Choosing a family member to serve as executor of an estate is common in Texas. This role carries important responsibilities, such as paying debts, managing assets and distributing property according to your will. It is only natural to choose someone you deeply trust. ...
Fiduciaries play a key role in managing financial matters for estates and trusts. One of their most important responsibilities involves handling outstanding debts. If you're named as a fiduciary, you might wonder whether you could be held personally responsible for...
When a loved one passes away, there are likely loose ends that need to be tied up. Some of these may have to do with the decedent’s finances. In most cases, the person’s estate is liable for covering those debts. Even if the estate is insolvent and can’t pay them, the...
When you take on the responsibility of managing a loved one's estate, one of your first tasks is creating an inventory of their assets. This list helps settle debts, distribute property, and meet legal requirements in Texas probate. Start with physical property Begin...
Handling a missing will can be stressful, especially when you’re managing someone’s estate. In Texas, the absence of a will doesn’t prevent you from settling the estate—it just makes the process more complicated. Understanding how to proceed can save time, reduce...
If you've recently experienced the loss of a loved one, you may be wondering what happens to a trust during probate in Texas. The process can seem confusing, but understanding the key steps can make it easier to navigate. While probate and trusts are different, it's...
Many people think that it makes sense to wait to make an estate plan. In fact, since most people don’t have an estate plan, researchers have asked them for the reasons why. Planning to do it at a later date is one of the top reasons they give. Usually, people assume...
Fiduciary conflicts of interest can complicate relationships between fiduciaries and beneficiaries. A fiduciary is entrusted with managing another person's assets, and their duty is to act in the best interests of the beneficiary. When a fiduciary’s interests...
Do you remember the last time you drafted your estate plan? If you are struggling to recall the last date you updated your estate plan, then this may be the year to make some changes. It is often suggested that an estate plan is updated at least every five years....
Disagreements among heirs can delay estate administration and create lasting family rifts. Whether it's about dividing assets, selling property, or interpreting a will, conflicts can make probate more complicated. Understanding the common causes of disputes and how...