Blog

When researching potential attorneys for your case, always do your homework. Choosing an unqualified or dishonest attorney could not only result in a negative outcome for your legal situation, but it could also cost you more money in the long run.

An important component of an estate plan is a statutory durable power of attorney, otherwise called a general power of attorney. This power of attorney allows you to name an agent to carry on business-type activities on your behalf if, for any reason, you are not able to do so yourself. Essentially, it helps you avoid needing a guardianship, which can be a costly and complicated process. You should not procrastinate this critical estate planning tool, as you never know what the future has in store.

An independent administration is the form of probate available when a Will contains the proper legal provisions authorizing the independent administration of the estate. This means you can avoid extensive court supervision of the handling of the estate once the will has been admitted to probate. This procedure will need to be used to settle an estate with a Will where the muniment of title approach cannot be used because of outstanding debts.

Families frequently come to me needing to know how to figure out who gets what when a loved one dies without a will. Unfortunately, the answer is that they may be in for a lot of expense and time in a very complicated legal proceeding. A judge will need to determine who will receive portions of the estate, either using an Affidavit of Heirship or an Application for Determination of Heirship.

In this series of blogs, I have outlined various different types of probates and probate alternatives to help you settle an estate and understand the potential costs. A dependent administration is significantly more expensive than any other type of probate. Wise estate planning could avoid this high cost.

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.

An Affidavit of Heirship may be used where there is no Will, and even if there is a Will, if you can determine a third party will accept it to transfer the assets of the estate. The affidavit sets out the family history of the decedent fully enough to determine, under the Texas laws of inheritance, who would be entitled to receive the estate. The cost will depend on several factors but typically is less than $1,000.

Guardianships are a complicated legal proceeding, but the right attorney can guide you through the process and improve your peace of mind. The key to finding the best attorney for your family is to research your options ahead of time, consider their communication style and personality, and discuss their fee structure to ensure nothing takes you by surprise.

A prenuptial or postnuptial agreement can be an element in an effective financial plan or an estate plan. The expense will depend totally on the situation, and may not be nearly as large as you might think. The main factors influencing cost are your assets, the conditions to be set in the agreement, whether family members agree with the decision, and the follow-up steps you'll need to take after the agreement is drawn up.

A common misconception about prenuptial and postnuptial agreements is that they are only desired by wealthy, greedy individuals. Truthfully, many couples benefit from having such an agreement in place. A prenuptial agreement (prenup) is entered into before marriage. A postnup can be drawn up at any time during the marriage. Both act as an outline of how property and finances will be dealt with during your marriage and when the marriage ends, either by divorce or death.