Each state has a vested interest in the orderly transfer of property after someone dies. It’s so important, in fact, that if you don’t have a will, the state creates one for you.
Each state has an intestacy statute, which is a statutory formula dictates how your assets will be distributed if you die without a will. The statute is rigid and inflexible and may not reflect the way you would want your assets distributed. For information regarding how property is distributed if you die without a Will in Texas, click on the link.
Estate planning is especially significant if you are a part of a non-traditional family. The intestacy laws make no provisions for unmarried couples, gay or straight. So if you want to make sure someone who is not related to you by blood or marriage gets any of your assets, estate planning is essential.
