Why You Need A Will
If you die without a will (die “intestate”), you cannot choose who will inherit your money, real estate, property, belongings, insurance and retirement benefits (your “estate”). Instead, your estate will be divided according to Texas law. Without a will, your siblings and grandchildren are not likely to inherit anything from you. Your estate could be tied up in a lengthy probate process involving a court-appointed attorney, filing fees, and a court hearing—all paid for with money taken out of your estate. With a will, you get to decide what happens to your property. The person you choose (the “executor”) sees to it that your property is distributed the way you intended.
No. Without a will, your estate will be divided under state law depending on whether it is classified as separate or community property. Community property is all property acquired by both spouses during the marriage, including all cash, bank accounts, retirement, personal property and real estate, unless it is considered separate property. Separate property is property owned by a spouse before the marriage, or acquired during the marriage by one spouse as gift, an inheritance, or through a personal injury settlement.
Yes. Community property only applies if you are married. If you are not married, at the time of death, all of your children, born or adopted, in or out of wedlock will share equally in your estate if paternity is not at issue. You may not want a child who is better off financially to inherit the same as one who needs more financial help. Without a will, your grandchildren won’t get anything unless your child dies before you. If your child dies, your child’s share will pass to his or her children (your grandchildren) in equal shares. If you want to leave something to your grandchildren, you should make a will.
If both parents are alive, each parent will get ½. If both parents are dead, your estate will be divided equally among your siblings. If one parent is alive, that parent will get ½ half and the remaining ½ will be divided among your siblings. If none of your siblings survive you but one parent is still living, that parent takes all.
The other parent, if parental rights have not been terminated. If the other parent is dead (or parents die at the same time), your children will go to the grandparents, but a court may have to decide which set of grandparents will be guardians. In a will, you can name the person(s) you want to be guardians of your children.