A guide to drafting your estate plan and ensuring your family is protected.

1

Call Your Lawyer

Most lawyers who practice estate planning law realize that, for some reason, having your Will drafted is at the bottom of the average client's to-do list. The fact remains, however, that whether you own a home, are married, have children or all of the above, you need to take the time to protect your family by having this simple document drafted. What most people do not realize is that, today, most lawyers who perform these services can do so quickly and without much cost. In order to find out how your lawyer can help you, however, you must take that first step and call him. If you don't already use a lawyer who can draft your estate plan, simply call the local bar association for a referral. Upon calling the lawyer's office, you'll tell the person answering the telephone that you're interested in having your Will drafted. From there, either the lawyer will contact you personally by telephone or the legal assistant will schedule an office consultation for you to come in.

2

Know Your Estate

By the time you speak to the lawyer, you should be prepared to answer certain questions related to the size and character of your estate. First, you'll need to be generally aware of the value of your estate (i.e., whether your estate is worth a total of more than $1 million) and what your estate consists of (i.e., real property, cash, investments, etc.). Second, by that time, you'll need to have a clear idea of how you want your estate distributed upon your death (e.g., to my spouse, or, half to each child, etc.). Third, in speaking to the lawyer be prepared to provide the names and contact information of each beneficiary, executor and any trustees (if applicable). By providing this information in a clear and concise manner to your attorney, you are not only helping in the process but also ensuring that your wishes are effectively communicated to your attorney.

3

Executing the Documents

After providing all of the information related to your estate and wishes to your attorney, your lawyer will draft your documents and, sometime later, ask you to come back in to sign everything. Take caution, however, Texas law is very particular about "how" estate planning documents like Wills are signed. Though some documents require witnesses and notarization, some do not. Because of the disparity, it is of critical importance that your attorney assist you with the signing ceremony of your documents. Be sure to allow a bit of extra time so that, prior to signing, you can carefully review all of the documents. Though some lawyers draft documents from scratch some simply plug your information into forms which will build your final documents. Either way, however, can lead to the occasional mis-spelled name or typo. You'll want to make sure that you serve as a second set of eyes on the attorney's work so that you ensure your wishes are correctly carried out.

4

Periodic Review

At least every two years, you should review your documents to ensure that what you listed still represents your wishes. When you review your documents, pay particular attention to "who" you've listed in your Will. Is everyone you previously listed still living? Have there been any births or divorces in the family that change your estate plan? If so, consult your lawyer because you may need a revision or codicil.