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...
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...
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...
When making an estate plan, one key step is to pick the estate executor or estate administrator. They receive a lot of power during probate, as they handle various affairs for the estate, including paying debts and distributing assets. The first thing to look for is...
Losing a spouse while managing probate can be an overwhelming combination. For surviving spouses in Texas, state law provides constitutional and statutory protections designed to keep you financially stable and securely housed during estate administration. Texas...
On average, only about 1/3 of all Americans have drafted an estate plan. This means that most people do not have a will, they have not created a trust and they have not taken other steps to plan for the future, such as setting up a power of attorney. When someone...
Your estate plan may need to include some digital assets. But the reality is that it is complex. It depends on the type of digital assets you have, how you acquired them and what you plan to do with them moving forward. For example, perhaps you purchased...
An estate plan helps establish what happens to your assets after you pass away. For example, you may want your spouse to inherit your entire estate. You may split your estate among your children. You can use a will to codify who inherits your assets. However, a will...
The probate process typically takes 6 to 18 months, though simple estates can sometimes be completed in 3 months. Unfortunately, even relatively minor mistakes can slow the administration of an estate, increase costs and create unnecessary stress for the surviving...
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...