Avoiding Trouble After a Second Marriage

Mar 01, 2024

If you don't have a plan, the government has one for you

Some of you, me included, have been married more than once. Some of you, me included, have children from each of those relationships. And although we have been in communication over the years through this newsletter and other instances, some of you still don’t have a Will. 

 

If this describes you, guess what?! The Texas Legislature has prepared your estate plan for you, and it probably is not what you want, and guess what? The state's plan will most likely lead to litigation and fighting among your spouse and children.

 

To help you better understand how this works, I will use the following example throughout. Able is our decedent. He was married to Betty and they had 2 children, Charles and Daisy.  Adam and Betty divorced. Adam then marries Esther and they have one child, Frank. Adam dies without a Will.

           

Section 201.002 of the Texas Estates Code, directs where Adam's separate property will go, and it will be distributed as follows: 1/3 of the personal property and a life estate in the Adam's land goes to Esther, his surviving spouse, 2/3 of the personal property and the remainder of the land goes to Adam's children, Charles, Daisy and Frank.

 

Section 201.003 of the Texas Estates Code, also directs where the community property of Adam and Esther will go: Esther will keep her ½ of the community estate and Adam's children, Charles, Daisy and Frank will share Adam’s ½ of the community estate.

 

As you can see, there will be quite an issue between Esther and Charles and Daisy, when it comes to the house. Esther will get to stay there, in addition, Charles, Daisy and Frank will need to wait for Esther to pass away to get access to their share of the real estate. Likewise, the furniture, vehicles, etc., would need to be divided 1/3 and 2/3. These divisions can create a lot of interfamily tension.

 

There is a solution, an alternative to the Legislative estate plan. By drafting a Will, your decision, your plan is what will control. Why not have your plan control the way your assets will pass? There are many different combinations of how assets can be distributed. It is important to meet with a board-certified estate planning attorney to see how to best distribute your estate.

 

In summary, you deserve to choose how your estate is distributed, not the state. As you can see, not making a choice still is a choice (though not a good one). If you are interested in preparing your will, or reviewing your current will, simply reply to this email and my team will coordinate a time and day that works best for you to visit with us and make sure you really get what you want and not leave it to the government.

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