Care in listing beneficiaries will ease distributions of an estate
Q: My brother just passed away, leaving four children. I have two other living siblings. If I die without a will, would my property pass to my brother and sister, or would my late brother’s children have any legal rights to receive some of my estate? I own real estate in Harris and San Jacinto counties, and I have about half a million of cash, certificates of deposit, and an individual retirement account.
A: If any of the properties you own are set up to pass directly to a person or several persons upon your death, then that’s who will inherit that particular property. For instance, you may have designated one or more beneficiaries to receive your IRA.
If you own assets that don’t have a beneficiary named, that’s when Texas law dictates who inherits the property.
You didn’t mention whether your parents are alive. If both of them are alive, then they each inherit half of your estate. If only one parent is alive, then that parent inherits half, and the other half of your estate is split three ways, with each living sibling getting one-sixth, and each child of your deceased brother getting one-twenty-fourth. If neither parent is alive, then each living sibling gets one-third, and each child of your deceased brother gets one-twelfth.
If you don’t like how your estate will be distributed by the Texas statutes, or if you want to simplify the probate of your estate, then you should hire an attorney and have a will prepared.
Q: I had my will prepared by a lawyer a few years ago. I want to change a provision in order to give one of my houses to my daughters. I called the lawyer who prepared my will. He said even changing just a few lines will cost $300. That is too much money. Is it OK if I retype the second page and replace the existing second page with the new page? Or should I go to another lawyer who can do this for less money?
A: You definitely should not
retype the second page of your will and swap it out with the existing page. Any change to a will must be in writing, signed and preferably witnessed and notarized properly according to Texas law.
When pages are swapped out, it is easy to prove in a lawsuit following your death that the new page was not part of the original document.
The $300 fee you were quoted is actually very reasonable. You will have a very hard time finding another lawyer who is willing to make the change for less money. In fact, most attorneys would charge you far more than $300 to make the change you are requesting.
The information in this column is intended to provide a general understanding of the law, not legal advice. Readers with legal problems, including those whose questions are addressed here, should consult attorneys for advice on their particular circumstances. Ronald Lipman of the Houston law firm Lipman & Associates is board-certified in estate planning and probate law by the Texas Board of Legal Specialization. Email questions to stateyourcase @lipmanpc.com.