If you are like most people, writing a Will is not top on your list. But if you don’t have one, even one you have written yourself, the Texas legislature has written one for you. The state’s will may or may not give your property to the people you would choose.
For instance, if you have children that are not also your spouse’s children, Texas law directs that your property will go mainly to your children rather than to your spouse.
If you have minor children, and you do not provide for your property to go to a trust for them, then a guardian will have to be appointed by a Court to handle the property you leave. Guardianship property must be managed and distributed based on very restrictive laws that limit how a guardian of an estate can invest and use the property, which is often not in the best interest of the child.
Guardianship generally involves significant court costs and legal fees. If you have been divorced, your ex-spouse will almost inevitably end up controlling your money because if a guardian of an estate is required, in Texas the Court will almost always appoint the other parent as the guardian.
All of this can be avoided by writing your own Will, choosing exactly who will receive your property in what proportions, and who will control any property you leave minor children. We at Branscomb Law would like to help you create an estate plan that accomplishes the goals you have for your family and property.