If you have a proper estate plan, your Successor Trustee will follow the plan you have designed. This means distributing your assets to the people you have chosen in the way you have chosen to make distributions.

With an Estate Plan, the Trustee your father has chosen will make the decisions for his estate and the distribution of his assets the way your father has chosen. The Trustee knows what all the assets are, who they go to and nothing is left to the State Department of Unclaimed Properties.

Your Successor Trustee takes over running your estate and taking care of your children financially. You have already determined who you want raising your children and have granted them a guardianship and the financial means to do so.

It will have to go to probate. And, while you may not have a plan, the state of Texas does and it’s probably not what you would want. In addition, your family may overlook assets that you were unaware of which eventually become a part of the 53 billion dollars in unclaimed properties across the U.S.

You will have to retain an attorney and submit the Will to Probate. Aside from probate being very slow and costly, it opens your father’s estate up to creditors.

Having a Will does not avoid probate, in fact it assures it. Your mother’s Will will need to enter probate which is a public proceeding. Opening up her estate to creditors and putting predators on notice that her loved ones are receiving money.

Your babysitter was probably only provided your contact information and maybe a neighbor’s. The babysitter, who has no legal authority, probably will start to get worried and call the police. When the police arrive, your children end up in Child Protective Services until the authorities can find next of kin.

Your children are placed in CPS while they look for next of kin. Potentially, a sister who you would not want raising your children, is found. She appears in court and the judge grants her a guardianship for your surviving children.

Your children are entitled to your assets free and clear the day they turn 18. Sometimes that means an 18 year old child receiving a check for several thousands of dollars with no protection.