Legal Question in Wills and Trusts in Texas
I am an 80 yr old widow that needs a last will. I live in the state of Texas.
Is it possible to leave me meager estate on only 1 of my 5 children? This child is also the beneficiary of my life insurance. How should I achieve this without it costing me an "arm & a leg+? Thanks
2 Answers from Attorneys
Wills do not have to be expensive. Shop around and talk with a few lawyers. On a simple will with a small estate, a will can be drawn up for a few dollars. One thing to watch out for is the other children thinking that the beneficiary took advantage of you, and that's why they're getting cut out.
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Yes, you can certainly leave your estate to only one child if you like- you are free to leave your assets to anyone you wish.
You can find the form for a simple will online, and do it yourself, for a few dollars - even for free, if you know where to look. However, there are some risks to the "do-it-yourself" approach - if your will is not executed correctly, it will not be legally valid. For a few dollars more, you can still conveniently obtain your will online, but with legal advice and attorney assistance, to make sure that it is done correctly. I offer this service on my own website, for example:
http://www.perezlawonline.com/texas-wills-powers-of-attorney-and-living wills
As Mr. Leon pointed out, it is important to avoid any appearance of any undue influence by the child to whom you wish to leave your property - the other children could try to challenge your will on that grounds. In order to lessen that risk, you might want to make your intentions known now, so that no one is surprised, or you could explain your reasons in the will itself.