Choosing an attorney-in-fact
Appointing someone as an agent under a power of attorney gives that person tremendous responsibilities and authority under Texas law. One power of attorney document could list someone in charge of financial decisions, and another POA document could establish someone...
Early discussions about estate planning could save emotional grief later
When someone dies, tensions often run high. Never underestimate the importance of the emotional component of splitting up assets in your will. Sibling rivalry can run high, and splitting up assets with blended families can be even more difficult. Planning early and...
How can you talk to your Texas parents about estate planning?
It's never easy to talk about estate planning with your parents. However, having this conversation can bring peace of mind to everyone in your family. It may also prevent future conflict between family members. Get a suitable location and time Usually, the best place...
How does incapacity planning protect you in Texas?
If you were to become incapacitated and no longer able to care for yourself or your property, who would be in control of your healthcare decisions or your property? If incapacity planning is not included in your estate plan, you will give the power to make those...
How do you update your estate planning after a divorce?
Many people only want to complete estate planning once, but if you divorce your spouse, you might need to update your wills and trusts. Updating your estate planning ensures that your hard-earned assets go where you want them to after your death. Make sure your estate...
What is the role of an estate administrator?
After someone has died their financial matters need to be settled. The person in charge of doing this is either an administrator or an executor of the will. The two titles apply to the same tasks and responsibilities for a probate proceeding in Texas. The difference...
What makes a good executor?
An executor serves as the decedent's personal representative during probate. A testator names an executor when writing a will, and as long as the will is valid under Texas law, the named person may serve as a legitimate representative once approved by the court. In...
Mistakes to avoid when making beneficiary designations
Beneficiary designations may make it easier to transfer bank accounts, retirement accounts and other assets without the need for probate. This is because ownership of such items automatically transfers to the beneficiary without the need to seek a Texas probate...
What are the biggest considerations when choosing a trustee?
One of the most important things Texans can do is plan for the future. If you establish a trust to hold assets for your future heirs as part of your estate plan, there are certain things to consider when choosing a trustee to oversee it. They have the time to manage...
When is it necessary to probate a will in Texas?
Many Texas residents will set up their estate plan in a way to avoid probate as much as possible. The probate process can be tedious and intimidating at the best of times, especially after the death of a loved one. Unfortunately, certain circumstances can make...
