Discussing the existence of a will can be a sensitive topic for many families. In fact, estate planning is often a topic that many people do not want to address because it brings up the idea of death. However, one of the best things any adult can do for their family...
Heirs & Beneficiaries
Common succession planning mistakes to avoid
There comes a time in every business owner's life where they need to start thinking about who will succeed them once they retire. During this time, the business owner needs to create a succession plan so that the business can thrive without them. Here are some common...
Not all assets are subject to probate
As an heir or beneficiary, it's important that you have a clear understanding of what to expect during the probate process. This goes a long way in putting your mind at ease, while also helping you make informed decisions.If the deceased individual had a will, not a...
Were you named a beneficiary in a will?
You may know for a fact that you are named as a beneficiary in someone's will. For example, your parents may have made it clear to you that you are their sole beneficiary.Just the same, there are times when you may be surprised to find that you're someone's...
Important things to consider when choosing a beneficiary
You're faced with a variety of challenging and important decisions when creating an estate plan. Among them is deciding who to name as your beneficiary.Even if it sounds simple and straightforward, the more you think about it the more you'll realize that you have...
What do spouses receive if one dies intestate?
When people are married in Texas they generally share their lives. When one spouse earns income, it is as if both earned the money. They also share their assets such as a house, car, investment accounts and other assets. However, spouses do not always pass away at the...
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...
Handwritten wills create problems in probate court
At the heart of all probate litigation is the quest to uncover the intentions of the deceased. That person is no longer around to answer any questions or clear up any confusion, and so probate courts rely on a written will. This is why courts are so strict about...
Transfer-on-death deeds for real estate
Estate plans often use complex trusts to avoid probate, but avoiding probate doesn't always have to be complicated. For example, one way to have real estate avoid probate is sometimes to simply name a beneficiary to a transfer-on-death deed.A transfer-on-death deed...
Texas blended families have specific estate planning needs
There is no step by step guide for every estate plan in Texas or anywhere else. Since everyone's family situation is different, estate planning must reflect those differences. Some families might have significant assets and minor children. Others have a family...