During the creation of your estate plan, you will most likely run into terms like wills and trusts. In fact, many people will have both of these things in their own estate plans, because each holds a different purpose and fulfills a different goal. So what are the...
Based on whether a deceased individual created a will, a Texas probate court judge may have a significant role in distributing his or her assets. As noted by SmartAsset, if you die with a will, the probate court judge has responsibility for proving its validity and...
When it comes to your estate plan, you have a lot of important decisions to make. One major decision, if you choose to establish a trust, is to choose your trustee. According to CPA Journal, the trustee controls your trust. Strong sense of judgment Your trustee has...
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...
People who decide to create a will have a number of decisions to make, but choosing an executor is usually among the most crucial. According to Farm Bureau Financial Services, an executor's main duty is to carry out the final wishes of the deceased and see to the...
Selecting an estate executor is one of the most important decisions you will make during the estate planning process. When you pass away, the executor will be responsible for taking care of any unfinished business and carrying out all your final wishes. For these...
Living trusts are extremely powerful estate planning tools to add to your arsenal. Sadly, many Americans are not aware of living trusts, nor how they can streamline your estate planning. Proper use of trusts can help your beneficiaries gain access to your assets...
People in Texas may likely recall hearing many pieces of advice offered up by estate planning experts espousing the benefits of avoiding probate. The main reason for this counsel is to potentially avoid the fees associated with a long, drawn-out probate process. Many...
Recently, you learned a loved one appointed you as executor of her or his estate, and you want to learn as much as possible about the role. What pitfalls should you make yourself aware of? Forbes shares common executor blunders. Rather than make your own mistakes with...