April is National Financial Literacy Month. This year, go beyond budgeting — a will and estate plan are the most powerful financial tools any Texas adult can put in place.
Why April? The Origins of Financial Literacy Month
Every April since 2004, the United States has officially recognized National Financial Literacy Month — a designation created by Congress to encourage Americans to take stock of their financial health, build better money habits, and plan for the future. Banks, nonprofits, schools, and financial advisors use the month to promote everything from budgeting basics to retirement planning.
And while those conversations are valuable, they often stop short of the most consequential financial step any adult can take: deciding what happens to everything you’ve worked for after you’re gone — and making sure that decision is documented, legal, and binding.
This April, financial literacy means more than knowing your credit score. It means having a plan.
Your Will Is a Financial Document
Most people think of a will as an emotional document — something you write when you’re old, or sick, or facing the end of life. But a will is, at its core, a financial document. It is the legal instrument that controls the transfer of your wealth — your home, your savings, your car, your business, your investments, your retirement accounts, your personal property — from your hands to the people or causes you choose.
Without it, you have no say in that transfer. The state decides. And the state’s default rules, as we explained in our previous post on wills, are often not what you would have chosen.
Think about every financial decision you’ve made in your adult life — the jobs you took, the accounts you opened, the property you bought, the savings you built. A will is what makes all of those decisions mean something after you’re gone. Without one, the financial legacy you spent a lifetime building can end up distributed in ways that don’t reflect your wishes, your relationships, or your values.
The Financial Cost of Not Having a Will
Estate planning is often framed as something you do for your loved ones. That is true. But it is also something you do to protect the financial assets you’ve accumulated — because dying without a will is not just an emotional hardship for your family. It is a financial one.
When someone dies without a will in Texas, the estate typically goes through a court-supervised process to determine how assets are distributed. This process takes time — often months, sometimes longer. During that time, assets can be frozen, bills can go unpaid, and family members may be left without access to funds they depend on.
Attorney fees, court costs, and administrative expenses in an intestate estate are typically higher than in an estate with a properly drafted will. A simple, well-executed will with independent administration — available under Texas law — can dramatically reduce the time and cost of settling an estate.
There is also the hidden financial cost of family conflict. Disputes over who gets what, who was promised what, and what the deceased “would have wanted” are among the most expensive and emotionally damaging legal fights that families face. A clear, legally binding will eliminates most of those disputes before they start.
Financial Literacy for Every Stage of Life
One of the most persistent myths about estate planning is that it is only relevant to people who are older or wealthy. Financial Literacy Month is a good time to challenge that assumption directly.
In your 20s and 30s, you may not have significant assets — but you may have student loans, a car, a small savings account, and most importantly, the beginning of an adult financial life. If something happened to you, who would handle your affairs? Who would have access to your accounts? Who would make medical decisions on your behalf? A basic estate plan — a will, a power of attorney, and a medical directive — answers all of these questions for a relatively small investment of time and money.
In your 40s and 50s, you are likely building real wealth — a home, retirement savings, investments, possibly a business. This is when the stakes of not having a plan become highest, and when the complexity of your financial life most requires professional guidance.
In your 60s and beyond, estate planning is not just about what you leave behind — it is about making sure you are protected during your lifetime if health issues arise, that your wishes about medical care are known, and that the wealth you’ve spent decades building is transferred efficiently and according to your intentions.
There is no wrong time to start. But there is a cost to waiting.
Estate Planning and Immigrant Families: A Special Consideration
For immigrant families in Texas, financial literacy and estate planning carry an extra layer of complexity that generic financial advice rarely addresses.
Property in another country. Bank accounts abroad. Family members who are not US citizens or residents. Questions about what happens to assets if a family member is deported or loses immigration status. Children who are US citizens but whose parents are not. These are real financial planning questions that require real legal answers — and they are questions that a standard estate planning template or online will service is not equipped to handle.
At Powers Law Group, we work with immigrant families across Texas who need estate planning that accounts for the full picture of their lives — not just the portion that fits neatly into a standard form. We understand that for many of our clients, the question of what happens to their family’s financial security is inseparable from their immigration situation, and we bring both areas of expertise to every conversation.
What to Do This April
Financial Literacy Month is the perfect time to take action on something you may have been postponing. Here is a simple checklist to get started:
Take an inventory of what you own. Your home, vehicles, bank accounts, retirement accounts, investments, life insurance policies, and personal property of value. This is the foundation of any estate plan.
Think about who you trust. Who would you want to raise your children if you could not? Who would you trust to manage your finances if you were incapacitated? Who should receive what you’ve built? These decisions are yours to make — but only if you document them.
Consider the full picture. If you have family abroad, property in another country, or immigration considerations that affect your family’s situation, make sure you work with an attorney who understands those dimensions.
Schedule a consultation. The most important step is the first one. A conversation with an attorney does not commit you to anything — it gives you the information you need to make informed decisions.
Powers Law Group Is Here to Help
This April, Powers Law Group is inviting individuals and families across Texas to take the most important financial literacy step they can: creating or updating their estate plan.
Whether you are starting from scratch, updating a will you made years ago, or navigating the added complexity of an immigrant family’s financial situation, our team is here to make the process clear, accessible, and complete.
A will is not a luxury. It is not something to put off until later. It is the foundation of financial security for everyone you love. Contact Powers Law Group today to schedule your consultation — and make this the April you finally get it done.
Sources
- Jump$tart Coalition, National Financial Literacy Month — History and Resources, 2025. https://www.jumpstart.org
- National Financial Educators Council, Financial Literacy Month 2025, 2025. https://www.financialeducatorscouncil.org
- Texas Estates Code, Chapter 201 — Intestate Succession. https://statutes.capitol.texas.gov
- State Bar of Texas, Your Will: Why You Need One and How to Get It, 2024. https://www.texasbar.com
- Consumer Financial Protection Bureau, Planning for Your Financial Future, 2025. https://www.consumerfinance.gov
- Caring.com, 2025 Wills and Estate Planning Study, 2025. https://www.caring.com
- American Bar Association, Estate Planning FAQs, 2024. https://www.americanbar.org
- Texas Young Lawyers Association, A Will for You, 2024. https://www.tyla.org
- American Immigration Council, Estate Planning Considerations for Immigrant Families, 2024. https://www.americanimmigrationcouncil.org
- Nolo, Why a Will Is the Most Important Financial Document You Can Have, 2025. https://www.nolo.com
