In Texas, serving as an executor often begins during a time of grief and uncertainty. Once probate starts, the executor must protect assets, carry out the will and report to the court. As a fiduciary, the executor must act in the estate’s best interests. The first 30...
In the wake of grief after a friend or loved one passes away, some people may be startled to learn that they were either named by the decedent or the Texas probate courts as personal representative of the estate. What happens then? Make no mistake, this is a major...
It is a common misconception that if you are single and do not possess huge assets, you do not really need a will. Many believe their property will automatically and easily pass to their parents, siblings or loved ones. However, if you pass away without a will in...
Choosing to disinherit a family member is rarely an easy decision. While estate planning allows you to decide who inherits your property, removing a close relative from your will can have lasting emotional and legal consequences for everyone involved. Before making...
A fiduciary relationship is built on trust and carries a high standard of responsibility. It exists when one person accepts a legal and ethical duty to act in another person’s best interests, placing those interests above their own in all relevant decisions. Because...
Disinheriting someone can get a bit tricky. If a parent decides to cut one of their children out of the will, for example, they may simply leave that child out. They do not mention them at all and instead split their assets between other beneficiaries. But this can...
Personal representatives must give up their time to oversee estate administration. Their careers and families may not receive the attention they usually do when there are pressing asset management or court matters to address. Estate administration can reduce income...
Serving as an executor can feel overwhelming, especially when you are already coping with the loss of a loved one. Along with carrying out the instructions in a will, you may need to manage property, handle payments and communicate with several parties throughout...
Adults should have an estate plan in place to ensure their wishes are known and legally enforceable. Creating this plan is straightforward for many adults; however, that’s not necessarily the case for those who have a blended family. One of the challenges that comes...
Keeping beneficiaries adequately informed is one of your duties as an estate’s executor. It ensures you maintain transparency. Failing to effectively communicate with beneficiaries can get you into trouble. They may petition to remove you, as they may believe you are...