Houston Probate & Estate Administration Law Blog

There is no predicting how family relationships will turn out as children grow into adults and find their own ways. You may be living proof of this if your adult children are living lives that are very different from what you had hoped and planned for them. Perhaps you even have one child whose life choices are so far removed from yours that you have made an intentional decision to disinherit the child from your estate.

What you plan to do with your estate after your passing is largely your choice. Some states, such as Texas, have laws that protect spouses and minor children from disinheritance, but otherwise, it is your right to distribute your assets as you see fit. However, if it is your decision to disinherit a child, you should know that such actions can easily lead to protracted and expensive probate litigation unless you prepare your estate carefully.

You've created a will, you're happy with the terms and conditions, and you hope that you can keep it the same for the rest of your life. However, you shouldn't assume that this will happen, as it may be necessary to make some changes as the years go by.

Here are some situations in which a will modification may be necessary:

• A change in executor: There may come a point when you need to change the executor of your will. Maybe you had a falling out with the person currently named as executor. Or maybe this person has passed on prematurely. Don't wait to make a change if necessary, as you don't want the court to appoint someone upon your death.
• A change in beneficiaries: Your will outlines what happens to your assets upon your death. You can name one beneficiary or several. This can change throughout your life, such as if you go through a divorce, get married or have children.
• Adding a guardian: Maybe you were single with no children when you created your will. However, you recently brought a child into the world, so now you need to consider the impact on your estate plan. A will allows you to name a guardian for any minor children.

Once you decide to create a trust, you'll be faced with a variety of questions that require your attention. For example, you need to choose a trustee. And when doing so, it's imperative to name the right person.

Answer these questions as you compare trustees on your search for the right one:

• Can you trust the person? If you can't trust the person completely, you're best off considering another individual for this responsibility. The last thing you want to worry about is a trustee that will make decisions that benefit them, as opposed to the trust and its beneficiaries.
• Can the person make difficult decisions at difficult times? For example, if you're incapacitated, your trustee may need to step in and make important decisions regarding the way in which your assets are invested. You must have confidence that they'll do so to the best of their ability.
• Will they stick with their responsibilities over the long run? A trustee has the potential to remain in this position for many years, so it's a must that they're devoted to the responsibility. If you think a person will get bored with their responsibilities or move on for another reason, mark them off your short list.

As challenging as it may be, it's satisfying to create an estate plan that you can trust. Not only does it ease your mind and reduce tension, but it's sure to do the same for your loved ones.

After creating an estate plan, you shouldn't put it away and hope that everything remains the same. Instead, it's important to regularly review your plan. Here are some times when it makes sense to take action:

• Marriage or divorce: It doesn't matter if you tie the knot or dissolve your marriage, you need to review your estate plan for changes. You're likely to find a few that immediately make sense.
• Having a child or adoption: If you have a child or adopt a child, there are things to change in your estate plan. For example, this is a good time to name a guardian, as you want to know that any minor children will be cared for in the event of your passing.
• Major financial change: Maybe you receive a large inheritance, win the lottery or settle a lawsuit. If your financial circumstances change, review your estate plan to determine if you need to make any adjustments.