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Even if one has no children, a will is good to have

Texas residents who have worked hard throughout their lives and built up their assets may not know what to do with them in the event of their deaths if they do not have children. As many people forgo having children as a personal choice or simply lack the chance to have kids, this is a problem that plagues quite a few individuals. The truth is, though, even if one does not have children or other family to whom one wishes to pass on his or her estate, a will is still a good thing to have.

What happens to one's estate if a will or other estate planning documents have not been prepared? This is called dying intestate. In such cases, a probate judge will get to decide what happens to one's estate. Not really an ideal situation, though it happens quite a bit, approximately 64 percent of Americans lack any sort of estate plan.

So, if one has no children or other family members to whom they wish to pass on their assets, where should the items go after one dies? That is a very personal choice, but many people choose to gift their assets to causes close to their hearts. This is a way to use their hard earned assets for good.

Choosing not to have a will or any other written instructions for where one's assets are to go after one dies pretty much guarantees that one's estate will not be distributed as one would prefer. Children are not a prerequisite for having an estate plan. This is something that is good for all adults in Texas and elsewhere to have. An experienced attorney can assist those who need help drafting wills or other estate planning documents so that their assets are protected and go to whom they are intended when the time comes.

Source: CNBC, "Planning your estate when you've got no children or heirs", Sarah O'Brien, May 31, 2017

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