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When an individual dies in Texas with assets in their name, an executor will be responsible for overseeing the probate process. The executor can be anyone who is a legal adult of sound mind, and this person must make decisions that are in the best interest of the...
Estate planning involves drafting a will and other essential documents. Effective estate planning can simplify probate in Texas compared to dying without a will. However, only some people put effort into it. Children of parents who have not drawn up a will may benefit...
Aretha Franklin was a female vocalist known as the Queen of Soul. With fans around Texas, the nation and worldwide, many mourned when this legendary singer passed away in 2018. From a career that spanned decades, Franklin's estate had an estimated net worth of $80...
As a Texas business owner, having a plan in place for the future of your business, including what will happen if you're no longer able to run the company, is vital for management, staff and customers. Developing a succession plan can ensure that your business...
When a Texas resident becomes incapacitated because of age, injury, or disease, the court may appoint an individual to protect and take care of them. The person providing care is called a guardian, and the person being cared for is called a ward. Judges prefer to...
Your beneficiaries receive benefits from assets such as life insurance and retirement accounts. You’re responsible for naming your beneficiaries and providing the correct information. Here are some common mistakes that Texas residents should avoid regarding...
One of the most important aspects of estate planning is finding ways to keep your assets out of probate. This comes with several advantages, including avoiding probate fees and the delay of asset distribution. Transferring ownership of assets to a trust When you...
Not having an estate plan is one of the biggest estate planning mistakes you can make. By failing to plan, you could be leaving your loved ones with a huge financial burden and potential legal problems regarding your Texas estate. However, there are a number of estate...
Estate planning is an important process that everyone should undertake in Texas. Part of estate planning is appointing a power of attorney. Unfortunately, many people do not fully understand the role of a power of attorney. If you're one of them, here's what you need...
One of the things you have to plan for your business is who will succeed you. Not having a valid succession plan in place is one of the biggest mistakes made by Texas business owners. This is an error that can lead to consequences that may have a serious effect on...