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Recent Blog Posts
Common Mistakes Made During the Probate Process in Texas
Estate planning is designed so that once someone dies, their family members and loved ones will know what to do with the deceased person's property, heirlooms they may have possessed, and other wishes they had. When someone dies with a will, they typically assign a loved one to be the executor of the will. If the loved one dies without a will, a family member may step forward and ask to be the estate executor. The executor's role is to ensure the deceased person's estate is managed correctly.
Probate is when the court officially recognizes someone's death and authorizes the management and allocation of whatever their estate contains. Probate aims to ensure that all assets in the deceased person's name are transferred to the living individuals named in the will, or, if there is no will, that their assets are distributed according to state inheritance law. If you were named executor of an estate and wish to begin the probate process, you should hire an experienced attorney familiar with the probate process. Failure to hire a competent attorney to help you work through the probate process may result in critical errors.
What Are the Steps in the Texas Probate Process?
When someone passes away, there are several matters related to the property they owned, assets they possessed, and other final wishes the person had that will need to be taken care of. These types of matters are usually handled by whoever was chosen as the executor of the estate. If the deceased created a will before they passed away, the document likely contains the relative named as the executor. Sometimes, when a person passes away without a will, a relative may ask to be designated administrator of the estate.
Moving forward with the process, the person chosen as executor or estate administrator will need to complete the probate process. Probate is a process where a court lawfully recognizes someone's death and authorizes the management and distribution of their estate. Ultimately, the goal of probate is to appropriately transfer any assets out of a deceased individual's name into the names of the living. In the event you were named as an executor or wish to serve as the estate administrator, an attorney experienced in estate and probate litigation can help you properly address the issues at hand.
What is a Special Needs Trust, and Why Are They Important?
The idea behind estate planning is to put your family in the best possible situation by planning for future events. What will happen to my family when I am no longer here? is a challenging but essential question to ask yourself as you seek to grant your family peace of mind by preparing for whatever may happen.
The needs of families can differ, as can the needs of individual family members. For example, suppose you have a family member with a physical or mental disability who is dependent on you or other family members. Depending on their level of disability, you may be concerned about their inability to care for themselves independently. You may be interested in securing their physical and financial well-being after you pass away. In that case, it is wise to speak with an experienced attorney knowledgeable in special needs trusts, which can grant you the peace of mind that your loved one will be taken care of in the future.
Living Wills and Other End of Life Legal Options
So many things in life are completely out of our control. The estate planning process aims to give back some of this control to people and their families when the inevitable or unpredictable happens. Estate planning can address issues associated with money and property. To ensure their family is adequately provided for in the event of their death, many people create a will, laying out the deceased person’s wishes for when they are no longer living.
While most people have likely heard of a will, they may not have heard of a living will. Essentially, a living will is a document of medical instructions that allows you to determine, while you are still alive, what medical decisions you would like administered or withheld in the event you become medically incapacitated. If you believe you or your loved one may benefit from creating a living, it may be wise for you to contact an experienced attorney knowledgeable in estate planning.
Who Should Have Powers of Attorney Ready?
Powers of attorney can be powerful tools for self-protection during your own lifetime. Should you ever find yourself in a situation where you are not capable of making decisions for yourself or managing your estate, you would likely want to be able to choose the person who should step in and begin managing your affairs. Many people think of powers of attorney as being important mainly for older adults who are likely to suffer mental deterioration due to the effects of aging and aging-related illnesses such as dementia. However, senior adults are not the only group of people who should have powers of attorney in place.
Our team has seen many, many situations where a seemingly young and healthy person is involved in an emergency and needs another person to make medical decisions or get their bills paid on time. Serious accidents can happen to anyone, anywhere, at any time. With powers of attorney in place, you can be ready for any surprises life may throw your way.
Who Can Make a Will in Texas and How to Execute One
Creating a will is often seen as the most basic form of estate planning. While an increasing number of people choose trusts over wills, these documents still have important uses for many individuals. Smaller estates may be passed entirely through wills in some instances. Texas state law sets out a few basic requirements that must be met in order for a will to be considered valid and enforced during probate. Some requirements relate to who the testator is, while others proscribe a very specific method of will execution.
