Estate planning is an important aspect of financial management that often falls prey to myths and misconceptions. It is important to debunk these misunderstandings to ensure individuals make informed decisions about their assets and legacies. Estate planning is only...
Estate Planning and Probate
When can you seek to remove a personal representative?
The executor of an estate (or “personal representative,” as they’re known under Texas law) has a big job – even if the deceased left a relatively small and uncomplicated estate. If you’re a beneficiary of an estate, you may not agree with the person your loved one...
Ponder this when adding an advance directive to your estate plan
Advance health directives are legal documents that express your preferences for medical care should you become unable to communicate them yourself. A well-drafted directive may reduce confusion among your loved ones and help ensure that care providers respect your...
How to avoid probate in Texas
Probate is the legal process of settling a person's estate after their passing, often involving court proceedings. Fortunately, there are straightforward ways to sidestep probate in Texas, ensuring a smoother transition for your assets. Establish a living trust...
What happens if you die without a will?
Thinking of your own death is an uncomfortable feeling for most people. Furthermore, writing a will may seem arduous and intimidating, which is why many people put it off. Unfortunately, dying without a will in Texas can have devastating consequences for surviving...
How can young parents benefit from an estate plan?
Being a young parent is a rewarding yet challenging experience. Amidst the joy of raising children and building a family, it is easy to overlook the importance of preparing for the future. One important aspect that often gets sidelined is estate planning. While it may...
Why people need to plan for their elder care costs
Older adults who live long lives often find themselves in need of daily support. They may need help managing their medical issues or support in day-to-day life. The challenges caused by age and cognitive decline can leave someone in need of very expensive support...
Do I need an alternate executor for my will?
When you pass away, the instructions you leave behind in your last will are administered by whomever you choose as the executor. The executor’s responsible for ensuring that the beneficiaries you’ve specified will receive the assets in your estate. Naming an executor...
How do special needs trusts affect public benefits?
It can be disheartening to have a relative who cannot work due to a disability. Fortunately, your loved one might not be entirely out of luck. According to USA.gov, there are some social programs that provide benefits to individuals who need them. While beneficial to...
How can you include digital assets in your estate plan?
While creating your estate plan, you likely included physical property, such as real estate, family heirlooms and other valuable items. But you may not have made plans for digital items. According to a survey conducted by Caring.com, only 33% of Americans have created...