When someone creates a trust, they must appoint a person or institution to manage the trust’s assets and carry out its terms: a trustee. In short, a trustee is legally responsible for managing trust assets for the benefit of someone else. They must act with honesty, care, and loyalty to ensure they manage the trust in the best interests...
Continue ReadingWhen it comes to estate planning, most people have the same goal: to make things as stress-free and straightforward as possible for the people they love. That’s exactly what a Transfer on Death Deed (TODD) can help you do, especially if you own real estate in Texas. At Massingill, our superpower is making the complex simple, and TODDs are...
Continue ReadingYou’ve worked hard for what you have—your home, your savings, your family traditions—and now you’re wondering how to protect it all. If you’re considering a trust, you’re already ahead of the curve. At Massingill, we simplify the complex. That’s especially true when it comes to estate planning. Too often, people assume trusts are only for the ultra-wealthy. Not true....
Continue ReadingWhen a loved one passes away, handling their estate can feel overwhelming, especially if you’re trying to honor their memory while navigating the legal process. That’s where a small estate affidavit can provide real relief. If you’re wondering what a small estate affidavit in Texas is, you’re not alone, and Massingill is here to make the complex simple. This...
Continue ReadingWhen planning a will, many people assume that filling out a single document or form is enough to divide their property appropriately upon death. They aren’t aware of the benefits of doing wills online vs attorney. Unfortunately, this often results in unforeseen problems, such as beneficiaries contesting the will. At Massingill, we are dedicated to helping clients protect their...
Continue ReadingA crucial step in the administration of someone’s estate after the individual passes away is determining the value of the estate by doing an estate valuation. After all, you cannot fairly divide and distribute the estate’s assets to your descendants if you do not know what the estate is worth. Navigating the complexities of estate distribution and calculating the...
Continue ReadingDisputes are a part of life. Although many people can, and do, resolve their disputes by talking through the problem, sometimes the only solution is a lawsuit. There are many types of civil litigation. Understanding where to start and how to proceed can be overwhelming and complex. The best discussion an individual can have about the kinds of litigation...
Continue Reading“Lawsuit” can be an intimidating word for anyone involved in a dispute. A defendant needs to answer for their wrongdoing, and a plaintiff has many steps to follow to recover damages. But what is the process of civil litigation? This article will outline the basic steps in the litigation process. If you’re facing a potential lawsuit, Massingill can simplify...
Continue ReadingNo matter what an individual might face, the future is easier to handle when they have a plan. One of the most crucial plans an individual should consider is an estate plan. Estate planning can help a person take care of loved ones and protect themselves in the event of their incapacitation or death. What documents are needed for...
Continue ReadingOne of the best parts of living in the Lone Star State is its low tax burden. In fact, Texas has the 4th lowest state-local tax burden in the country as of 2022. One major reason for this is that Texas has no state-wide tax on personal income. Texas also doesn’t have a state-wide estate tax. That’ll make many...
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