The first choice of every human being, when it comes to the distribution of his/her wealth and asset upon death, is to his/her beloved ones. We all want that our hard-earned assets are taken care of and well kept in the family. This is why having a Texas last will and testament drawn up, while you are alive, is of extreme importance if you are a Texas resident.
If, after your demise, there is no will in place, then the state moves to distribute your assets as it deems fit. Yes, it is a scary picture even to imagine. So, do not wait any further. Prepare your last will and testament Texas today from CocoSign's template library.
What Is a Texas Last Will and Testament?
It is a legal document governed by Texas’s statutes and law drawn by the testators to leave/distribute their wealth (monetary or real estate) to their children, spouse, friends, relatives, charities, and others.
Texas' last will and testament also make provisions for child (minor) care or even pet care. Every legal condition that ought to be fulfilled in drawing up a last will and testament is mentioned under Texas Probate Code § 57.
Get a Copy of Our Free Last Will and Testament Texas Template!
Our last will and testament Texas template is simple, easy to understand and customize, written by legal experts. With this template, you can take the time to plan your estate and ensure your loved ones are taken care of!
What's Included in a Texas Last Will and Testament?
There are a lot of small elements that are put together to form a functioning Texas will. These include:
Appointing an Executor
Appointing an executor to carry out your will as mandated by you after your death, is the first and foremost job. The testator names the executor in the last will itself at the time of drafting. The executor is required to secure and prepare an inventory of all the assets (material and otherwise) owned by the testator before moving to distribute them.
It is the executor’s fiduciary duty to act impartially and responsibly in dealing with the will of the testator.
Distribution of Estate Assets
Bequests or distribution of estate assets forms one of the main provisions in a will. There are, generally speaking, three types of bequests:
- Percentage – Here, the estate is divided as the percentage of the overall value.
- Specific – In this, as the name suggests, specific parts of the estate are left to specific people as named in the will.
- Residuary – Once all the specific estate is given away, the remaining or residual is then given to a single beneficiary.
At times a separate “personal property memorandum” is created that sheds light on receivers of tangible personal property. The memorandum decides on items such as souvenirs, jewelry, books, furniture and such.
Selecting Guardians for the Minors
If the testator has young children (minor) for whom a guardian is necessary and important, the testator might need to appoint a guardian to look after them. The guardian is responsible for the children’s education, health, finances, and also looks after the estate that is entrusted to the minors. The guardian is to take care of the minors until the time they reach adulthood.
Disposing Remains
Most of the time, the last will of Texas residents also carry their wishes and preferences for funeral and how they would like their remains to be disposed of.
By the authority invoked in the executor by the last will, it is the executor’s solemn duty to carry out the testator’s wishes for his/her last rites.
Benefits and Limitations of a Texas Last Will and Testament
There are several benefits of having a last will and testament, including:
- Testators can pre-decide how their estate will be distributed
- A guardian of choice can be appointed by the testators in their last will
- The state of Texas permits the creation of a “pet trust” for taking care of the pets
- In case of a dispute, if the matter is taken to court for the process of probate, having a will in place can smoothen up the process
A couple of limitations that might crop up are:
- No spouse can distribute the entire property in his/her will
- In the absence of a will, Texas state’s laws of intestacy are invoked for the disbursement of the estate
How to Form, Change, and Revote a Last Will and Testament in Texas?
Drawing up a last will and testament in the state of Texas basically requires:
- The age of the testator must be a minimum of 18 years at the time of drafting. However, there is an exception for people who have served in armed forces or were legally married
- The testator is of sound health, physically and mentally. S/he must be able to make the decisions necessary and understand the consequences that may arise.
- S/he must possess the right and power to draw the last will
- If the will is typewritten or written by someone else, it must be signed by at least two different witnesses of age 14 years and above
- The state of Texas accepts holographic or handwritten wills if it is written entirely by the testator
- The last will and testament in Texas can be used to allocate property to anyone. However, as per the law, at least one beneficiary has to be declared.
The testator can make changes to Texas last will and testament by bringing in the codicil – amendment to the existing will that is created using the same procedure as the actual will.
If you wish to revoke your Texas will forms, you can do so by:
- Drafting a codicil
- Declaring in writing expressing explicitly that the will is revoked
- Physically destroying the will at the hands of the testator or by someone in the presence of the testator upon his instruction
Get a Copy of Our Free Last Will and Testament Texas Template!
Our last will and testament Texas template is simple, easy to understand and customize, written by legal experts. With this template, you can take the time to plan your estate and ensure your loved ones are taken care of!
FAQs
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Why is having a last will and testament important?
Having a last will and testament is important because:
- It helps you distribute your wealth and assets after your death
- It helps you decide who receives your assets and in what manner and amount
- You can choose who can be the executor to carry out your will in the desired way
- You can decide upon the guardianship of your minor children
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What is a codicil?
