Many people think that it makes sense to wait to make an estate plan. In fact, since most people don’t have an estate plan, researchers have asked them for the reasons why. Planning to do it at a later date is one of the top reasons they give. Usually, people assume...
Fiduciary conflicts of interest can complicate relationships between fiduciaries and beneficiaries. A fiduciary is entrusted with managing another person's assets, and their duty is to act in the best interests of the beneficiary. When a fiduciary’s interests...
Do you remember the last time you drafted your estate plan? If you are struggling to recall the last date you updated your estate plan, then this may be the year to make some changes. It is often suggested that an estate plan is updated at least every five years....
Disagreements among heirs can delay estate administration and create lasting family rifts. Whether it's about dividing assets, selling property, or interpreting a will, conflicts can make probate more complicated. Understanding the common causes of disputes and how...
Probate litigation can delay estate distribution and create financial and emotional stress for beneficiaries. Disputes over a will, executor actions, or asset distribution can lead to lengthy court battles. Understanding how probate litigation affects estate...
A fiduciary is someone who manages money or property for another person. The duty of loyalty means they must \act in the best interest of the person they represent. This rule applies to trustees, financial advisors, and others who handle assets. If a fiduciary puts...
There are many reasons why you may need to draft, review or update your estate plan. One common reason is if you have a child. While even single individuals can still benefit from estate plans, the birth of a child is often a triggering event that causes people to...
A pour-over will ensures that any assets left outside of a trust at the time of your passing transfer into the trust. This legal tool works alongside a revocable living trust to provide a streamlined estate planning process. In Texas, pour-over wills offer several...
Probate can be time-consuming, but not all assets go through this legal process. In Texas, certain assets pass directly to beneficiaries without court involvement. Understanding which assets bypass probate can help you streamline estate planning. Jointly owned...
When a loved one passes away, their estate often includes outstanding debts. As the executor or administrator, you must handle these debts properly to settle the estate. Understanding Texas laws can help you navigate this process effectively. Identifying and notifying...