Remarriage after a divorce or the death of a spouse is common. Sometimes, people marry substantially younger spouses. When that happens, the younger spouse is likely to outlive the older one. There may then be concerns about the estate plan left by the older spouse...
Serving as a trustee can place you in charge of assets that someone else set aside for family members or other beneficiaries. In that role, you are responsible for carrying out the instructions in the trust and handling those assets appropriately. If problems arise...
Many estate disputes revolve around items with sentimental value, such as family heirlooms. These disputes can be very complex for the beneficiaries, and communication and planning in advance can help to avoid them. There are many potential family heirlooms that could...
Losing a loved one is a traumatic time in a person’s life, but it’s one that also comes with new responsibilities. One of those is making sure that the decedent’s estate is handled properly, which means ensuring that debts are taken care of. When someone dies, their...
Beneficiaries or heirs expecting to inherit from an estate may need to monitor the actions of a personal representative. If they identify early warning signs of financial misconduct and breaches of fiduciary duty, they can avoid major losses that could significantly...
Administering a high-value estate in Texas is nearly always a complex and time-consuming process. Whether the estate includes oil and gas interests, business holdings or extensive real property, executors and beneficiaries often face legal, financial and logistical...
Executors have to complete various tasks when the person whose estate they will administer dies. One of the principal tasks, and one on which other tasks depend, is drawing up a list of all the deceased’s assets and debts. Failing to locate everything could cause...
Estate administration is far from the boring process many people imagine. Personal representatives often have to address a variety of surprising circumstances, such as the discovery of unexpected assets or debts. Other times, they may have to navigate conflict related...
It is certainly true that valuable assets can lead to estate disputes, and that’s often where people focus. For instance, someone may be leaving $1 million to their adult children, and they’re worried that the children are going to fight over what percentage of the...
When a person passes away, their estate has to be taken care of. This is known as the administration process and involves the distribution of assets. The decedent’s wishes and applicable laws must remain the focus. The creator of the estate plan determines who will...