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7 Common Mistakes People Make After A Loved One Passes Away
Even well-meaning people can make mistakes. Under the pressure of grief, it’s no surprise that many people make choices during this difficult time that complicate the probate process and cause more trouble and expense in the long run.
Read More3 Reasons You May Need A Guardianship
Guardianships are a complicated legal proceeding. Most people have no clue exactly how complicated and expensive they are. In some situations, however, a guardianship is required to manage the affairs of a loved one. This typically includes a loved one becoming incompetent, a minor child losing both parents, and an individual functioning with diminished capacity in some way.
Read MoreTop 10 Reasons You Need A Will
People put off creating a Will for many reasons. 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.
Read MoreWhy You Should Consider Prenups As Part Of Your Estate Plan
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.
Read MoreTips To Foreclose On A Real Estate Lien
Lien foreclosure gives you a process to recover some or all of the money still owed you. Unfortunately, you are going to have to deal with very complicated, tricky legal foreclosure steps to get there. When you are faced with foreclosing on your lien, you will need to get an attorney, follow their advice closely, be patient, and be prepared to resell the property if needed.
Read MoreWhy You Need A Living Will And Medical Power Of Attorney
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.
Read MoreHow Soon Must A Will Be Probated After A Death? [Probate Q&A Video Series]
How soon must a Will be probated after death? In Texas, generally a Will must be filed within four years after the date of the death, but I encourage you to do it sooner rather than later. Neglecting to probate the Will can leave you in a more painful situation in the long run.
Read MoreHow Long Does The Probate Process Take? [Probate Q&A Video Series]
A widely-held belief about probate is that it is long and expensive. That is often not the case. How long it will take and how much it will cost depend on a number of factors. In most cases, it is not a lengthy or horribly expensive process.
Read MoreEstate Planning Is Not Just For Old People: The Benefits Of Early Estate Planning
It's all too common for parents to put off estate planning to protect the settlement of their estates for the loved ones left behind because they don't believe they are old enough to think about it yet. Unfortunately, this is not always the case. Estate planning is even more necessary for young parents, as it allows them to choose a guardian for their children and set the terms for when their estate will be divided, should the unthinkable happen.
Read MoreWhat Do I Do If A Loved One Dies Without A Will?
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.
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