There are many different options you can take in Texas to plan what will happen with your assets when you die. Your estate planning efforts may include something called a living trust, which Forbes explains is just any trust you create when you are alive. This is the opposite of the type of trust created when you have a will. Upon your death, a will sends your assets into a trust that your executor then handles.
Some people may think that because they don't have many assets, they may as well forgo the process of writing a will. However, if you have any assets that are not covered in a will, it becomes the job of the Texas probate court to distribute those according to the intestate succession laws. These override any wishes you have unless you have an official estate plan.
Talk about probate is very common when discussing wills or after someone passes away in Texas. This process is not as understood as it should be, though. You may not truly understand what it means, which could lead to confusion down the road. Understanding this term can help you to better plan your own estate and handles the estates when loved ones die.
Perhaps you are leery of having your Texas estate go through probate after your death. At Doehring & Doehring Attorneys at Law, we understand the nuances of probate, and often advise our clients of their options for minimizing the time and expense of this process.