When a resident of Texas dies, the property of the decedent must be distributed to the decedent's heirs and beneficiaries according to state law. If the person dies with a will, the person who oversees the collection and distribution of the decedent's estate is called...
Executors & Fiduciaries
Report on artist’s business reveals risk of undue influence
Peter Max is one of the best-known visual artists in the world. His brightly colored artwork symbolized the pop art and psychedelic art movements of the 1960s and '70s, and has only grown more popular since then. He has been named the official artist for numerous...
The terms of a trust won’t always excuse breaches
As this blog has discussed on previous occasions, Texas trustees, that is, those who manage the property held in a trust, have both a lot of power and a lot of responsibility.With considerable freedom, trustees are allowed to manage what is often a large amount of...
Creating a trust is advantageous for trustors and beneficiaries
As mentioned previously in this blog, there are many estate-planning options available to those who wish to ensure their legacy is preserved after they are no longer alive. However, the process may seem overwhelming initially for those beginning it, as they struggle...
Are you establishing your power of attorney carefully?
There are a number of steps Texas residents can take to ensure their assets are distributed according to their wishes after they pass away. However, it is also important to take steps to ensure one's legacy is protected while they are alive but unable to make...
Can I provide directions for digital assets in estate plans?
These days, one's digital presence and digital assets are just as, if not more important, than one's real property and presence. People pay their bills, manage and access their accounts, and even buy cryptocurrency, making their digital assets and information an...
What is a fiduciary’s primary role?
Many estate arrangements involve the relationship of a trustee and a beneficiary and the creation of a fiduciary duty. The individual who has been named as the estate trustee is likely to be the fiduciary and the beneficiary is the principal. Before going down this...
Four types of Powers of Attorney
Many people do not realize that there are several different types of Power of Attorney. Each serves a specific purpose and has its own set of rules as to when it will come into effect, as well as when it will cease. Below, we discuss the four most common types.First,...
How does a durable power of attorney work in Texas?
Residents who are taking the necessary steps to protect themselves and their estates will want to know all the different tools that can be used under estate planning laws. One is a durable power of attorney. With a durable power of attorney, there will be another...
Criteria for choosing a family member as fiduciary
While previous posts on this blog have mentioned that Houston, Texas, residents have the option of hiring a bank or other institution to act as a professional fiduciary, executor, or trustee, in most cases, Texans are going to rely on a close family member or friend...