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The time to seriously review all of a loved one's financial and estate planning affairs is in the early stages of Dementia or Alzheimer's. Progression of the degree of incapacity varies from person to person. A visit to a physician for a diagnosis and treatment plan should be your first priority. A visit to an attorney should be next.

When heirs disagree about the terms of a Will, they may choose to contest it. This is an expensive and stressful process. Fortunately, a family settlement agreement allows you to avoid the contested probate process if all beneficiaries agree with how the estate should be distributed. The process is quicker, simpler, and more affordable than contesting a Will.

If you are considering starting a small business, you're most likely trying to sort out the different types of businesses and trying to decide which type is best for you. There are 6 entity types in Texas: sole proprietorships, corporations, s-corporations, limited liability companies, professional corporations, and partnerships. The right type for your situation will depend on your taxes, liability, and ability to control the profits and losses of the business.

Two terms are used in the state of Texas to describe a deed that automatically transfers title to real estate you own on your death a transfer on death deed and a Lady Bird Deed. The distinction between these two deeds is subtle, but very important. A transfer on death deed requires all beneficiaries to agree to changes made to your estate, even while you're still alive. A Lady Bird Deed gives you the freedom to make changes without the beneficiaries consent. However, it must be drawn up in a specific way to be considered valid in the state of Texas.

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.

A temporary guardianship gives the guardian the immediate legal right to make choices about things like health care, education, finances, and living arrangements of the Ward–but only as long as is needed for the protection of the Ward. For this process, you will need to provide substantial evidence proving that 1) the proposed Ward is incapacitated, and 2) the Ward needs a guardian immediately to care for their person, estate, or both.

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.

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.