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Should you make a Will? It depends on whether you trust the government with your property. - YouTube
Channel: Matthew Harris Law, PLLC
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One of the most common legal questions聽
I'm asked is, "Do I need a Will?"聽聽
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It's a very simple question, but the answer聽
depends on what type of person you are.
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We've devised a very simple test to see聽
if you would benefit from writing a Will.
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Here's the test. Choose which聽
one describes you the best:
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Option A: I trust the government to know what's聽
best for my property after I pass away and I聽聽
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trust that they will distribute my property聽
to my family members equally and fairly;
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Option B: I've worked hard to earn everything聽
I own and I want certain friends and family聽聽
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members to receive specific items with聽
sentimental value after I pass away.
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If you chose option A then congratulations!聽
You've just saved a few minutes that you聽聽
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would have wasted thinking about writing聽
a Will and you can stop watching now.
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In Texas, the law defines passing away聽
without a valid Will in place as "Intestacy."聽聽
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If you chose this option, you might聽
benefit from a quick review of the laws聽聽
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regarding Texas Intestate Succession. This is to聽
ensure that the government's decision for your聽聽
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property matches your own. You might find that it聽
does not. We'll cover Intestacy in a future video.
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If you chose option B, then I regret to inform聽
you that you are going to have to set aside聽聽
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a few minutes of your day聽
thinking about your Will.
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You might be confused with my measurement聽
of Will writing in mere minutes.聽聽
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Don't worry because I didn't misspeak. A Will聽
doesn't have to be a difficult thing to write.聽聽
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I'm certain that you could write a聽
legally effective Will for yourself聽聽
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without having to ever step inside of a聽
lawyer's office. However, I wouldn't advise it.
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A Will written wholly in your own handwriting聽
is called a Holographic Will in Texas. However,聽聽
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you must take precautions in聽
executing a Holographic Will聽聽
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to ensure it is valid. I wouldn't聽
advise going at it alone.
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If you're anything like me, you're probably聽
going to stop listening in the next 5 second聽聽
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and get started with writing a聽
Will. Trust me, I know how you feel聽聽
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because I'm hard-headed and I like聽
to figure things out on my own.
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Writing a Will is more like baking a聽
cake where you put ingredients in a pan,聽聽
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pop it in the oven, and then 30 minutes later聽
you get to see if you did everything right.聽聽
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Just like the cake, you only聽
get one chance with the Will聽聽
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and if you forget one of the elements then it聽
reverts back to as if there never had been a Will.
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Remember from earlier, no Will means Intestate聽
Succession, which means the government decides聽聽
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what happens to your property. The problem聽
with an invalid Will may never affect you,聽聽
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but it will absolutely affect your family and聽
your friends who are left trying to piece together聽聽
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what you would have wanted.
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Again, if you chose option B, and you聽
are absolutely set on writing your own聽聽
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Holographic Will, at least do your friends聽
and family a favor. Take it to an attorney聽聽
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for thier opinion on whether or not聽
it is valid according to Texas law.
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Therefore, I recommend speaking with an attorney聽
about writing a "Simple Will." A Simple Will isn't聽聽
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expensive. In fact, a Simple Will doesn't take聽
much of your time or effort. Your attorney should聽聽
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be able to explain the necessary parts of a Simple聽
Will. Your attorney can also describe the steps聽聽
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that you need to take to execute a Simple Will, in聽
a way that will stand firm after you've passed on.
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So pop a cake in the oven, spend that waiting聽
time making a list of your most prized possessions聽聽
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along with who should receive聽
them. While that cake is cooling,聽聽
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call your Estate Planning Attorney聽
to arrange a consultation.
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If you know someone, especially a family member,聽聽
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who is considering a Will, you can send them聽
this video by clicking the Share button below.聽聽
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If you found this video helpful, then you can聽
let us know by just subscribing to our channel.聽
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Be sure to check out some of our other videos,聽
and don't forget that we post new videos bi-weekly聽聽
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on Thursdays. If there's a topic you want to聽
see a video for, then tell us in the comments.
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From all of us here at Matthew Harris聽
Law, we appreciate you watching.
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