In this article, you can discover:
- Some special considerations blended families should keep in mind when estate planning in Texas.
- Advice on navigating the high emotions of estate planning for blended families.
- The best practices for long-term estate plan maintenance.
What Specific Challenges Do Blended Families Face Related To Estate Planning In Texas?
Estate planning in Texas for blended families comes with unique challenges and considerations. Due to the state’s community property laws, a legacy of Spanish law, estate planning can be complex. Unlike Louisiana, another community property state, Texas does use joint tenancy with the right of survivorship. Typically, in these systems, the children of the deceased are the legal heirs rather than the surviving spouse, which can complicate things in blended families.
Consider this scenario: a widow is selling her house but needs to split the proceeds with her late husband’s children from a previous marriage. These issues often stem from an unprobated will. In Texas, there is a critical four-year window to probate a will after death. Missing this deadline can lead to various issues, especially in blended families.
How Do The Emotional Dynamics In Blended Families Affect Estate Planning?
The emotional dynamics in blended families can be intricate and often come to the surface when a family member passes away. For instance, a previous client contacted our firm just hours after her husband’s death, distressed that his children from an earlier marriage were taking items from their home. Such situations highlight the need for thoughtful estate planning in blended families to avoid leaving things to the mercy of statutory inheritance laws.
How Frequently Should Individuals Review And Update Their Estate Plans?
You should review and update your estate plan annually, or whenever significant life changes occur. It’s crucial to inform us about any changes, like adjustments in the household, changes in your children’s lives, or digital asset considerations.
Texas law allows executors or trustees to access digital assets, making it an increasingly important part of modern estate planning. There was a case where a widow didn’t know which banks to contact after her husband’s death because he had managed everything online. This example underscores the importance of including digital assets in estate plans.
For more information on Estate Planning For Blended Families In Texas, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (972) 366-7201Â today.
