When a loved one who ran your family business dies, you may face grief and hard questions about the company's future. You might wonder who will inherit the business and who can make decisions about its daily work. Without a will, these questions can feel even harder...
You often hear people say that debts are not inherited, and this is true. When a person passes away, their children are not going to inherit that debt. Unless the child was already connected to the debt, such as a co-signer on a loan, they do not suddenly take on that...
Managing a loved one’s finances after they pass away often brings unexpected challenges. Banks usually freeze accounts until a Texas probate court recognizes you as the executor. Getting letters testamentary gives you the legal power to manage these bank accounts and...
The death of a family member can raise unexpected legal questions. A pending lawsuit does not always end when someone dies. Under Texas law, many claims can continue through the deceased person's estate, while others may end depending on the type of claim and...
When making an estate plan and setting up a trust, one key step is to select the appropriate trustee. You can choose an individual, such as a family member, or you can choose a professional trustee. Either way, they are in charge of administering the funds within that...
Finding unreported income during estate administration can cause stress and confusion. The income may include rent, dividends or business earnings that the deceased did not report. Estate representatives must identify, manage and account for estate assets. They also...
You can use a no-contest clause as part of your estate plan if you are worried about estate challenges from certain beneficiaries. This clause acts as a way to prevent those challenges. For instance, maybe you have three children. You are leaving one of them...
Before a Texas probate court can appoint a personal representative or authorize the distribution of an estate, specific documents must be on file. The exact filings depend on whether the deceased left a valid will, but most Texas probate cases begin with the same core...
Blended families may face inheritance disputes when estate documents do not clearly address children from different relationships. Biological children may have rights to assets owned before remarriage. Stepchildren may also expect equal treatment. When there is no...
Serving as a personal representative in Texas comes with legal duties. These duties include protecting estate assets and following court requirements. In some probate cases, a court may require an executor or administrator to post a fiduciary bond. The bond helps...