The decision whether to have some or all of your estate pass by living revocable trusts under Texas law is one that should be made in consultation with an estate attorney or other qualified professional. Remember that each situation must be evaluated on its own facts. If avoiding probate is a goal that will benefit you and preserve your assets the best, then a revocable living trust should be included in the estate plan.
In Texas and elsewhere, single and childless individuals may have considerable wealth yet be perplexed how to distribute it during and after death. There are 17 million unmarried Americans over age 65. Additionally, young people who amass relatively high wealth prior to marriage or having children are more prominent than before. This puts a lot of people in the same category: they need to have an estate plan so that the state does not administer and take their assets arbitrarily after their death. An orderly estate administration should be set in place for one’s appointed executor to distribute assets according to the decedent’s wishes.
No two families are alike, which is why it’s a good thing that there are so many customizable options available when it comes to estate planning.