Top Six Mistakes To Avoid When Planning Your Estate In Austin, Texas

Planning your estate is one of the most important ways to protect your family and ensure your wishes are carried out. However, common mistakes can lead to unnecessary legal battles, financial strain, and stress for your loved ones.

By being aware of these pitfalls, you can take proactive steps to avoid them and create a solid plan that gives you and your family peace of mind. This guide will walk you through the top six mistakes to avoid when planning your estate in Austin, Texas, helping you secure your assets and protect your family’s future.

Key Takeaways

• Failing to create a will can leave your estate vulnerable to state intestacy laws, leading to lengthy and costly legal proceedings for your loved ones.
• Major life changes like divorce, a new child, or a family death require timely updates to your estate plan to reflect your current wishes and avoid unintended consequences.
• Naming a guardian for your minor children and including powers of attorney and healthcare directives are crucial steps to ensure your preferences are followed and to avoid unnecessary court involvement.

1. Failing To Create A Will

Failing to create a will in Texas can lead to significant complications, heartache, and financial burdens for your loved ones. Without a will, the court must follow state intestacy laws to determine who the heirs are, which can be a lengthy and costly process. For example, suppose a person dies without a will and their familial situation is unclear, such as not knowing their father. In that case, the court may spend years determining who the rightful heirs are, costing the family time and money.

A will provides clear instructions on how your assets should be distributed and can prevent these legal battles. Anyone over the age of 18 should have a will, even a simple one, to ensure their loved ones can manage the estate and pursue necessary claims, such as wrongful death, without unnecessary legal obstacles.

2. Forgetting To Update Your Estate Plan After A Major Life Change

Updating an estate plan after a major life change is vital because these events can significantly affect how your assets are distributed. Major changes like the birth of a child, the death of a family member, or divorce can alter your intentions and the legal framework of your estate.

While some laws provide default rules for situations like divorce, they may not align with what you actually want to happen. Updating your estate plan is a sure way for your assets to be distributed according to your specific desires rather than relying on legal presumptions. This goes far to avoid unintended consequences.

3. Never Naming A Guardian For Your Minor Children

If you don’t name a guardian for your minor children in Texas, the court will ultimately decide who becomes their guardian based on what it deems to be in their best interest. While you can name a preferred guardian in your will, the court still has the authority to overrule that decision.

Regardless, naming a guardian is important because it allows you to express your wishes, especially if you believe someone would be a poor choice or if you want the court to consider someone who might not ordinarily be considered. Taking the initiative to name a guardian also serves to provide the court with guidance, which can heavily influence its decision.

Richard Cahan, a seasoned estate planning attorney in Texas, has extensive experience helping individuals just like you navigate the complexities of wills, guardianships, and powers of attorney. With a deep understanding of Texas probate law, Richard has successfully guided clients through situations where failing to create or update a will caused unnecessary legal complications. His hands-on approach ensures that clients’ wishes are respected, assets are properly distributed, and families are spared from stressful legal battles.

Let Richard Cahan help you protect your loved ones and secure your estate today. Contact him today to learn more.

4. Never Creating A Power Of Attorney

Not including a power of attorney in your estate plan can create significant difficulties if you become temporarily incapacitated or are unable to manage important matters. Without a power of attorney, you cannot handle tasks that require your authorization, such as making financial decisions or filing legal documents. This can potentially lead to delays or missed opportunities.

In such cases, your loved ones may have to seek guardianship through the court, a process that can take months. During this period, important matters may be left unresolved. A power of attorney allows someone you trust to step in and manage your affairs quickly and efficiently, avoiding lengthy court proceedings.

5. Putting Off Healthcare Directives

Not addressing healthcare directives in Texas can leave critical medical decisions in the hands of state laws or others who may not know or understand your personal wishes. Without a healthcare directive, something like a living will or medical power of attorney, decisions about your medical care—such as life support or treatment in a vegetative state—will be made based on what Texas law presumes most people would want, not necessarily what you want.

These presumptions may not align with your specific preferences. A healthcare directive ensures that your wishes are clearly documented, giving you control over important medical decisions and preventing the state or others from guessing how you’d like your care to be handled in potentially life-altering situations.

6. Never Communicating Your Estate Plan To Your Family

Failing to communicate your estate plan to your family can lead to disputes, especially if your plan deviates from what family members expect. If you’re leaving unequal distributions to children or making decisions that aren’t considered “normal,” it’s best to inform your family in advance. This allows them to process the decisions outside of the emotionally charged period after your passing, potentially preventing unnecessary conflicts.

Additionally, communicating your wishes can provide witnesses who can confirm that your estate plan reflects your intentions. This reduces the risk of someone challenging the validity of the plan by claiming it’s not what you truly wanted. Clear communication can go far in preventing misunderstandings and protecting your estate plan from disputes.

Still Have Questions? Ready To Get Started?

For more information on Planning Your Estate In Texas, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (512) 829-6100 today.