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Not all assets end up going through probate. Some assets do not become part of an estate because they have beneficiary designations. Assigning a beneficiary on an asset means you can directly pass it to another person after you die, allowing the asset to bypass...
A valid will requires naming an individual as your estate’s executor. The individual you choose administers to the various needs that arise during probate. Under Chapter 304 of the Texas Estates Code, you may name a spouse, relative or trusted individual capable of...
Whoever serves as your estate executor will have the responsibility of distributing your estate to your heirs, so you want to look for ways to lighten the burden on your executor. Sometimes estate administrators become swamped with duties because the estate has a lot...
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....
The purpose of a will is to prevent disagreements about one’s property after death. However, things do not always go as planned. If someone disputes the will, it can lead to litigation. What are some common causes of estate litigation? A will is a legally binding...
Many siblings will deal with rivalries between one another at some point in their childhood or even adulthood. While many of these spats are minor and most siblings will grow out of them, others may end up holding life-long grudges. The fires of these grudges may end...
Sibling rivalry is nothing new. Most families with siblings will experience it in various forms, whether friendly competition or genuine malicious disagreements. When financial matters end up in the mix, as is the case with probate, things have a chance to get out of...
Losing a close friend or family member is emotional and often overwhelming. While there are many difficult matters to tackle, settling the estate’s finances may be one of the most daunting. Many people believe that once a loved one passes away, any debts they owe...
When you serve as the executor of the estate, one of your duties is to handle the finances of your loved one. However, working through another person's finances can often be a complicated process, and you may not always know where to start. According to Nerd Wallet,...