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How Much Does It Cost To Set Up A Guardianship?
I frequently get calls about setting up a guardianship for a person who cannot manage their own affairs. Unfortunately, the people calling have no idea the expense involved in setting up a guardianship. Guardianships are complicated and time consuming. To put it simply, guardianships are very expensive. There are many steps involved in establishing a guardianship and a great deal of court involvement.
Read MoreDo I Need A Trust?
I frequently am asked by prospective estate planning clients, "Do I need a trust?" The answer is the classic one: It depends.
Read MoreDo I Have To Probate If There Was A Will?
I have addressed in another blog several steps that can be taken as part of the estate planning process that help avoid the need for probate. If those steps were not taken, a full probate still may not be needed.
Read MoreThe Average Cost Of A Determination Of Heirship Proceeding In Texas
A small estate affidavit will not always work, however. In some situations, you may need a determination of heirship. If you find yourself in this situation, make sure you have an experienced attorney to guide you through the steps involved. Otherwise, it is easy to feel overwhelmed by the process.
Read MoreWhen Is A Living Trust A Waste Of Money
One of my biggest pet peeves over the years has been the over-selling of living trust packages to folks doing their estate planning. There are definitely times when a living trust is a good estate planning tool. However, for many individuals a living trust is an unnecessary expense.
Read MoreWhat Is A Small Estate Affidavit Proceeding And What Does It Cost?
In this series of blogs, I am outlining various different types of probates or probate alternatives to settle an estate and their likely costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed.
Read MoreWhen Can You Do A Small Estate Affidavit Procedure In Texas?
Frequently, people whose loved one dies without a Will fail to take any action to transfer property because they dont think the estate is large enough to mess with. This leaves loose ends that must be dealt with years later, when finding the people necessary to legally make the transfer is much harder. To avoid this result, the State of Texas allows the heirs to legally transfer assets at very little expense through a procedure called a Small Estate Affidavit.
Read MoreCOVID-19 Pandemic Reminds People They Are Mortal: Estate Planning Is Really Important Now
If you've listened to the news over the last two months, you've learned that the COVID-19 virus can strike just about anyone just about any time, regardless of how careful you are or how healthy you are. The initial presumption that COVID-19 was only a serious concern for elderly, otherwise health-compromised people has proven untrue. Because of that, I have received lots of calls from clients of all ages who suddenly realized it might be time for them to look at doing their estate planning.
Read MoreWhat Is A Muniment Of Title Probate, And When Is It Appropriate?
Texas law provides for a shortened, less complicated, less expensive form of probate in specific circumstances called probate as a muniment of title. This funny-sounding procedure really means that your loved ones will is officially recognized as valid by the probate court and placed of public record as notice to third parties to honor the terms of the will for transfer of property. This is a very simple process compared to a full, regular probate.
Read MoreWhat Is The Cost Of A Simple Estate Planning Package
People frequently delay drawing up a will or other pieces of an estate plan because of concern for the cost. However, the cost of preparing a simple estate plan package is very reasonable. Compared to the expense to handle your estate without a will or other estate planning documents, it is a bargain.
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