If you are looking to make any amendment in your last will and testament, then you will have to draw what is called a codicil. A codicil is the same will but with the amendments drawn up in exactly the same manner.
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What is the difference between a last will and a healthcare directive?
Last will carries your wishes regarding the distribution of your wealth after your death. At the same time, a healthcare directive is created to inform an agent about your wishes and preferences regarding healthcare measures during your incapacitation.
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Is it necessary to have both the power of attorney and the last will in place?
Yes. While a power of attorney works by conferring your powers onto an agent while you are alive, the last will is used to distribute your assets and wealth amongst your loved ones after your death.
Creating a last will is very easy, and you do not require a lawyer’s help to do so. You can download from the many different Texas last will templates from CocoSign and get started. These forms are carefully designed and come pre-divided into sections. All you have to do is fill in the required information.
DOCUMENT PREVIEW
Texas Last Will and Testamentof
___________________________________
I, ________________________, resident in the City of ____________________, County of ____________________, State of Texas being of sound mind, not acting under duress or undue influence, and fully understanding the nature and extent of all my property and of this disposition thereof, do hereby make, publish, and declare this document to be my Last Will and Testament, and hereby revoke any and all other wills and codicils heretofore made by me.
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EXPENSES & TAXES
I direct that all my debts, and expenses of my last illness, funeral, and burial, be paid as soon after my death as may be reasonably convenient, and I hereby authorize my Personal Representative, hereinafter appointed, to settle and discharge, in his or her absolute discretion, any claims made against my estate.
I further direct that my Personal Representative shall pay out of my estate any and all estate and inheritance taxes payable by reason of my death in respect of all items included in the computation of such taxes, whether passing under this Will or otherwise. Said taxes shall be paid by my Personal Representative as if such taxes were my debts without recovery of any part of such tax payments from anyone who receives any item included in such computation.
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PERSONAL REPRESENTATIVE
I nominate and appoint ________________________, of ___________________________, County of ________________________, State of ______________________________ as Personal Representative of my estate and I request that (he/she) be appointed temporary Personal Representative if (he/she) applies. If my Personal Representative fails or ceases to so serve, then I nominate _____________________________of __________________________, County of ____________________________, State of ______________________ to serve.
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DISPOSITION OF PROPERTY
I devise and bequeath my property, both real and personal and wherever situated, as follows:
1st Beneficiary
_______________________ [full name], currently of _______________________ [address], as my _______________________ [relation] whose last four (4) digits of their Social Security Number (SSN) are xxx-xx-_____ with the following property:
______________________________________________________________________
2nd Beneficiary
_______________________ [full name], currently of _______________________ [address], as my _______________________ [relation] whose last four (4) digits of their Social Security Number (SSN) are xxx-xx-_____ with the following property:
______________________________________________________________________
3rd Beneficiary
_______________________ [full name], currently of _______________________ [address], as my _______________________ [relation] whose last four (4) digits of their Social Security Number (SSN) are xxx-xx-_____ with the following property:
______________________________________________________________________
If any of my beneficiaries have pre-deceased me, then any property that they would have received if they had not pre-deceased me shall be distributed in equal shares to the remaining beneficiaries.
If any of my property cannot be readily sold and distributed, then it may be donated to any charitable organization or organizations of my Personal Representative’s choice. If any property cannot be readily sold or donated, my Personal Representative may, without liability, dispose of such property as my Personal Representative may deem appropriate. I authorize my Personal Representative to pay as an administration expense of my estate the expense of selling, advertising for sale, packing, shipping, insuring and delivering such property.
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OMISSION
Except to the extent that I have included them in this Will, I have intentionally, and not as a result of any mistake or inadvertence, omitted in this Will to provide for any family members and/or issue of mine, if any, however defined by law, presently living or hereafter born or adopted.
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BOND
No bond shall be required of any fiduciary serving hereunder, whether or not specifically named in this Will, or if a bond is required by law, then no surety will be required on such bond.
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DISCRETIONARY POWERS OF PERSONAL REPRESENTATIVE
My Personal Representative, shall have and may exercise the following discretionary powers in addition to any common law or statutory powers without the necessity of court license or approval:
A. To retain for whatever period my Personal Representative deems advisable any property, including property owned by me at my death, and to invest and reinvest in any property, both real and personal, regardless of whether any particular investment would be proper for a Personal Representative and regardless of the extent of diversification of the assets held hereunder.
B. To sell and to grant options to purchase all or any part of my estate, both real and personal, at any time, at public or private sale, for consideration, whether or not the highest possible consideration, and upon terms, including credit, as my Personal Representative deems advisable, and to execute, acknowledge, and deliver deeds or other instruments in connection therewith.
C. To lease any real estate for terms and conditions as my Personal Representative deems advisable, including the granting of options to renew, options to extend the term or terms, and options to purchase.
D. To pay, compromise, settle or otherwise adjust any claims, including taxes, asserted in favor of or against me, my estate or my Personal Representative.
