A will is an important document to have drawn up while you are still living in order to prepare for life after your death. If someone is unsure of how they want to distribute their assets or who their possessions should go to, it is necessary to have professional help. Without professional opinions, common mistakes could be made when writing a will.

These mistakes could include:

• Leaving out assets
• Dismissing mandatory fees and taxes
• Not naming all guardians
• Forgetting minute details such as; date and witnesses
• Vague description of possessions

Although these mistakes would not be made on purpose, they do have several consequences associated with them. After your death, your family will, unfortunately, have to go through a long probate process in order to even receive items listed in your will.

If you need assistance constructing your will, please contact the Houston estate planning lawyers of Garg & Associates, P.C. by calling 281-362-2865 today.

The $5,000,000 federal exemption directly relating to estate planning will come to an end in 2012. This exemption will be changed back to it’s original amount of $1,000,000.

It is important to include estate planning on your list of resolutions for the new year. Many had hoped that there would be an extended timeline on this exemption, but currently that doesn’t seem to be the case. In 2012, try focusing your efforts on the basic tools needed in estate planning and outline a plan that can easily be accomplished.

In the new year, take the time to create a living will. Living wills will document what you believe should happen to you in the case of a medical emergency. A will should also be developed, if it hasn’t already. You are able to determine how your assets will be distributed, and to whom, after you are gone. If you have already completed these tasks, then spend some time in 2012 revising their details and refreshing them if necessary.

If you have any questions regarding estate planning, please contact the Houston estate planning lawyers of Garg & Associates, P.C. by calling 281-362-2865 today.