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May 2017 Archives

Are there common mistakes with estate planning? What are they?

Even Texans who take the steps to create an estate plan might not have implemented all the correct strategies based on their individual circumstances. There are certain mistakes that people will commonly make when they are drafting estate planning documents. These can negatively affect asset distribution and other matters after they have passed on. People need to be cognizant of legacy planning. Understanding the errors that are commonly made is a way to avoid repeating them.

Late actor's family prepares for court battle over estate

When people of significant means die in Texas or anywhere else, there is the chance that the heirs will be displeased with how the assets were distributed in the will. This is something that occurs with people who are famous and have had more than one marriage and children with multiple partners. It can be a complex issue that often results in probate litigation. Such is the case with a Hollywood performer who unexpectedly died and whose children and wife are disagreeing over his estate.

Guidance for probate issues and alternatives to probate

Probate can be a complex issue for Texans whether they have significant assets, they are middle class or have limited amounts in their portfolio. Regardless of the person's standing in society, the probate process can be confusing and difficult to navigate. This is even before getting into the possibility of there being a probate dispute.

Preventing family fights over your estate

Watching your family grow and change, you may feel sad when you see the tensions that exist among your children, stepchildren or other family members. Perhaps you even anticipate that, after you leave this world, those tensions may become worse, especially if your heirs squabble over your estate. While it may be tempting to leave it all to fate, doing so may result in lifelong discord among your loved ones and bitterness directed at your memory.

Estate planning when there are confusing issues to navigate

A worry that aging people frequently express when considering estate planning options is how best to distribute their assets among their heirs. There are numerous factors that go into this decision and it is often connected to need vs. fairness. For example, the parents might have more than one child with one being highly successful in an endeavor and the other still struggling to find his or her way. Deciding how to divide the estate is a common source of acrimony. Fairness is in the eye of the beholder and it is beneficial for a person to have legal advice as well as practical advice when determining how to divide assets.

Estate planning tips for newlyweds

The summer wedding season is just around the corner. With that, thousands of couples will pledge to share their lives together while entering a new chapter of their lives. Indeed, weddings can come with their own set of set of concerns. After all, couples may worry about how things will come together, whether notorious family members will do or say embarrassing things, and whether they will survive any wedding disasters.

Calculating fairness and equality in estate planning

Even Texans who take the necessary steps to formulate an estate plan might still sow the seeds for family disputes if the proper strategies are not implemented. Frequently, there is an issue with the division of assets and it does not have to do with their equal distribution, but their fair distribution. People who are leaving assets, property and more to their offspring will strive to be fair, however when it comes down to making the hard decision as to which child, relative or heir should receive what, more comes into the equation than just a random idea about fairness.