Drafting a will with our McAllen lawyers can be a critical step. However, some people may think that their possessions will go to their spouse as long as they are married. We want to remind you that this is not always the case. If you have incurred some debt, this debt can still affect living family members. We want to share a few key pieces of information you need to know while drafting your estate plan.
Include Your Debt in the Will
If you pass away with a large debt without creating a will, your family members may be forced to pay this debt out of their pocket. However, mentioning debt in your plan ensures that a probate court will take the money owed from your estate assets instead of your loved ones’ wallets.
Including All Your Debt is Key
As you can imagine, you must include all your debt in your will. Not mentioning every debt means that your family will pay whatever is owed. Our attorneys in McAllen Texas can help you determine your total estate assets and write a will that reflects this.
Prepare to draft an estate plan by listing your:
- Outstanding balances.
- Dates the possessions were purchased.
McAllen Probate Lawyers at Your Service
At Fryer and Hansen, we understand the estate planning process can be stressful and confusing, but it doesn’t have to be. Our estate planning lawyers in McAllen can help you through this process. Send us a message online to learn more about our services today.