More and more individuals across Texas and the rest of the nation are securing digital assets, such as cryptocurrencies or non-fungible tokens. Yet, studies suggest that many who own digital assets do not include them in their estate plans so that they may pass on...
A revocable living trust is a document that outlines what happens to your assets in the event of your death. The assets listed in your trust may include property, bank accounts and other financials, such as retirement plans and investments. Creating a revocable living...
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...
If you want to set up an estate plan, it is vital to closely examine your individual circumstances and determine the most sensible course of action. Whether you want to create a will or a trust, you have many options, and you need to carefully review your finances and...
You created an estate plan so that your assets would go to the people and organizations you want after your death. Part of this process involved making a will that outlines the distribution of property. According to the American Bar Association, a will is a document...
Choosing a person close to you for the role of executor of your estate can be a big decision. No matter who you pick, they must prepare for the emotional aspects of this job as well as the legal aspects. Knowing how to diffuse or stop conflicts between beneficiaries...
If you are in the middle of the estate planning process, you are far ahead of most. In fact, according to reporting from CNBC, almost 70% of Americans do not have a basic will, let alone a comprehensive estate plan. Part of creating a comprehensive estate plan is...
Very few people want to think about the fact there may be a time when they are unable to make medical decisions for themselves. An advance directive is an estate planning tool that plans for incapacitation. One of the parts of an advance directive is naming a medical...
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...