For Blended Families A Will Can Be A Lifesaver

By
Real Estate Agent with Coldwell Banker United Realtors® ~ 512.750.6899

Will

We have the good fortune of having Hancock & McGill Attorneys At Law (a prominent law firm in Austin) come to our sales meetings periodically to discuss relevant information we can pass onto our clients as they migrate to Austin.  As they have brought to our attention no one likes to plan for death.  And, yet we are all going to die.  50% of marriages end in divorce therefore our society is now made up of a huge number of blended families.  If there is no will, Texas law leaves a spouses' community property to his children, rather than his spouse, if there are any children born outside the marriage!

For the price of a decent pair of shoes a couple can have a will drawn up to protect the new family unit.  Stop and think about this if  you or your husband have children from a previous marriage and relocate to Texas.  Dividing your assets with your mate's children from a previous marriage may not be what you bargained for and can quite literally end your current financial picture as you know it.  Shielding your family by seeking legal council will be the best financial investment you can make!

Eash state has different laws that govern their residents and you need to be aware of applicable laws if you're relocating to Teas.  Making a move to Austin?  Contact me for a smooth transition to our great city.

I provide marketing products and services that ignite action.  From finding new customers to energizing the ones I know and love, my tools can help stimulate the sale of your home.  For more information, please visit our websites www.reloaustin.com and www.canyoncreeknews.com.

                                                We are your Neighborhood Real Estate Consultants

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Tags:
texas
death
will
community property
last will and testament
financial investments

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Rainer
71,882
David Obbee
Obbee.com - Agoura Hills, CA

Dorie: Good estate planning (along with proper life insurance) is definitely something you don't want to put off- Thanks for sharing!

Jun 11, 2010 08:43 AM #1
Rainmaker
137,563
Mary Kay Hopkins
Mary Kay Hopkins, LLC e-PRO, GRI, CRS, CRB - Lake Charles, LA
e-PRO,GRI,CRS

Dorie, this is such excellent advice.  Very wise suggestion to alert those relocating to consult an attorney regarding a will. 

Sounds like a great sales meeting.

Jun 11, 2010 10:45 AM #2
Rainmaker
3,871,908
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

David,

I have seen and heard of some very unfortunate situations because families did not make out willd..in Texas it is crucial you do!escobillo

Jun 11, 2010 01:30 PM #3
Rainmaker
3,871,908
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Mary,

I love our office meetings! Our Broker goes out of her way to make sure we get all kinds of informative information to help us make sure we are going above and beyond to help our clients. Did I say how much I appreciate being kept abreast of so many issues?

Jun 11, 2010 01:33 PM #4
Rainmaker
2,630,834
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Dorie - This is such important advice that you have provided here.  Just these past few days, I have seen where not having the proper estate preparations in place can be disasterous.  It is also important to remember to prepare a living will! 

Jun 11, 2010 02:13 PM #5
Rainmaker
3,871,908
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good afternoon Myrl,

It can be disastrous when protection is not taken to guard your assets. We never think something can happen unexpectedly to us but it can!

 

Jun 12, 2010 10:33 AM #6
Rainmaker
629,417
Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Hi Dorie, This is good information and you're right- a lot people avoid planning which causes many surprises after they're gone. -- After they're gone it's too late to ask them to settle the family squabbles that insue.

Jun 13, 2010 03:10 AM #7
Rainmaker
3,871,908
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Mary,

My neighbor only 26 was left a widow several months ago from a tragic auto accident killing her husband of 2 years. There was no will..it's been hard and just this month she was able to obtain executor status. She couldn't even deposit his last pay checks!

 

Jun 13, 2010 11:37 PM #8
Rainmaker
841,108
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Without a will and without a plan you money will go to the government and the lawyers...

Jun 14, 2010 12:36 AM #9
Rainmaker
3,871,908
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good afternoon Joshua,

You have that right! For the cost of a good pair of shoes you can protect your assets.

Jun 14, 2010 09:00 AM #10
Ambassador
3,683,001
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Dorie, this is such great advice, and so many of us don't follow it. 

Jun 14, 2010 02:50 PM #11
Rainmaker
3,871,908
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good evening Pat,

Unfortunately there are many who just don't make time for protection. It is well worth the effort.

Jun 14, 2010 03:45 PM #12
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Rainmaker
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Dorie Dillard CRS GRI ABR

Serving Buyers & Sellers in NW Austin Real Estate
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