As our clients know, we strongly recommend that every individual in Texas takes the time to draft, write, and execute a will. The benefits are too many to count: for example, wills and estate plans help you make decisions about your assets; they allow for easy transfer of assets to loved ones; they help your family avoid conflict down the road; and they ensure that you are thinking about your loved ones’ long term futures in a sensible and legally prudent way. For those without a will, though, the state of Texas decides who will inherit the decedent’s estate. Today’s blog post reviews who inherits a decedent’s estate in Texas when that decedent dies without putting his wishes in a will.
Key Terms: Intestacy and Laws of Intestate Succession
“Intestacy” by definition, is the state of dying without a will. In Texas, the “laws of intestate succession” dictate to inherits a person’s assets if that person dies without a will. Note that these laws do not apply to beneficiaries who know that a will exists but that disagree with the contents of the will. These laws are only for those who die without any kind of valid will.
In Texas, laws of intestate succession say that if a married person dies without a will, one-third of his assets go to his spouse and two-thirds of the assets go to his children. If an unmarried person dies without a will, the assets go first to the decedent’s children, then to his parents. Next in line are the decedent’s siblings, then his grandparents.
If a person has no living family members and dies without a will, the state of Texas takes legal ownership of the person’s assets. Note, however, that this scenario is uncommon, as the state will try to find at least one living relative to inherit the assets at stake.
The Takeaway
The most important takeaway from the laws of intestate succession is that without a will, the state makes important decisions about how to distribute your assets. Your preferences have no bearing in the ultimate decision. To avoid this scenario, contact an experienced Houston estate planning attorney that can help you understand your options and figure out how to formulate a personalized estate plan that works for you.
Do You or Your Family Need a Houston Estate Planning Attorney?
At McCulloch & Miller, our specialty is working with individuals as they figure out how to navigate the complex world of estate planning. If you are looking for a Houston estate planning attorney to help you get started, we might just be the firm for you. Our team offers services related to estate planning, probate, elder law, long-term care, trust administration, and more.
To set up a consultation with a member of our team, give us a call today at 713-597-7176. You can also fill out our online form, and one of our Houston estate planning attorneys will reach out to talk with you about the details of your case as soon as possible.