Estate planning attorney, Scott Zucker, wrote a great article several weeks ago explaining the importance of estate planning.
He reminded readers that how you dispose of your property at death is so important 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 the Texas intestacy statutes, click on the link.
As Scott points out in his post, 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.
You can read “Why Should Estate Planning Be a Priority For Me?” by clicking on the link.