If You Die Without a Will, What Happens to Your Assets?

A significant percentage of Americans do not currently have an effective estate plan in place. According to data provided by AARP, nearly 60 percent of all Americans adults— including more than one third of people between the ages of 50 and 70 — do not have a will.

Without a will, your assets will be distributed under the default rules set up by your state. In Texas, these clunky, broad standards are known as the rules of intestacy. They are not well-suited for every person’s estate. An experienced estate planning attorney in San Antonio can help you put together a will that will give you true peace of mind and full control over the distribution of your property.

Texas State Law Will Divide Your Assets

If you pass on without a will, then your heirs will be determined under Texas state law. To be clear, the state is not simply going to take your assets. Efforts will be made to find a proper heir. However, the process can be extremely complicated — and you will have zero input. How exactly your assets will be divided depends on several different factors. There are three primary questions that must be answered:

  1. Do you have children or other dependents?
  2. Are you currently married?
  3. If you are married, do you have separate property?

In some cases, dividing assets is not particularly challenging, even when there is no will. For example, if you are married without any children, and you have no separate property, it is very likely that your spouse will be awarded all of your assets — since those assets are community property. That being said, if you are unmarried, you have children, or you have any separate property, dividing assets can become extremely complicated.  

The Benefits of a Will

You Get Full Control

Through proper estate planning, you can decide exactly what will happen to your assets. Without a will or any alternative estate planning device, your property will be passed on without your input. Few people find this desirable — it can create a lot of stress. The good news is that making a will does not have to be difficult. A lawyer can help you arrange your estate in the most efficient and effective manner.

You Can Reduce Administrative Costs

No one wants their assets to be eaten up by administrative fees. If you do not have a will, the administrative costs associated with dividing up your assets will almost certainly be far higher. Through effective estate planning, you can make sure that you have as much as possible to leave to your family, your loved ones, and any charitable causes that you want to support.

You Can Eliminate Conflict

Perhaps most importantly, proper estate planning can help to limit conflict between your loved ones. Our law firm knows that you do not want your family fighting over your assets after you have passed on. No one wants to leave a burden behind. Our compassionate estate planning lawyers will work with you to craft a clear plan that will help to ensure that conflict is prevented.

Contact a San Antonio Estate Planning Lawyer Today

At Weisinger Law Firm, PLLC, we always take the time and energy to get to know our clients. Our law firm works tirelessly to help people obtain peace through planning. We are committed to making the estate planning process as easy and smooth as possible.

For a free, fully confidential consultation, please do not hesitate to contact our legal team today at (210) 201-2635. From our office in Selma, we serve communities throughout the region, including San Antonio, Seguin, and New Braunfels.

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