Wills
are the means by which a person (the testator) can direct and control the
disposition of their property in a methodical and orderly manner.
The document should be drafted to
ensure that all issues of importance are addressed and resolved.
Issues such as what property exists, where that property should go,
who should be appointed to disburse the property and should there be children,
who is to gain guardianship of the children.
Texas
does not require a testator follow a specific form when drafting a will to
ensure that the will be valid.
There are even provisions in the Texas code to allow oral wills but
for limited purposes. Should
the will be in written form it can be handwritten or typed.
If handwritten, the will is called a holographic will and must be wholly
in the handwriting of the testator.
Holographic wills do not require witnesses.
No matter the form of the will it must make clear that it is the testamentary
intent of the testator and is meant to come into play upon the death of the
testator.
Should
the will be typewritten, it must be signed and witnessed (executed) under
specific circumstances.
The testator must display capacity to execute the will including the
requirement that the testator be at a minimum of 18 years of age.
Additionally, the will must be signed by the testator and the testator
must witness the signature of two credible witnesses attaining the age of
14. Should changes
be desired after the will is executed they must be made via newly executed
wills or amendments (codicils) to the will.
Any alterations or changes to the face of the will itself are not valid
and will have no legal force.
Things
that can not be done by a will are numerous.
The testator can not change beneficiary designations for insurance
policies, IRA’s, retirement plans, etc.
These accounts are POD (pay on death) accounts and are contractual
obligations and thus can only be altered by requesting and executing change
in beneficiary forms. The
testator can not limit specific behaviors of the beneficiaries if the limitations
are against public policy.
Though this is not as common as in previous eras, it is still a reality.
