As an executor, you possess a significant amount of responsibility and power. After all, the deceased entrusted you to carry out his or her final wishes and to handle the remaining details of distributing his or her estate. That said, you may wonder to what extent you...
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...
If someone asks you to act as a fiduciary over his or her estate, it is a great honor, but it is also a huge responsibility. In some ways, trustees and executors are similar. However, they have different roles to play in estate administration. If you are to serve as...
If someone wants to name you as the agent in a Medical Power of Attorney, it is important that you understand what the role entails. Your role only comes into play when the person who named you, known as the principal, cannot make medical decisions on his or her own...
Becoming the executor of your relative’s estate may feel like an honor, but it also comes with great responsibility since you will have to make sure all of the beneficiaries receive their share of the estate. If one or more heirs think you are mishandling the estate,...
If you name someone a guardian in Texas, or if someone names you a guardian, know that the designation is not necessarily set in stone. State law not only provides a priority list for choosing a guardian but also, specifies factors that may render a person ineligible...
If you are a fiduciary administering the estate of someone who has passed away, one of your responsibilities involves funding bequests. Bequests are special gifts that the testator specifies in his or her will that certain people, or sometimes organizations, are to...
Did you want to become a guardian to help others, or was it a duty you took on because you believed no one could take care of your loved one better than you? Whatever the case may be, you have the responsibility of looking after someone who can no longer care for...
A trustee is a fiduciary, meaning the trustee has a general duty to manage and protect the trust assets of the beneficiaries. Depending on the trust you create, your trustee may have different duties from other trustees. If you have a family member who struggles with...
The Texas Estate Code allows the courts to appoint a guardian to oversee an individual's property, assets and finances. As noted by the Texas Department of Family and Protective Services, adults with a physical or mental impairment who cannot manage their financial...