At a basic level, estate planning is the process of managing and disposing a person’s assets in the event the person becomes incapacitated or dies. However, the estate planning process also can be used to preserve your family’s legacy and wealth.
Estate planning typically involves a will, living trust, power of attorney, or other estate planning documents that will protect your loved ones and make the probate process easier for them.
What is the difference between a will and estate planning?
A will is one part of the estate planning process. A will tells those you leave behind what you want to happen to your assets after you die. A will is a singular legal document, while estate planning involves multiple legal documents.
Can I probate an estate without a will in Texas?
Yes. Texas has default inheritance rules for when a person dies “intestate” or without a will. If the decedent were married, the assets would be transferred to their spouse.