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 ReadingA small estate affidavit in Texas is a court-approved way for heirs to collect certain property when someone dies without a will and the estate meets specific requirements. It can avoid the appointment of a personal representative, but it does not avoid court review. A small dollar amount alone does not make an estate eligible. Start with the checklist...
Continue ReadingA LegalZoom will can be valid in Texas if the document and its execution meet Texas law. Choosing between an online will and an attorney depends on your family, property, and need for tailored advice—not the brand name alone. Compare what the selected plan includes: document preparation, access to an attorney, signing instructions, revisions, and coordination with assets that...
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 ReadingOne of the best parts of living in the Lone Star State is its low tax burden. In fact, Texas had the 4th lowest state-local tax burden in the country as of 2022. A major reason for this is that Texas has no state-wide tax on personal income, and it also doesn’t have a state-wide estate tax—something that makes...
Continue ReadingLife can change in an instant. When it does, it is time to update your estate plan. You should update an estate plan after any major life event and, ideally, at least once every few years. Failing to update documents can result in confusion, disputes, and unintended outcomes—such as an estranged relative inheriting your assets or the wrong person...
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