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The personal representative of someone's estate has a lot of responsibility. They will have to attend probate proceedings and take care of all of the assets in the estate. They also have a responsibility to repay the debts a testator left behind when they died. ...
Many people prefer not to talk with their children about their estate plans. Maybe they have always preferred to keep their financial details private from their kids. Or perhaps they prefer to avoid conversations that could become difficult. Yet generally, it makes...
Estate planning is often the last thing on anybody’s mind. By definition, an ‘unexpected event’ is not on a person’s mind either, but they do happen. People succumb to tragic accidents all the time. While it is extremely unlikely that something will happen to you,...
When making your estate plan, settling on an executor is among the most important decisions you may have to make. This is the person responsible for administering your estate per your wishes. Your executor is charged with paying off any outstanding debts, closing...
It might be wise to bring your family into your estate planning sessions in Texas. Whether with legal representation or not, your beneficiaries can often benefit when pre-briefed regarding inheritances. Being transparent with your heirs and beneficiaries gives you a...
Your heirs and beneficiaries are going to get your assets. Your estate plan dictates how this is done and what money and other assets go to specific individuals. But what about your debts? Do these also get passed on to the next generation? Could an adult child be...
It is incredibly easy to procrastinate about the creation of an estate plan. After all, if you are still healthy and relatively young, you have hundreds of tomorrows in which to think about your own death. Why should you have to do it today? The simplest answer is...
Probate disputes can be a massive issue for families. They often involve siblings, which is problematic on many levels. Not only do they disagree on what to do with the assets, but they may retain feelings of frustration and animosity even after things are sorted out....
People think of the executor of an estate as the person who has to locate and sell assets, possibly in an estate sale. They also have to distribute proceeds from that sale and remaining property among the beneficiaries of the estate. However, before an executor can...
Divorce comes with significant implications not only for your future but also for the future of your assets and dependents. As such, it is critical that you review and revise your estate plan as soon as you decide to dissolve your marriage. Here are four updates you...
