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Why 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 MoreCaution: Be Sure You Have Designated Primary & Successor Beneficiaries
Have you selected successor beneficiaries on your life insurance, retirement accounts, investments, and bank accounts? Now is a good time to double-check. Choosing a successor (or secondary) beneficiary allows you to take steps to ensure your assets are distributed according to your wishes, whatever the future may hold.
Read MoreHow To Find The Right Estate Planning Attorney In Texas
The right estate planning attorney will have the skills to handle your legal needs and a personality that puts you at ease. By taking the time to evaluate their experience, communication style, and approach to your case, you can choose a partner who will help you draw up an estate plan that perfectly fits your needs and wishes.
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.
Read MoreIt's Not Too Late For A 'Postnup' Agreement
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.
Read MoreDo You Have a Blended Family? Estate Planning is Critical for 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.
Read MoreDon’t Procrastinate On Estate Planning: The Pitfalls Of Waiting Too Long
Death is something none of us want to think about. But if you put off your estate planning, you won't be prepared for life's changes, face worst-case scenarios like needing guardianship, and could force your family to pay for an expensive probate process. It's always better to draw up your estate planning documents sooner than later.
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