In general, most adults will be able to create a will in Texas. There are limitations based on the testator’s competency, however. This is one reason why middle-aged and even young adults should consider creating a will now rather than waiting until they are older adults at risk for age-related mental deterioration. It is also highly advisable to execute a will only under the direct supervision of a qualified lawyer.
How to Arrange Care for a Pet in Your Estate Plan
Many people share a strong bond with their pets. Companion animals can be a wonderful source of comfort to their owners. If you have a dear pet who could potentially outlive you, you may be comforted to know that there is a way to provide for the ongoing care of your pet using your estate plan. Trusts for the care of an animal are explicitly authorized in Texas’s trust code. There are requirements governing the use of pet trusts. For example, the animal provided for must be alive during the grantor’s lifetime. A trust to care for your dog would likely be permitted, but a trust caring for all future descendants of your dog would likely not be enforced. If you are interested in using a trust for the care of an animal to provide for your pet should they outlive you, it is best to work with a skilled attorney. Pet trusts can be complex as can any other form of trust.
What You Should Know About Trusts for the Care of an Animal
Unlike a trust designed to care for a person’s human loved ones, which may be administered for decades after the settlor has passed away, pet trusts are frequently of a more temporary nature. Most pets do not live longer than ten to twenty years in total. There are of course exceptions - some bird species have a usual lifespan on par with humans. However, for animals with shorter lifespans, the trust need not be a particularly long-lasting one. Pet trusts automatically terminate upon the cared-for animal’s passing. It may be prudent to include a clause governing what should happen to any remaining trust funds.
3 Essential Asset Protection Strategies in Estate Planning
When you are planning how your estate property is to be distributed one day, you likely want the entirety of your estate passed on to your loved ones rather than being diminished by fees and costs. Mistakes during the estate planning process can lead to the loss of estate funds and property, affecting what will be available for your beneficiaries. There are a number of estate planning strategies geared around asset protection. Everything from the type of testamentary instrument you use to the wording of a trust can have a significant impact on your estate’s asset retention.
Asset protection may be of particular importance for those with more complex assets they are seeking to pass on, such as ownership interest in a company. It is wise to work with an experienced attorney who can help you to utilize every available asset protection tactic during the estate planning process.
Ways to Preserve Estate Property
There are a variety of tools available in estate planning that can help you and your future beneficiaries make the most of the assets you have built up throughout your lifetime. Asset protection strategies used in estate planning may include:
Why Young Adults Need Estate Plans Too
Estate planning is often thought of as a task for the sick and the elderly - those who reasonably anticipate that their life will draw to a close in the relatively near future. Those with great-grandchildren are meant to make out their wills. A father diagnosed with late-stage cancer should create a trust. Those who are of an age to be concerned with Alzheimer’s and other age-related impairments of the mind need powers of attorney and health care advance directives.
While it is true that the aforementioned groups should create estate plans with haste, it is also important for young adults to undertake the task. Little can be predicted in life. Even those who are young, unmarried, and with no descendants would be wise to create an estate plan to cope with the contingencies of life. If you are interested in making an estate plan, an attorney can aid you in preparing the documents your plan should be comprised of.
When Should a Successor Trustee Seek Legal Assistance?
The duties of a successor trustee can be complex and varied. Depending on the nature of the instructions left by the grantor, a successor trustee may have significant discretion in distributing trust funds, or none at all. Despite holding the instructions of a now-deceased grantor sacred, a series of difficulties may arise for the successor trustee. Situations may arise frustrating the purpose of a trust or rendering its continued administration impracticable. Successor trustees, even professionals, may encounter situations that are legally complex and require a high level of skill and commitment. Beneficiaries, or those who were not named as beneficiaries, may not be amenable to the successor trustee’s handling of the trust. Legal challenges may be brought. A majority of fiduciaries tasked with managing another’s trust for the benefit of the grantor’s selected beneficiaries may benefit from legal assistance at some point in the execution of their duties.
14603 Huebner Rd., Bldg. 32, San Antonio, TX 78230
210-535-0870
