According to the Centers for Disease Control and Prevention (CDC) National Center for Health Statistics, marriage rates throughout the United States have steadily declined since the 1980s. However, that doesn’t mean there are fewer people in committed relationships. In fact, studies show that the number of Americans living with an unmarried partner is growing, indicating the public’s shift on perceptions of marriage. That...
Continue ReadingA crucial step in the administration of someone’s estate after the individual passes away is determining the value of an estate. 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 estate valuation of personal property,...
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...
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. Unfortunately, this often results in unforeseen problems, such as beneficiaries contesting the will. At Massingill, we are dedicated to helping clients protect their legacy and give their family peace of mind. Contact us today for...
Continue ReadingSetting up a living trust is often a highly efficient method of maintaining control over your assets while preparing to pass them on to descendants. However, you must take steps to prepare your assets for the trust. Transferring ownership of your property to your trust is one such step. Ensuring that a trust officially owns all the assets you...
Continue ReadingWhen someone passes away, the executor is in charge of handling the decedent’s estate. From finding assets to paying taxes to distributing real estate, the executor has a lot to do. Let’s walk through the different responsibilities of an executor of an estate. If you have questions, please contact the Austin estate planning attorneys at Massingill today online or call us at 512-601-6741...
Continue ReadingBeing the executor of an estate is a massive responsibility. Executors must satisfy all the legal hurdles of the probate court and ensure that heirs and beneficiaries get the property they are entitled to. Unfortunately, many legal requirements of probating a will can be challenging for executors to satisfy. One of the first legal hurdles is obtaining letters testamentary....
Continue ReadingA properly formed and executed estate plan can ensure loved ones benefit from all a decedent’s property once they pass. Unfortunately, not everyone can perfectly manage their assets and make the proper arrangements to pass them on with little effort. Sometimes, valuable property can fall through the cracks. During the probate process, the families of the deceased might not...
Continue ReadingWhen a loved one dies without a will, distributing their estate can add even more hardship to a grieving family. In most cases, the decedent’s estate will go through a probate process involving lengthy delays and court oversight. Fortunately, there are some methods heirs can use to receive the decedent’s property without going through probate. A Texas affidavit of...
Continue ReadingThe Texas Estates Code sets out a process for overseeing the distribution of an estate’s assets. Intestate estates (those where the decedent left no will), and an estate with assets that are not exempt, must go through probate. Though the process is relatively straightforward, several issues that might interrupt the distribution of the estate to heirs can arise. From...
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