries of the will in order to make the will as authentic, and credible as possible.

At the end of the day individuals should always make appropriate preparations for the future whether they are in good health or not. Take the time to sit down with an experienced probate attorney today so that you can start a will and testament that will not only help you with your future estate plans, but also your family and friends in the future.

In this day in age you need an individual you can count on, and at the Law Offices of Thomas D. Reino you get what you see. For more information on business law, or to get business law legal council please contact us by either phone at 817.303.2133, or by fax at 972.264.0891.