When you have anything valuable, having a will in place before you pass away is vital to ensure that your wishes for your estate are followed. When properly worded, the will lets those left behind know how you wish your property, bank accounts and other assets to be distributed. The need for a will is especially important if your wishes might not reflect the priorities you had while you were living. The family of one Texas billionaire is asking the court to seal his will because the contents of it name is wife as executor and leave his belongings to family members.
It might come as a shock to some that the man didn't leave at least a portion of his estate to charitable or political causes. Instead, his entire estate was left to family members. An attorney for the man's widow has asked the probate court to seal the will, which would stop the public from viewing its contents. The attorney claims the widow's safety and privacy would be at risk if the judge doesn't seal the will.
The now-deceased, self-made billionaire was head of a corporate empire with a variety of interests.
This case highlights the importance of spelling out your wishes in a will. Even though this case involved a billionaire, it is also important for anyone who has a bank account or assets to have a will. Obtaining the assistance from an experienced Texas estate planning attorney can help you to ensure that you have all the documents in order that will make it easier for your family to execute your will.
Source: KSWO News, "Attorney: Simmons' will left no money to politics" Nomaan Merchant, Jan. 29, 2014