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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.

Texas law provides for a shortened, less complicated, less expensive form of probate in specific circumstances. This is called probate as a muniment of title. It is a simple process compared to a full, regular probate.

Probate can be overwhelming and costly. Fortunately, a Lady Bird Deed or Transfer on Death Deed, joint tenancy with right of survivorship ownership, and a payable-on-death designation can help you pass on assets at death without the necessity of probate. By proactively drawing up one of these estate planning tools, you can save all parties money, time, and stress.

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.

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.

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.

People frequently delay drawing up a Will or other pieces of an estate plan because of concern for the cost. However, the cost of preparing a simple estate plan package is very reasonable. Compared to the expense of handling your estate without a Will, it's a bargain.

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.

If your loved one died without a Will, a Small Estate Affidavit may allow you to skip a more complicated and expensive probate proceeding. There are specific legal requirements that must be met before a Small Estate Affidavit can be used, and it does still have a cost. Nevertheless, it is the easiest and least expensive court proceeding for transferring assets to heirs when there is no Will.

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.