The Risks of Not Having an Estate Plan~2 min read

Without an estate plan, your assets may not go where you want, and the outcome may not reflect your true wishes. When you die, a clear plan helps protect your family and everything you leave behind.

You Lose the Chance to Decide

When there is no estate plan in place, Texas law determines how your estate is divided. You do not get to choose who receives what or when. If you have a partner you are not legally married to or close friends you want to provide for, they may receive nothing. An estate plan gives you the power to decide who benefits from your life’s work.

Probate Can Be Complicated and Costly

Without a will or trust, your estate will likely go through probate. This process often brings legal fees, court appearances, and long wait times. Your family may not be able to access funds they need right away, and the costs of probate can reduce the amount they ultimately receive.

Family Members May Disagree

Lack of planning often leads to confusion and arguments among surviving relatives. One person might believe you promised them a certain item or asset, while another remembers it differently. These disagreements can turn into legal disputes and may damage relationships for years to come.

Children May Be Placed with Someone You Would Not Choose

If you have children under 18, the court must appoint a guardian if you pass away without naming one. This decision may not reflect your values or your wishes. Planning ahead allows you to choose someone you trust to raise your children with the care and guidance you want for them.

It Is Never Too Early to Plan

Estate planning is not just for the wealthy or the elderly. It is about protecting the people you care about and making your wishes known.

If you are ready to create a plan that reflects your values and protects your loved ones, the team at Springer and Lyle is here to help. We take the time to listen and guide you through each step. Contact Daniel Abasolo today at 940-387-0404 to schedule a consultation.

Springer & Lyle is located at 1807 Westminster, Denton, TX 76205.