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Has a loved one passed away without a Will? In some cases, you can avoid a lot of frustration by using a Small Estate Affidavit to legally transfer assets at very little expense to you.

Estate planning is especially important for people with blended families in the state of Texas. Without a Will, probate issues can be complicated and the result may not be what the deceased person might have wanted. If you have a blended family, here's how to provide for your estate to pass as you desire.

Even if you are married, it’s not too late to outline how your property will be classified, how your joint finances will be handled, and how you will support children from prior marriages. Find out how to set up a postnup agreement for your estate planning.

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.

If an attorney handles incorporation for you, he or she should take all of the steps necessary to set you up to go forward conducting business according to sound legal requirements to preserve the protection that is a primary goal of incorporation. This would include filing a certificate of formation with the secretary of state, drawing up initial bylaws or operating agreement (for a LLC), drawing up minutes of the organizational meeting, issuing stock or membership interests (for a LLC), and providing forms for minutes on an ongoing basis.

Pre-planning is necessary to avoid needing a guardianship. People live much longer these days, and Dementia and Alzheimers are a common issue families face with loved ones or themselves. Pre-planning to deal with incapacity is very smart.

I am frequently asked by prospective estate planning clients, "Do I need a trust?" The answer is the classic one: It depends. They are not a one-size-fits-all solution. Whether setting up a living trust is a good idea for you should be discussed with an estate planning attorney who has full knowledge of your assets, family circumstances, and desires.

Estate planning isn't just for rich or older individuals. Even young, asset-poor 20-somethings should start thinking about how their property will be distributed in the event of a tragedy. Drawing up an estate plan is not as much an action you need to take for yourself but one you should take for your loved ones.

It is a common misconception that prenuptial agreements are only for the rich and famous. The truth is, a prenup can benefit couples in a number of situations, even for us common folk.

A sole proprietorship is a business operated by one individual (or a couple). The business is considered an extension of the individual (or couple), not a separate entity. The business profits and losses are included on the individual's personal tax return, and the individual retains personal liability for the business debts and lawsuits.