Have you ever wondered what happens to your assets and properties if you pass away without a will in Texas? The state has a plan for that, but it might not match your wishes. Texas intestacy laws kick in when someone dies without a valid will, and these rules can surprise many families.
Understanding how the state divides assets can highlight the significance of creating a solid estate plan. Whether you are a young professional, part of a growing family or enjoying retirement, knowing these crucial rules can help you make informed decisions about your future. Read the rules of Texas intestacy and discover why planning matters for you and your loved ones.
Who gets what?
When a person dies with a spouse and children, the state divides the assets. The surviving spouse receives one-third of the personal property, while the remaining share goes to the children or their descendants.
If there are no children, the surviving spouse inherits all personal property. Without a spouse, the estate passes to the children and their descendants.
Without children or a spouse, the estate goes to the deceased’s parents equally. If only one parent survives, half goes to that parent and half to siblings or their descendants. If no parents survive, the siblings and their descendants inherit everything.
Without close relatives, the estate splits between paternal and maternal relatives. Each side’s share passes through grandparents, then to more distant relatives.
The importance of estate planning
Texas intestacy laws serve as a safety net but are not always in line with a person’s unique wishes. By creating a well-crafted estate plan, you gain control over how your assets are distributed and ensure your loved ones are comfortable and cared for according to your desires.
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