Common Probate Mistakes to Avoid
Probate is a necessary legal process for settling a loved one’s estate, but it can quickly become complicated if mistakes are made. Missteps in probate can lead to unnecessary delays, disputes, and financial loss.
At the Law Office of Carey Thompson, PC, we help families and estate representatives...
Beneficiaries Who Require Special Treatment During Estate Planning
Estate planning isn’t just about deciding who gets what. It’s about ensuring your loved ones are financially secure in a way that protects them from unnecessary risks. Some beneficiaries need extra consideration—whether it’s due to a disability, poor financial habits, substance abuse issues, or simply being too young to manage an inheritance...
When a Trustee in El Paso Fails to Do Their Job
Trustees play a vital role in estate planning, managing assets, and ensuring beneficiaries receive what they are entitled to. When a trustee acts improperly—whether through negligence, mismanagement, or intentional wrongdoing—it can cause financial harm and legal disputes.
Whether you're dealing with a trust dispute in El Paso or questioning...
Can Probate Leave Me With a Smaller Inheritance?
If you expect an inheritance, you may assume you’ll receive your full share of the estate. However, the probate process can sometimes reduce the amount beneficiaries ultimately receive. Between court costs, legal fees, taxes, and creditor claims, probate can take a significant financial toll on an estate—leaving heirs with less than anticipated.
Important Estate Planning Considerations When Nearing Retirement
Retirement is a significant life milestone but also a critical time to review your estate plan. As you shift from building wealth to preserving it, ensuring that your assets are protected and your wishes clearly outlined becomes more critical. Many retirees make the mistake of assuming their existing estate plan is sufficient,...
What Is Breach of Fiduciary Duty in Estate Planning?
Most people expect an executor or trustee to manage an estate with honesty and care. After all, fiduciaries are legally required to act in the best interests of beneficiaries. But what happens when they don’t?
Whether you’re a beneficiary concerned about protecting your inheritance or a fiduciary wanting...
Tax Considerations for Social Security Benefits
Many assume Social Security benefits are tax-free, but that’s not always true. Depending on your total income and filing status, some of your Social Security Disability Insurance (SSDI) benefits may be taxable at the federal level. Supplemental Security Income (SSI), however, is never taxed. Understanding how Social Security benefits are taxed can...
Tips for Preparing Yourself as Executor of an Estate in Texas
Being named an estate executor is an honor and a responsibility. While it means someone trusted you enough to handle their final wishes, the role comes with legal and financial obligations that can feel overwhelming. If you’ve been appointed executor in Texas, working with an experienced probate attorney can make the...
Understanding the Ins and Outs of Payable-On-Death (POD) Accounts
A Payable-on-Death (POD) account is a type of financial account that allows you to name a beneficiary who will inherit the funds after your death. While you are alive, the funds in the account remain under your control. Upon your passing, the funds are transferred directly to the named...
Tips and Considerations for Your Administrative Law Judge Hearing
If your Social Security Disability (SSD) benefits application was denied, you’re not alone. Many initial applications are denied, but you have the right to appeal the decision. One of the most critical steps in the SSD appeals process is your hearing before an Administrative Law Judge (ALJ).
This...