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You created an estate plan so that your assets would go to the people and organizations you want after your death. Part of this process involved making a will that outlines the distribution of property. According to the American Bar Association, a will is a document...
Choosing a person close to you for the role of executor of your estate can be a big decision. No matter who you pick, they must prepare for the emotional aspects of this job as well as the legal aspects. Knowing how to diffuse or stop conflicts between beneficiaries...
If you are in the middle of the estate planning process, you are far ahead of most. In fact, according to reporting from CNBC, almost 70% of Americans do not have a basic will, let alone a comprehensive estate plan. Part of creating a comprehensive estate plan is...
Very few people want to think about the fact there may be a time when they are unable to make medical decisions for themselves. An advance directive is an estate planning tool that plans for incapacitation. One of the parts of an advance directive is naming a medical...
An executor named in a will or appointed by the probate court owes a fiduciary duty to manage an estate by following the deceased’s instructions. SmartAsset.com reports that an executor’s responsibilities include notifying heirs of the estate and informing them of...
Finetuning your estate plan will span your entire lifetime. As your life changes and new experiences happen, you will encounter more than one incident that requires you to update your plan. Knowing when and how to update your strategy can prevent costly and...
In most cases, biological parents serve as legal guardians who make all decisions regarding their children's welfare. However, the Texas court system may appoint someone else to fill this role when a child's parents cannot fulfill these obligations because of death,...
When a loved one passes away, probate court is often necessary and helpful in settling his or her final arrangements and distributing assets to any heirs named in a will. U.S. News notes that smaller, uncontested estates, those worth less than $70,000, usually have an...
When creating your estate plan, selecting an executor is one of the most important parts of the process. After all, this person will oversee your estate after your death. Of course, many people automatically lean toward a family member when choosing their executor....
Not every will is equal. Unfortunately, some people will battle with an unfair or unequal will that intentionally avoids giving someone their dues, or a will that was the result of undue influence. In these cases, it is possible to contest the will. However, not every...