Why Everyone Should Have a Will – Yes, That Means YOU!

A man tried to sell me a coffin today, but that’s the last thing I need.

According to a recent poll, 54% of Americans say they don’t spend much, or any, time thinking about their own death. If the very thought of death is unpleasant, planning for our own passing can seem insurmountable. However, investing time now to prepare an estate plan can be one of the most important things you can do to protect your loved ones; and the fundamental building block of any estate plan is a will. A will isn’t just for the elderly or the wealthy. It’s a vital legal document for everyone, regardless of age or financial status.

What Happens Without a Will?

Dying without a will is known as “intestacy” or dying “intestate.” This means Texas law will dictate how your assets are distributed, and court intervention may be necessary to appoint a representative for your estate. This can lead to costly and potentially unwanted outcomes.

First, administering an intestate estate is usually more expensive and time-consuming than probating an estate with a valid will. Without a will, the court must first determine the heirs of the decedent before a representative can be appointed, This is done through a legal process called a “determination of heirship.” This process can last months and add thousands of dollars of expense to an otherwise ‘normal’ probate, especially if there is a dispute concerning the legitimate heirs of the decedent.

Only after the heirs have been determined can a representative be appointed. Because there is no will to name an executor, the court will need to choose an administrator. This is usually a surviving spouse, heir, or other loved one. However, disagreements can arise as to who should serve as the estate administrator, and in such cases, protracted legal battles can add even more time and expense to the administration process.

Next, outside these added hurdles to the probate process, dying intestate also robs you of your right to determine where your assets go when you die. Without a will, Texas law determines who inherits your property through a statutory scheme known as “intestate succession.” Although intestate succession favors a surviving spouse and children as the primary inheritors of your estate, this might not align with your intentions, potentially leading to disputes and complications for your family.

Finally, dying intestate often means minor children of the decedent are left without a designated guardian. This can be especially concerning if both parents die simultaneously. Dying without designating a guardian can sometimes lead to disputes among family and loved ones as to who should care for your children. In such cases, the court will have to decide who will act in the best interest of the children without the much-needed guidance of a designated guardian left by the deceased parent(s).

The Benefits of Dying with a Will

A well-crafted will provides clarity, control, and efficiency over your estate. First, a validly executed will with a named independent executor can significantly expedite the probate process. By avoiding intestate procedures and minimizing the risk of contests or disputes during probate, your loved ones can save both time and money.

Second, a will allows you to ensure that your assets are distributed according to your wishes, rather than Texas intestacy law. This can help reduce the potential for disputes among your heirs.

Third, and perhaps most importantly, having an estate plan in place enables you to designate a guardian for your minor children. This can help to avoid painful guardianship disputes after your death, providing your children with stability and security.

Finally, even if you die with little to no assets, having a will with a named executor to represent your estate can be very important. Government agencies, corporations, and even social media companies will often require a court-appointed representative before transacting business or engaging with your estate. Your executor is responsible for carrying out the terms of your will, such as distributing assets, paying debts, and filing necessary paperwork. Clarity as to who should fill this role can be one of the best ways to ease the burden on your friends and family following your death.

It’s Never Too Early to Plan

No matter your age or life stage, a will is an essential part of your estate plan. Life is unpredictable, and having a will in place gives you peace of mind knowing your loved ones are protected.

We Can Help

Creating a will can be complex. Our experienced estate planning attorneys at Sprouse can guide you through the process, ensuring your wishes are clearly documented and that your loved ones are protected. By having a will in place with a named executor, you can save your family from the added stress and financial burden of a prolonged probate process.