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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...
When people pass away, all their assets and liabilities become known as the person's estate. Someone has to be in charge of settling the estate's affairs and transferring assets to the heirs and beneficiaries. Under Texas law, this person is known as the executor or...
Before your divorce got fully underway, you likely knew that you would need to make many changes in life. You undoubtedly considered the arrangements you would need to make for the children, what you should fight for during property division and numerous other factors...
Disputes over inheritance can be very ugly. These fights can turn sibling against sibling, or even children against a parent.A long-running case of probate litigation is unusual both for its ugliness and the beauty of the disputed assets, a collection of fine art. The...
Your will is meant to be the last statement of your intentions about how to distribute your property after you are gone. However, a lot can happen in your life after you sign your name on your finished will. If you don't update your will to reflect these changes, you...
The recent overhaul of the federal tax code has led to many unforeseen changes. One has been a change in the uses of revocable trusts, also known as living trusts in divorce.One of the most popular reasons people set up a trust is to avoid probate. Assets held in...
Texans who have significant assets or properties that could be the foundation for dispute after they have died will seek to prepare for the future by addressing these probate issues beforehand. Unfortunately, even the most well-crafted estate plan can have...
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...
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...
There is a misconception that estate planning is something only reserved for the wealthy and famous or those with large estates. In reality, virtually every Texas adult could benefit from having even a basic estate plan. While people with children or valuable assets...