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...
Estate planning tips for new parents in Texas
Texas parents feel a lot of excitement and nerves as they prepare to welcome a child into their lives. With all of the excitement comes some important but not-so-fun steps though – including planning for the worst. Some parents consider it bad luck to estate plan...
Understanding estate planning for blended families in Texas
A blended family will bring unique challenges to your estate plans. Given that Texas doesn't have probate laws that dictate how your assets should be handled or distributed if you have stepchildren or remarried, it is in your best interest and that of your family to...
Tips for creating trust funds for grandchildren
If you are a grandparent living in Texas and you want to leave something to your grandchildren in your estate plan, you might want to consider creating trust funds for them. There are a few advantages to doing this, including the ability to specify when distributions...
How a will differs from a trust
If you live in Texas and you are creating an estate plan, you might wonder about the difference in a will and a trust and whether you need both or just one of them. It is important to understand the function of each so that you can make an informed decision. What does...