Creating a will might not seem fun -- it might even seem painful -- but not having a will may be even more painful for family members in Texas. This is because the lack of a will means that one's estate has to go through an administration proceeding in probate court. When that occurs, a decedent's assets are distributed by statute by the laws of intestacy. In that event, the estate's assets may not be divided as the deceased individual would have wanted.
Will is an important part of estate planning in Texas
Digital assets should be included in Texas estate planning
Understandably, most people do not want to discuss their own death. However, death is unavoidable, and surviving Texas family members stand to benefit more when estate plans are in place. Since the internet is a very powerful tool, most people have social media accounts and online bank accounts. Apart from tangible property such as homes and jewelry, it’s also important to include digital assets in estate planning.
Texas women and dealing with easier estate planning
Men and women approach estate planning in different ways. Women are believed to live longer and have custody of their children. Approximately 36 percent of women who are over the age of 65 are widowed. However, there are ways Texas women can have an easier time with estate planning.
Rich or not, anyone in Texas can do estate planning
Despite what some mistakenly believe, making preparations for who will receive an individual's legacy after death is not just reserved for the rich and wealthy. Anyone in Texas with any amount of assets can benefit from engaging in estate planning. One important component of an estate plan is a will, something which can certainly make the probate process less complicated.
Crucial estate planning documents for Texas grantors to include
Regardless of how many assets a person has, there should be a set of instructions in place for surviving family members in the event of an individual's death. Estate planning sets out a road map of a Texas estate owner's wishes while designating appropriate beneficiaries. There are essential documents to be included in estate plans.
