HOPING FOR THE BEST IS NOT A PLAN

I hear this over and over again: “When I die, everything I own automatically passes to my spouse and children so why do I need a Will?” 

The purpose of this article is to answer that very question. Before I can help you understand the answer to this question, there are a couple of things you need to know:

DYING INTESTATE
When you die without a Will, you are said to have died intestate. If that happens, the State of Texas has a plan made FOR you.

TYPES OF PROPERTY
There are basically two types of property in Texas: separate property and community property.

• Separate Property (SP) includes the property you owned prior to marriage or that you inherited or received as a gift during your marriage. Separate property can be personal property or real property (real estate)
• Community Property (CP)includes any property (real and personal) acquired during marriage (other than by inheritance or gift). 

Click here for more information in a downloadable/printable PDF.

PDF GUIDE