The Importance of Estate Planning
Good morning! I am Robert Newton, attorney and owner of The Law Office of Robert Newton, P.C., which is a law firm located in Frisco, Texas. In this inaugural Newton’s Legal Minute, we are going to discuss what happens to your estate in Texas upon your death. If you have conducted any estate planning, then it is likely that your estate will pass to your beneficiaries in the manner you desired. Basic estate planning tools include a last will and testament, a revocable living trust, transfer on death deeds, and naming beneficiaries on financial documents.
If you die without any estate planning, then the Texas laws of descent and distribution apply. The laws of descent and distribution can be complicated, confusing, and uncertain. Further, they can be quite expensive to execute. For example, a surviving spouse does not always receive the house in which he or she lives under the Texas descent and distribution laws. Further, other unintended beneficiaries can force the sale of property.
Some basic estate planning can help avoid these types of issues. Contact an attorney today to discuss the best estate planning options available for you.
I am Robert Newton with The Law Office of Robert Newton and thank you for watching Newton’s Legal Minute.