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A Will is a key part of an estate plan to make provisions for who receives the property you own on your death, who will be in charge of distributing the property, and who you would like to serve as guardian and trustee if you have minor beneficiaries. Without a Will, the cost of applying Texas Law of Intestacy will be much higher for your family, and your estate may be distributed in ways that don't align with your wishes.

The thought of having to do a probate for a deceased loved one is often scary. Although the legal process can appear complicated, an experienced probate attorney can comfortably guide you through the process. There are 6 steps you will need to follow, including filing the Will, attending a hearing, sending a notice to creditors, and distributing your loved one's Assets according to the terms of the Will.

In some situations where a loved one passes away without a Will, you may need a determination of heirship in order to pass on their estate. 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.

Have you selected successor beneficiaries on your life insurance, retirement accounts, investments, and bank accounts? Now is a good time to double-check.

There are many reasons people put off creating a Will. However, this decision can cost your family a lot of money and heartache in the long run. It can also lead to your estate being distributed in ways that you would not want. Drawing up a Will provides a number of benefits, from allowing you to choose exactly how your estate will be distributed to providing for stepchildren or restricting the rights of the surviving spouse to change a joint plan for the distribution of assets.

Prenups may be beneficial to a couple marrying, whether or not they are rich and famous. They are not just a contingency plan for a possible divorce. In fact, prenups can be an important tool for your estate plan, particularly if you have children from a previous relationship or more property going into the marriage.

Preparing a Will is a smart, compassionate, financially wise, and easy thing to do. So, stop making excuses, and do it! Anyone who has been through settling an estate for a loved one who failed to make a Will can attest to how much they would have preferred the alternative.

When a loved one dies without a Will in Texas, you have three options: 1) if statutory requirements are met, a Small Estate Affidavit probate, 2) a formal court Determination of Heirship and estate administration, or 3) an informal Affidavit of Heirship document. These are the steps involved in these proceedings, as well as best practices to follow.

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.

If you have ever gone through a hospital admissions process, you've likely been asked if you have a living will (also known as a directive to physicians) and a medical power of attorney. Here are the main benefits of both—and why they're worth the investment.