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November 2019 Archives

How divorce affects one's will or trust

Many people in Texas have wills or trusts drafted during their lives to help ensure their property goes to the people they want after they die. Throughout people's lives, circumstances change, and life may be very different than when people originally drafted their will or trust. One way that people's lives may have changed is that they may have gotten divorced.

Potential remedies for trustee's breach of fiduciary duty

There are many situations where people in Texas rely on other people to do things for them. They have other people fix their cars, provide medical treatment, fix HVAC issues and provide other services for them. They need to trust that the professional hired to do the job will do what they say they are going to do and perform the work correctly. This is also true after people die. They need to choose personal representatives and trustees that will do what they are supposed to do for the beneficiaries of the trust.

Required notice to beneficiaries of a will

When people in Texas pass away their property will be distributed to their family members as is determined by a statute. However, sometimes people do not want all their property to go in equal shares to their children, their siblings or others as determined by the statute. People can control where their property goes though. This can be accomplished by drafting a will. In the will people can give their property in different shares to different people depending on the relationships they had with various people throughout their lives.

Evidence needed to contest a will

There are many things that people in Texas try to plan for in life. In many situations, having a plan makes things go smoother. One situation when making a plan is wise is when determining where a person's possessions will go when they pass away. This is important to plan for and many people fail to do so.

Did you include intangible assets in your estate plan?

Thinking about the future can be a difficult thing to do. After all, how can you know what types of protections you may need in the future? It's not easy to think about what will happen to your stuff after you pass away or what types of medical care you may want down the road, but it's worthwhile to do so.

Personal representatives may need to operate an estate's business

It is inevitable that everyone in Texas will pass away. It is one of the unfortunate facts of life and one of life's only guarantees. When people do pass away they cannot bring anything with them and all the possessions and assets that they accumulated over their life will stay here. The question is who will receive the possessions when they are gone. However, people can control who receives their assets after they have passed through a Will. In their will they can specifically state who will receive their possessions as well as how much a particular person will receive.