If you pass away in Texas and you do not have a will, it is known as “dying intestate”. While this sometimes happens, especially when a death is unexpected, it is something you absolutely want to avoid if you can. This is why it is good to craft a will at any time, no matter your age or the likelihood of your passing.
For one thing, you will not have any say in how the wealth is distributed. The state has a set system that will be applied to any money and other property that you left behind. This system is designed to split everything up, but there is no promise that it will be done how you want it to be done.
For example, if you were married and you had two children, you may want to leave all of the money to your spouse, knowing that your children have their own income streams. If the children were from that spouse, this is what happens. However, if one of them was from another spouse, then the two children split half of the money, and the spouse gets the other half.
Additionally, there could be extra costs for your heirs if you do not have a will, and the whole process could be delayed. Since the legal system then has to handle the distribution, it can take some time to do even simple things like officially labeling people as heirs and legally determining what assets they will get.
To save your family this hassle and to make sure that your desires are met, you need to have a will in place.
Source: Texas Young Lawyers Association, “Texas Probate Passport: A guide to probate and estate planning in Texas” accessed Jan. 27, 2015
