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...
When someone names you the executor of their will, you become a fiduciary. That means you are liable for any mistakes that occur during estate administration, no matter how large or small. While you must follow the terms of the will and other estate planning documents...
When considering fiduciary representation for your estate, it is important to get a clear understanding of the term fiduciary. The term fiduciary often has different meanings for different people. In the legal realm, however, the term takes on a more precise meaning....