As with the famous and diets, myths abound in estate planning and probate too.  We’ve compiled our TOP TWELVE LIST that we are sharing in five installments.

Myth #8:  If I have a will, my estate avoids probate.  A will does not avoid probate in Texas—it actually guides the probate process. Probate is still required to validate the will and distribute assets.

Myth #9:  Once I create an estate plan, I’m done forever.  Plans should be updated after major life changes like marriage or divorce, birth of children or grandchildren, buying property, or changes in financial situation.  We draft our plans to be durable for many future events, but life throws us all changes.

Myth #10: Estate planning is only about what happens after I die.  A complete plan also covers incapacity, including: medical powers of attorney, financial powers of attorney, and advance directives.  Waiting until near death to begin estate planning isn’t ever a good idea.

Myth #11: Online templates are good enough for estate planning.  The truth is that Texas estate law has unique nuances—especially regarding property ownership and probate procedures.  Generic online forms often fail to address these complexities, which can lead to confusion, delays, or even litigation for your family.  The biggest problem with any do-it-yourself planning is that the user does not know what they do not know.

Final Thoughts

Estate planning and probate should not be overwhelming—but they do require accurate information and thoughtful planning.

Taking the time to understand the facts can help you:

  • Protect your family
  • Avoid unnecessary complications
  • Ensure your wishes are honored

Have Questions About Your Estate Plan?

Every family’s situation is different. If you’re unsure where to start—or want to make sure your current plan is on the right track—speaking with an experienced attorney at Pyke Balen & Moncure, P.C. can make all the difference.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, specific tax, legal or accounting advice. We can only give specific advice upon consulting directly with you and reviewing your exact situation.