People may leave holographic wills rather than documents drafted by a lawyer for a number of reasons. Some testators do not trust anyone else with their last wishes. Others may find themselves needing to plan in an emergency where they cannot access legal assistance....
Probate refers to the comprehensive management of a deceased individual's will or the estate of an individual who died intestate. An executor who is either named in the will or appointed by the court if there is no will oversees the process. This entails supervising...
An executor of an estate is responsible for accounting, which involves documenting the property, expenses, cash balance and other crucial details. Doing this helps them keep track of the assets they are managing and easily account for their activities. So, who can...
Families in Texas sometimes question the validity of a loved one’s estate plan. After someone dies, the contents of their will may seem far different than the preferences they expressed while alive. Some families reach the conclusion that an outside party may have...
An estate plan can establish several important relationships to help ensure the management of assets. A testator names an executor of the estate to manage and settle assets, including paying debts and taxes and contacting beneficiaries. A grantor can set up a trust,...
One common reason for estate disputes is when the distributions to the beneficiaries are not fair and even. These are known as unequal bequests. Some evidence suggests they are becoming more and more common, but they also increase the odds of a dispute. For instance,...
A person’s estate plan outlines their personalized instructions for what happens to their assets when they pass away. Most wills are made while the creator is sound of mind and body so they understand the implications of what they’re doing. There are instances in...
The distribution of assets often leads to disputes after someone passes away. Their estate plan should instruct beneficiaries and descendants, but some of them may decide to challenge that plan. For instance, a beneficiary may claim that an elderly parent was...
A no-contest clause, also known as the forfeiture clause, discourages beneficiaries from challenging the validity of a trust or will. It states that if a beneficiary contests such a document and loses, they forfeit or lose their inheritance. The presence of a...
Sibling rivalry may begin in childhood, but it doesn’t always end there. Many adults still have reservations regarding their siblings due to things that happened while they were growing up, or they still feel a sense of rivalry, as if the two of them are still in...