After a person dies, their estate must go through an official legal process before it is distributed to beneficiaries. This process ensures that the estate pays its debts and gets distributed according to the decedent’s wishes if they left a will or state law if they did not leave a will. This process is called probate. However, not all...
Continue ReadingWriting a will can provide many benefits to our families once we pass on. A will can prevent conflict between family members, clearly explain how property is to be distributed, and reduce our family’s costs in probate court. Any one of these goals makes the initial effort well worth it. Unfortunately, less than half of Americans have a written...
Continue ReadingWhen a person dies in Texas, their estate must be settled and distributed among their heirs. An estate is just a fancy word for describing all the things that a person owns, including their cash and investments. When lawyers talk about “probating” an estate, they simply mean settling the estate against any outstanding debts and liabilities. Whether a person...
Continue ReadingMaking a will is often a sensitive subject. Will your beneficiaries be pleased with your bequests, or will they be disappointed with how you have chosen to distribute your assets? If you are worried that disappointed or disgruntled beneficiaries might try to contest your will, you might consider including a no-contest clause in your will in Texas. What is...
Continue ReadingBefore hiring the most experienced or the cheapest lawyer, it’s important to know what questions to ask an estate planning attorney. Estate planning involves discussing important and personal topics like your family, finances, and goals. When choosing an estate planning attorney, you want to be comfortable and confident with the person you choose. It’s likely that the attorney will...
Continue ReadingIf estate planning is on your to-do list, you might be wondering if writing a will is enough. Your will, however, is just one portion of estate planning. In this blog, we explain the difference between writing a will and estate planning and describe the different documents that make up an estate plan. What Is Estate Planning? Estate planning...
Continue ReadingNot all states recognize handwritten wills—also known as holographic wills—as valid. Every state has its own rules, so a will can be valid in one place but not another. Handwritten wills in Texas are not only valid but just as effective as a typed will. That being said, a handwritten will is not the most reliable way to transfer...
Continue ReadingA last will and testament is a foundational estate planning document. In a will, you can lay out how you want your assets distributed upon your death. You also name an executor who will oversee your estate. While this concept is straightforward in principle, there are many factors to consider when drafting a will. Most importantly, you need to...
Continue ReadingOne of the most important decisions to make when estate planning is deciding who will inherit your assets. Your last will and testament will include these decisions in the form of bequests. So what does bequest mean in a will? Generally speaking, a bequest is how you instruct who gets what when you die. There are many different kinds...
Continue ReadingEstate planning for business owners is one of the most important but overlooked parts of setting up a business. Often, folks wait until it’s too late to have conversations about their wishes for their small business after they pass on. When setting up your business, estate planning for small business owners can be an essential component of preparing for...
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