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Duties Of A Trustee
Trusts are one of the best ways to protect assets after one’s death. All trusts must have an appointed trustee, and there are many important duties that go along with being a trustee. If a trustee fails to adhere to these legally binding responsibilities, he or she can find himself or herself in serious legal and financial trouble.
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How Does Probate Administration Work?
Many people wrongfully assume the administration of assets after a death is a straightforward process. If a decedent leaves behind real property, one would think the property could be easily transferred to his or her next of kin. However, the reality is the administration of assets after a death is incredibly complex, and sometimes highly contested by heirs.
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Who Can And Can’t Be Given Medical Power Of Attorney?
Tragic instances in life can cause an individual to no longer be able to make decisions on their own behalf. Some people choose to prepare for this worst case scenario by designating someone to have medical power of attorney; however, you can’t just assign medical power attorney anyone.
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How To Protect Your Assets After Your Death
Planning for your own death can be challenging for people, but the reality is that it is absolutely necessary. There are a number of parties who might try to claim some of your assets after your death, and the only way to ensure your assets are distributed to your loved ones according to your wishes is to plan ahead.
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Four Reasons You Might Contest A Will
Many people adopt wills so their assets are properly distributed after their death. Despite the best estate planning efforts, one or more parties might contest a will, leading to complex and lengthy probate litigation.
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What To Know About Heirship In Texas
Most people think determining heirship is a simple process, and in some states it is, but in Texas, the laws regarding heirship are much more complex. Heirship is incredibly important when an individual passes away without leaving a will. A court will determine the legal heirs of the deceased’s estate so that the items contained therein can be passed on to them. So how does a court determine heirship?
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Should You Create A Will Or Trust?
When you begin your estate planning, you’re going to make a few key decisions that can greatly impact your assets. When determining how your assets will be divided, you will first need to decide if you need a will, a trust, or both.
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Five Things To Know About Living Wills
Living wills are incredibly useful for people all ages. Even if you are young and in good health, you should consider creating a living will. A living will allows an individual to dictate end of life care should an accident or illness leave them incapacitated. Living wills can also protect family members from having to make difficult decisions about your medical care because the living will states your wishes.
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Power of Attorney vs. Living Will: What’s the Difference and Do You Need Both?
Estate planning can be an overwhelming process without the help of an attorney. Many Texans are unaware of the difference between a power of attorney and a living will – and both documents are extremely important for end of life care. To understand whether you need a power of attorney, living will, or both, you need to understand their subtle differences.
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7 Types of Trusts You Need To Know About
Estate planning is not quick process. There are many details that need to be addressed to ensure your wishes are observed after your passing and your assets are distributed how you want. Many people choose to set up a trust for their assets after their passing because it has several advantages over a will, but not all trusts are created equal.
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