As little as we like to think about death, we need to plan for it. After you pass, your estate comprises all your personal and real property that remains after debts are paid, and it must be distributed among the living. Nothing will be given to anyone without a court order, which is why estate planning is so important. If you pass without a will, you die “intestate,” which means the government will get to control how your assets are distributed.
After spending so much of your life trying to grow your wealth, pay off your debts and house, and protect your family, you’ll want to ensure that your assets go to the people you intend to have them. While heirs of an estate will usually work together to settle an estate, some allow greed to take over and stir up trouble.
Here in Texas, there are two types of administrations: an independent administration and a dependent administration. With an independent administration, you appoint someone to settle your affairs according to your will. Without a will, the court appoints a “dependent administrator,” which will end up requiring more of your money.
Estate planning is essential for every family, but there is no a one-size-fits-all method for everyone. At Allen Gardner Law, we will listen to your needs and learn more about your circumstances to help you create a will. We serve clients throughout East Texas, including Tyler, TX; Texarkana, TX; Longview, TX; and Terrell, TX. Call us today to get started.