What happens if I don't have an estate plan?

If you do not have an estate plan in place in Texas, there are laws in place that will govern how your assets are distributed after you pass away. These are called “intestacy laws” and they dictate who will receive what part of your estate. Generally speaking, the laws are designed to protect the interests of spouses and children if they are alive. Depending on the size of your estate, your assets will be divided up among your children, spouse, and other living relatives. If you don’t have any living relatives, then the state of Texas will take your assets and use them to pay off any debts you have. Any remaining assets will then go to the state’s general fund. Having an estate plan in place is important for many reasons. It allows you to make your wishes known and ensure that your assets are distributed the way you want. This can reduce the stress and confusion for your loved ones, who may otherwise have to deal with complicated laws and procedures if something is not in place. Additionally, an estate plan helps to avoid costly court fees and other administrative expenses. If you want to make sure that your assets are properly handled after you’re gone, it’s important to consult with an estate planning attorney and create an estate plan as soon as possible.

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What happens if I don't have an estate plan?

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