Page 45 - Senior Link Magazine Summer 2017- Online Magazine
P. 45

the community property.  In the example, Robert and Carol did not
        have any children, but if they did, then Damien would have shared
        Robert’s community half proportionally with any children Robert
        and Carol produced together.

        When does a will become effective, and how does that happen?
        Some people seem to think that merely executing a will has some   8207 Hudson Ave, Ste D • Lubbock, TX 79423
        kind of legal effect.  More than once, I have had someone, Joe, for
                                                                                       (806) 368-8805
        example, suggest to me that because Ethel named him in her will as
        the person to carry out her instructions, her executor in other words,
                                                                                                  fax: (806) 686-0444
        that he has some kind of authority to act even before she dies.  Nope.
        Sometimes even Ethel will suggest that Joe can act for her in the                       Medicaid Qualification
        here and now since her will names him the executor.  Nope.  What                        Supplemental Needs Trusts
        Ethel and Joe are thinking of is a power of attorney which is an   Lee Franks           Estate Planning
        important topic for another day and another article.  A will becomes                    Guardianship
        effective after two things have happened.  First, the person who                        Probate
        executed the will has to die, and then a court of law has to issue an
                                                                                                  Your Elder Law
        order probating the will.                                                                       &
                                                                                               Estate Planning Team
        That gets us to how a will becomes effective – probate.  To probate   Laura Beth Pleasant
        means to prove, think probe or probity.  So you die, and then                          FPLAWTEAM.COM
        someone relevant to the estate, usually the person named as executor
        applies to the appropriate court of law, usually the local county court,
        to probate your will.  Once the prescribed amount of time passed
        after the application is filed, the judge hears evidence and determines
        whether the will is valid.  Most of the time, the applicant provides
        the proper proof without anyone contesting the will’s validity, and
        the court signs an order admitting the will to probate and authorizes
        the county clerk to issue Letters Testamentary allowing the executor
        to represent and to act for the decedent.

        At the end of the day, a will makes it much more likely that your
        stuff goes to the people you want to get it (and in the percentages
        you prefer) when you die, but it does not become effective until you
        actually pass away and a court admits it to probate.  Alternatively,
        dying without a will can lead to perverse outcomes that you would
        prefer to avoid.

        In no way does this short article cover all you should know about
        wills or the probate process, rather this article aims to motivate
        you to learn more about wills and the probate process.  Learn more
        about protecting your family, and relieve them of the burden of
        your passing as much as you can.  It will be hard enough losing you
        without the added stress of facing it unprepared.

        Please see an attorney if you do not have a will or need to look into probate.  Although
        himself an attorney, the author offers this article only to inform and to entertain.
        This article contains no actionable legal advice and cannot create an attorney-client
        relationship between the author and any reader.






                                                                                                Lubbock Senior Link       45
   40   41   42   43   44   45   46   47   48   49   50