Issue link: http://viewer.e-digitaledition.com/i/903487
ESTATE PL ANNING IS TELLING THE COURTS WHAT TO DO WITH YOUR STUFF IN CA SE YOU DIE. WHEN IT COMES TO ESTATE PL ANNING, E VERYBODY NEEDS SOME THING. FIGURING OUT WHAT THAT "SOME THING" IS CAN BE DIFFICULT. 1 0L E G A L Heather Tessmer It's Not for the Faint-hearted BY HEATHER TESSMER FROM THE STUDENT starting medical school to the expert in his field, each person needs an estate plan that is tailored to his or her needs at that particular time. Estate planning needs to be revisited often and updated to fit the changing needs of the particular person. You have probably heard that if you don't have a will, the state of Texas will decide what happens to your property. This is true. It has already been decided by the Texas legislature and set in stone in the Texas Estates Code. The Estates Code describes what will happen to both separate and community property. When you are married, all property is presumed to be community property unless you can prove that you had the property prior to marriage, acquired the property by gift or inheritance, or sometimes, by a settlement in a personal injury lawsuit. With that in mind, here are the di•erent scenarios, sometimes very complex, that can take place when you pass: Estate Planning — 1. If you are married with children: a. Separate personal property: i. 1/3 to your spouse; and ii. 2/3 divided equally among your children. b. Separate real property: i. Children take all equally; but ii. Subject to a 1/3 life estate of the spouse. c. If you are still married to the other parent of all of your children, then all of your community property goes to your spouse. d. If you are mar - ried to someone not the parent of all of your children, then all of your children will take your share of the com - munity property. 2. If you are married with no children: a. Separate personal property will go to your surviving spouse. b. Separate real property: i. If both your parents are alive: • each will take 1/4; and • Your spouse will take 1/2. ii. If only one of your parents is alive, but you have siblings: • Your parent will take 1/4 • Your spouse will take 1/2, and • Your siblings will equally share 1/4. iii. If only one of your parents is alive and you have no siblings: • Your parent will take 1/2, and • Your spouse will take 1/2. iv. If you have no living parents, but you have siblings: • Your siblings will take 1/2, and • Your spouse will take 1/2. v. If you have no living parents and no living siblings, then your spouse will take all. c. Your spouse will take all of your commu - nity property. 1 0