The Importance of Having a Will

While none of us like to dwell on the inevitability of death, it’s crucial to have a plan in place for how your assets and belongings will be distributed after you pass away. If you die without a valid will, known as dying “intestate”, there can be serious consequences and headaches for your loved ones left behind.

Intestate Succession Laws Determine Everything When you die intestate, the state’s intestate succession laws dictate how your property and assets are distributed. In Texas, if you are married and have children, your spouse gets your community property plus a life estate in one-third of your separate personal property. Your children get equal shares of the remaining separate personal property. If you have no spouse or children, assets go to parents, siblings, or other relatives based on degree of relation.

These intestate laws make no consideration for your specific wishes or unique family situations. For example, you may want certain valuable personal possessions to go to specific friends or family members. Without a will, those items may not go where you would want. Or you may have separated from your spouse and want them excluded from inheriting. Intestate laws don’t account for these types of situations.

Your Loved Ones Could Face Major Hassles

Dying intestate creates a lot of potential headaches and legal hurdles for those you leave behind. Without clear instructions on how to divide your assets, disputes and fighting among relatives is common in Texas and other states. This can pit family members against each other and breed resentment.

The probate court process also becomes more complicated and lengthy without a valid will. Courts have to determine which relatives should inherit based on intestate succession laws. This can significantly delay the distribution of your assets and increase court costs and legal fees that get paid from your estate.

You Can’t Choose Guardians for Minor Children One of the most important aspects of a will for parents is nominating guardians for their minor children in case both parents pass away. Without a will, the courts will decide who should raise your children, which may go against your wishes. A will allows you to nominate guardians you fully trust to look after your kids.

Take Control of Your Legacy By having a proper will in place, you retain control over what happens to your possessions rather than leaving it up to state laws and the courts. You can specify charitable donations, create trusts to manage the distribution of funds over time, and ensure your assets go exactly where you want.

Wills also allow you to name the executor of your estate – the person who will handle the logistics of carrying out your final wishes. Without a will, the court appoints an administrator, which may not be the person you would prefer.

Don’t risk putting your loved ones through undue stress, turmoil and family infighting. Consult an estate attorney to create a will that protects your assets and accurately reflects your final wishes under Texas law. A little planning now provides invaluable peace of mind.