To ensure that a will is valid, it must meet certain parameters. For instance, there must be a signature from the testator and two witnesses who do not stand to gain from the estate. Furthermore, any older drafts of a will should be destroyed or revoked. Another...
When people are going through a divorce, they often don’t give a lot of thought to the changes they’ll need to make to their will and other estate plan documents. The last thing they want to do is deal with more legal matters. Modifying their estate plan is often...
Trust administration plays a pivotal role in ensuring the seamless transfer of assets and property according to a settlor's wishes. It involves two key parties, including the trustee, who is responsible for overseeing the trust, and the beneficiaries, who stand to...
In theory, anyone who is a legal adult in Texas has the authority to draft their own estate plan. Texas assumes that adults have testamentary capacity and can therefore designate specific recipients for their assets using estate planning documents. However, not...
When a testator drafts their will, they can name an executor of their estate. The executor is responsible for settling an estate after the testator passes away. An executor can be nearly anyone; many people pick close family members to be their executors. ...
A last will and testament is a legal document that outlines an individual's wishes regarding the distribution of their assets and the care of any dependents after their demise. It typically includes details about beneficiaries, guardianship for minors and the executor...
In the coming years, in one way or another, we are all going to be part of the greatest wealth transfer in human history. It has been predicted that the Baby Boomer generation will begin passing assets down to their children and grandchildren that could total around...
A will is a written declaration of someone's last wishes. It describes what they want to do with their property after they die and names the person they choose to administer their estate. Typically, families in Texas will follow the instructions in someone's will as...
The will is a cornerstone of an estate plan. It outlines specific points, such as who should receive what assets when the creator passes away. Creators often take writing the will very seriously and likely have it set up how they want. While many wills go through the...
When a person creates an estate plan – even if it’s a simple will – they should name an executor (known under Texas law as a “personal representative”) to handle the administration of the estate. This includes everything from paying final bills and filing the last...