Believe it or not, over half of those who are between the ages of 55 and 64 do not have a will in place. A will is vital to include in an estate since it gives instructions on how to distribute assets. Without a will, the state of Texas may make the decision on distribution.
Approximately 64 percent of the overall population has not created a will. Grantors who die without leaving a will are called dying intestate. This means that the state has the right to regulate which family members will receive the assets. When going this route, there is no guarantee that assets will be distributed to intended individuals, including children and surviving spouses. With this in mind, why would people not want to have a will in place?