The choice of who will be trustee of your living trust after you is one of the most important decisions you can make in your estate planning. There are several factors you will want to consider when selecting your successor trustee.
A Texas estate planning attorney can create...
When you create a living trust document as part of your estate planning, you will need to select someone to serve as the trustee of your trust. Usually, the person who creates the trust is the trustee during their lifetime. The successor trustee steps in to administer the trust after the original...
Anyone could become temporarily incapacitated due to a sudden motor vehicle accident, illness, or injury. Some people are able to recover and regain the ability to manage their finances and make and express their own decisions about medical care and other issues. Some people become incapacitated for many years.
Preparing a will is one of the easiest things you can do to have an estate plan and peace of mind. Unfortunately, too many people don’t prepare one and die intestate (without a will). You may not realize that when a person dies without a will, the state decides what happens to their...
Many events in our lives, such as buying a home or having children, cause us to consider if we should prepare an estate plan. Often, once individuals acquire assets above $100,000, they seek the advice of an attorney. A typical estate plan involves a will, advance directives, and in some cases, a...
Like many other states, Texas allows people to create special needs trusts that can provide financial help for people with disabilities. There are strict rules on how to set up a special needs trust and limitations on how the trust assets can be used. If these rules get violated, innocently or otherwise,...
Blended families are the norm now, and these situations can make estate planning more complicated than the “leave it to Beaver” fantasyland. It is already tempting for many people to procrastinate about making an estate plan, but when you throw in the obvious emotional entanglements inherent in blended families, it is easy...
Although a person might feel as if they “won” because they got named to serve as the trustee of a relative’s trust, they often feel differently when they realize the massive amount of work involved. Also, they seldom understand the potential liability they face in that position. Just because you got named...
Probate is the process of transferring a person’s property after their death. If the person has a Will, the court oversees the distribution of the person’s assets to the heirs named in the Will. The probate process can be lengthy, time-consuming, and costly in some situations.
However, some...
Your will represents your final wishes for how you would like your remains and property handled upon your passing. Often, what we want does not make all of our loved ones happy and leads to discord. You may be anticipating this could be possible in your situation. In that case, our
