Leach Fox Law›
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FAQs
Do I need a will?
Generally, everyone should have a Will. The purpose of a Will is to accomplish two primary objectives. The first, to make sure that your assets pass to the proper persons. The second, to make sure that it happens with as little time, trouble and expense as possible.
How long does it take to probate an estate?
The length of a probate depends on many factors including the complexity of the estate, tax issues and whether proper estate planning was done. In some cases probate can be completed in as little as 30 days. A probate without a properly drawn Will is a much longer and more involved process.
Since Texas is a community property state, do my assets automatically pass to my spouse?
In Texas, community property assets do not automatically pass to a surviving spouse. If a person dies without a Will, then in some cases community property will pass to a spouse, but in other cases community property will pass to the children of the deceased. This can be a complicated issue and can be avoided through the use of a properly drawn Will.
What assets are included in my estate for estate tax purposes?
For purposes of the federal estate tax, all assets of every type are generally included in your estate including real estate, life insurance, personal items, investments, retirement plans and the like.
How often should I update my will?
You should update your Will whenever this is a significant change in your assets or family situation. You should also review your Will with an estate planning attorney every 3 to 5 years to make sure that there are no changes in federal or state law that may impact your estate.
More answers can be found on the FAQ page of our website.
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