What happens if I do not have a Will?

Glad you asked.  It is one of the most frequent questions we receive.

Here is the Texas money/asset plan for those who have no Will:

• Married Person with No Children:  
  • ½ to surviving spouse;
  • ½ to deceased’s parents/siblings
• Community Property – all to surviving spouse 
• Separate Real Estate – 
• Separate Personal Property – all to surviving spouse

• Married with Children
  • all to surviving spouse if none of children are stepchildren.  If there are any stepchildren, then all kids will receive ½ of community property.
  • 1/3^rd of personal property to surviving spouse;
  • 2/3rds to children.
  • 1/3^rd life interest to surviving spouse;
  • 2/3rds to children with remaining 1/3^rd to children upon surviving spouse death.
• Community Property – 
• Separate Personal Property – 
• Separate Real Estate – 

• Unmarried with Children
• All to children

• Unmarried with No Children:
• All to deceased’s parents.
• If only one parent is alive then ½ to the surviving parent and ½ to brothers/sisters of deceased.

Please do not throw your money and assets into the Texas wind.  Get a good Will in place and be at peace.

Do you need a Will?  Give us a call today and get the ball rolling. You will feel better having a clear Will in place.

Some definitions for clarity: 

• Community Property – any property acquired during marriage;
• Separate Property – any property acquired by gift, inheritance, or before marriage;
• Personal Property – is non-land property like money or things.