By Lorie L. Burch, Owner and Founding Attorney of Burch Law
I know, I know, no one wants to think about punching their final ticket, but the reality is that it WILL happen and it COULD happen any day. So why, if you truly care about your loved ones and what you mean to them, would you go one more day without getting this vital planning done? Here are 5 Reasons to get your Will and estate plan done TODAY, not tomorrow, not next year, but TODAY!
- In Texas, your home will not automatically go to your spouse if you pass away. Other states have this (joint tenancy with rights of survivorship), but Texas does not. Boy, do we have to unravel this mess ALL THE TIME.
- If you have stepchildren, they will inherit your spouse’s share of your home and money – NOT YOU!
- Without a Will or estate plan, two friends of yours will have to sign an affidavit affirming that they knew you, knew your marital history, knew all your children, and knew all your assets, property, and debt. I share a lot with my friends, but I don’t share all that!
- It can easily take over 9 months and over $7,000 to sort out who should get your house and financial accounts.
- Because if you don’t have a Will, the state of Texas has one for you!