Houston Probate & Estate Administration Law Blog

An executor of an estate has many responsibilities. Not only must they administer the estate of the deceased person, but they also must meet important fiduciary duties. These duties can include, among others, providing an accounting of the assets and debts of the estate in addition to reporting to the court. When an executor fails to meet their duties, beneficiaries can end up in court demanding accountings, or in extreme cases, asking for the removal of the executor.

Texas residents might be interested to learn about the removal of an executor that was requested in Georgia. The trustee of a testamentary trust that was a beneficiary of the deceased's will requested that the court remove the executor of the estate and demanded a full accounting of the estate.

Texas residents should beware of relying on oral promises for their estate planning needs. One of the main functions of a will and estate plan is to make sure that your wishes for the distribution of your assets are clear and followed. If you make an oral promise that is inconsistent with your will or greater estate plan, there is no guarantee that this oral promise will be honored. In fact, it is more likely that a court will throw out any probate litigation based on the alleged promise.

That is what happened in the case of one of the world's richest men, Richard Pratt. The billionaire businessman died recently and his wife of 50 years was probably horrified when a former high-end escort emerged and made a claim against the businessman's estate based on an oral promise.

It is important to work with an estate planning attorney who understands your needs and your wishes for your estate. You have no say in how your estate will be handled if you fail to execute an estate plan. The failure to execute a will, trust, or other estate planning tools can lead to familial strife as various family members may have different ideas on how to divide up the assets of an estate. The lack of a will can also lead to corruption, fraud, and probate litigation that can drag on for years.

One estate marred in litigation is that of reggae singer Bob Marley. Marley died without executing a will because he believed that his Rastafarian religion prevented him from acknowledging his mortality. This opened his estate to fraud when his wife's lawyers allegedly forged estate planning documents after his death. The scheme was uncovered by Marley's former managers who started the legal battles which would throw an attorney and an accountant in jail for fraud, among other things.

Parent's try their best to provide a better life for their children. They carefully consider their childhood education choices, make sure they are eating properly, have the right equipment for their after-school activities, and try to save for their college education. Many parents work hard to set their children up for success, hoping to be there to guide them along the way.

Although it's something parents don't want to think about, estate planning can help protect your children well into the future, should the unthinkable happen and you aren't able to help them through to adulthood. Some people don't have wills and others have outdated beneficiaries or not enough safeguards in place such as adequate life insurance.