If I were to pass away without a Will, how would my assets and liquidated assets be distributed if i had three children and a wife?

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If I were to pass away without a Will, how would my assets and liquidated assets be distributed if i had three children and a wife?

Asked on November 6, 2013 under Estate Planning, Florida

Answers:

Brook Miscoski / Hurr Law Office PC

Answered 8 years ago | Contributor

In Texas, benefits to stated beneficiaries would pass to those individuals.

Because Texas is a community property state, generally speaking the home will not be liquidated because your wife will at least have a life estate.

Additionally, if the children are of you and your wife, the community estate (accumulated during the marriage) simply goes to your wife.

If at least one child is not of your wife, half the community estate goes to your children (but this does not mean that the home would be liquidated).

Your separate property would go 1/3 to your wife, the rest to your children.

The answer will differ by state, but I believe that having a will is a good idea. In Texas, you can't will away the wife's interests or lifetime use rights, but you can define how your interest is distributed. 


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