What is a letter of intent and how does it work?

A letter of intent is a document used in estate planning law in Texas that states a person’s wishes concerning their assets. It dictates how the person’s wealth, property, and belongings will be divided once they are gone. This document essentially takes the place of a will or trust. The letter of intent provides a plan for the distribution of the person’s estate and can be amended or revoked as desired. It can include detailed information about specific assets and an explanation of the reasons behind the distribution. It can also note beneficiaries, executors, and guardians. The document is not legally binding, but it does provide the court with insight into a person’s wishes regarding their estate. By providing this information, the court can make a more informed decision about how to distribute it. Although the letter of intent is not legally binding, it can help reduce the likelihood of disagreements among family members or beneficiaries. It can also provide guidance to those tasked with settling the estate, including executors, guardians, and trustees. In some cases, it can be used as evidence to support a person’s wishes regarding their estate.

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What is a letter of intent and how does it work?

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