The Rich and Famous Are Just Like Us…When it Comes to Dying

What do superstars Aretha Franklin, Prince, Sonny Bono, Amy Winehouse, and most recently Chadwick Bozeman have in common?  They all died without a will. Amazingly, these wealthy celebrities who seemingly had access to unlimited financial resources and advisors didn’t have a will specifying who their property was to go to upon their deaths. Likely, they had families, friends, loyal staff, foundations, and charities that they would like to have left resources to, however, their lack of foresight has resulted in a situation that will take a great deal of time, effort, and money, as well as legal expertise, to sort out.

Most of us will die without leaving such a financial legacy, but we do want to protect our assets and make certain that those who we wish to inherit our estates and property are named and protected.

If You Die Without A Will If you die without a will in the State of Texas, you are said to have died intestate. When someone dies intestate, Texas law clearly outlines how the estate will be distributed in the Texas Probate Code. The State will not step in and seize all property of those dying without a will — the law however will draw a distinction between separate property and community property which you may not have done had you specified the distribution of your property in a legal will.

How Will My Assets be Distributed? Instances such as second marriages, children by different spouses, surviving spouses, dying without having children or a spouse, etc. are all addressed by Texas law if someone dies without a will. And, while Texas law establishes a way to determine heirs, dying intestate and the division of property may not be in accordance with what you had envisioned while you were living. Additionally, dying without a will can be emotionally draining upon family members at an already stressful time.

Ensuring Property DistributionTo ensure that your estate is divided as you desire, and to avoid costly legal expenses, you should seek the advice of a legal professional and make sure you have a valid and up-to-date Texas will clearly outlining division of your property upon your death.

Contact Angela Odensky (angela@odenskylaw.com) to guide youthrough the process and create a legal will in Texas that specifies exactly|where your property will go and that honors your wishes.