Probate is a court process that commences after you die. It ensures your debts get paid, and your property goes to those you named in your will. Waiting for the court to allow the distribution of your estate may create an undue financial strain on your heirs. However,...
Estate Planning and Probate
Why are powers of attorney important?
Regardless of your age and health, you may – from time to time – think about who will handle your affairs if you can no longer do so yourself. While you may have an individual or two in mind, it is important that you appoint them to their roles in writing. To do so,...
Understanding the benefits of a special needs trust
Many families in Denton and the Dallas-Fort Worth Metroplex have family members with a variety of special needs. As both parents and the child age, planning for the child’s financial needs becomes a very critical issue. Over the last 20 years, lawyers working with the...
What is a Qualified Personal Residence Trust?
For wealthy individuals or those with large real estate holdings, estate planning can be complicated. After all, we want to protect the value of what we pass on, and we do not want our beneficiaries saddled with unexpected, complicated and expensive tax burdens after...
The importance of estate planning for young people
Estate planning is often seen as prudent for middle-aged and elderly adults to do, but the truth is that every young adult in Texas can benefit from estate planning. This process isn't just about deciding who gets what in the event of a death. Estate planning can make...
How to act as executor of an estate
Texas residents who have been appointed as an executor may want to familiarize themselves with the testator's will. They should also know where any important documents are located. When testators die and the executors begin their duties, they are permitted to hire an...
When to revise an estate plan
There are certain times in a person’s life when he or she may need to make changes to a will or trust fund. One example could be if a person has just moved to Texas from another state. Since different states have different estate planning and inheritance laws, it...
What to include in an estate plan for businesses
Texas is a great state in which to run a business, but many business owners could be doing more to ensure that their business is protected if they become incapacitated or pass away. Both business owners and non-business owners alike could benefit from having an estate...
How to create an estate plan
People in Texas who are creating an estate plan might want to start by making a list of their assets and their value or approximate value. If they have minor children, they should think about who they would want to be their guardian, and if they have dependents, they...
Factors to consider when creating your last will and testament
While planning retirement from your career, you may start thinking about creating a last will and testament. After accumulating a lifetime of property and assets, you want to ensure they end up with certain friends and family members. You do not have to wait until you...