E. To make any separation into shares in whole or in part in kind and at values determined by my Personal Representative, with or without regard to tax basis, and to allocate different kinds and disproportionate amounts of property and undivided interests in property among the shares.
F. To make such elections under the tax laws as my Personal Representative shall deem appropriate, including elections with respect to qualified terminable interest property, exemptions and the use of deductions as income tax or estate tax deductions, and to determine whether to make any adjustments between income and principal on account of any election so made.
G. To make any elections permitted under any pension, profit sharing, employee stock ownership or other benefit plan.
H. To employ others in connection with the administration of my estate, including legal counsel, investment advisors, brokers, accountants and agents and to pay reasonable compensation in addition to my Personal Representative’s compensation.
I. To vote any shares of stock or other securities in person or by proxy; to assert or waive any stockholder’s rights or privilege to subscribe for or otherwise acquire additional stock; to deposit securities in any voting trust or with any committee.
J. To borrow and to pledge or mortgage any property as collateral, and to make secured or unsecured loans. My Personal Representative is specifically authorized to make loans without interest to any beneficiary hereunder. No individual or entity loaning property to my Personal Representative or trustee shall be held to see to the application of such property.
K. My Personal Representative shall also in his or her absolute discretion determine the allocation of any GST exemption available to me at my death to property passing under this Will or otherwise. The determination of my Personal Representative with respect to any elections or allocation, if made or taken in good faith, shall be binding upon all affected.
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CONTESTING BENEFICIARY
If any beneficiary under this Will, or any trust herein mentioned, contests or attacks this Will or any of its provisions, any share or interest in my estate given to that contesting beneficiary under this Will is revoked and shall be disposed of in the same manner provided herein as if that contesting beneficiary had predeceased me.
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GUARDIAN AD LITEM NOT REQUIRED
I direct that the representation by a guardian ad litem of the interests of persons unborn, unascertained or legally incompetent to act in proceedings for the allowance of accounts hereunder be dispensed with to the extent permitted by law.
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GENDER
Whenever the context permits, the term “Personal Representative” shall include “Executor” and “Administrator,” the use of a particular gender shall include any other gender, and references to the singular or the plural shall be interchangeable. All references to the Internal Revenue Code shall mean the Internal Revenue Code of 1986 or any successor Code. All references to estate taxes shall include inheritance and other death taxes.
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ASSIGNMENT
The interest of any beneficiary in this Will, shall not be alienable, assignable, attachable, transferable nor paid by way of anticipation, nor in compliance with any order, assignment or covenant and shall not be applied to, or held liable for, any of their debts or obligations either in law or equity and shall not in any event pass to his, her, or their assignee under any instrument or under any insolvency or bankruptcy law, and shall not be subject to the interference or control of creditors, spouses or others.
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GOVERNING LAW
This document shall be governed by the laws in the State of Texas.
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BINDING ARRANGEMENT
Any decision by my Personal Representative with respect to any discretionary power hereunder shall be final and binding on all persons interested. Unless due to my Executor’s own willful default or gross negligence, no Executor shall be liable for said Executor’s acts or omissions or those of any co‑Executor or prior Executor.
I, the undersigned ________________________, do hereby declare that I sign and execute this instrument as my last Will, that I sign it willingly in the presence of each of the undersigned witnesses, and that I execute it as my free and voluntary act for the purposes herein expressed, on this ____ day of ________________, 20____.
________________________________ ___________________________________
Testator Signature Testator (Printed Name)
The foregoing instrument, was on this ____ day of ________________, 20____, subscribed on each page and at the end thereof by ________________________, the above-named Testator, and by (him/her) signed, sealed, published and declared to be (his/her) LAST WILL AND TESTAMENT, in the presence of us and each of us, who thereupon, at (his/her) request, in (his/her) presence, and in the presence of each other, have hereunto subscribed our names as attesting witnesses thereto.
________________________________ ___________________________________
Witness Signature Address
________________________________ ___________________________________
Witness Signature Address
TESTAMENTARY AFFIDAVIT
STATE OF ____________________
COUNTY OF __________________, SS.
Before me, the undersigned authority, on this day personally appeared ___________, testator, ____________________, witness and ___________________, witness, known to me to be the testator and the witnesses, respectively, whose names are signed to the attached or foregoing instrument, and, all of these persons being by me duly sworn, the testator declared to me and to the witnesses in my presence that the instrument is the testator’s last will and that the testator has willingly signed or directed another to sign for him/her, and that the testator executed it as the testator’s free and voluntary act for the purposes therein expressed; and each of the witnesses stated to me, in the presence of the testator, that they signed the will as witnesses and that to the best of their knowledge the testator was eighteen (18) years of age or over, of sound mind and under no constraint or undue influence.
______________________________ ______________________________
Testator Signature Witness Signature
______________________________ Witness Signature
Subscribed and sworn to before me by the said testator and the said witnesses, this
____ day of ________________, 20____.
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Notary Public
My Commission expires:
