A Lady Bird deed, also known as an enhanced life estate deed, is a useful tool for protecting your home in Texas. This type of deed allows you to transfer your property to a beneficiary while keeping control of it during your lifetime. It helps homeowners avoid...
Estate Planning
How can you handle debts during estate administration?
Settling an estate in Texas involves more than distributing assets. If you serve as the executor or administrator, you must handle outstanding debts to avoid legal complications. Identify and notify creditors First, identify the deceased person's debts. Request a copy...
What are the benefits of establishing a living trust in Texas?
Estate planning protects assets and ensures individuals’ wishes are carried out. A living trust offers one of the most versatile tools for managing and distributing assets in Texas. Understanding its benefits helps individuals make informed decisions. Avoid probate...
What is a pour-over will and how does it work?
A pour-over will serves as an important tool in estate planning, often used alongside a living trust. It directs any assets not already placed in a trust to transfer to it upon death. This type of will provides peace of mind by capturing any assets that someone might...
Can a beneficiary be an executor?
Many individuals choose to name a beneficiary as the executor of their will. Gaining a clear understanding of the roles and responsibilities involved can help determine if this arrangement is the right fit for your situation. The role of an executor The executor...
Is it better to give kids their inheritance while you’re alive?
Deciding whether to give kids their inheritance while you're alive or to wait until passing away is a significant financial decision that many parents face while planning their estate. This choice can have profound implications on both tax situations and family...
Specify your desired medical care in a living will
Estate planning goes beyond making a simple will. You should prepare for the possibility that someday you will be too infirm to communicate your healthcare wishes, or that a serious accident could incapacitate you. This is why many people create an advance medical...
Knowing when to revisit and update an estate plan
The estate planning process may offer numerous tools that could help you plan and prepare for a variety of scenarios in life. However, while the plan you create may align with your needs and goals for the future initially, there may be some scenarios in which your...
Can you name a guardian for minor children in your Texas will?
Planning for the well-being of your minor children is a key aspect of estate planning, and your Texas will serves as a powerful tool in this endeavor. By naming a guardian for your children within your will, you can establish a clear plan for their care in the event...
Using a will to protect your common-law partner’s financial future
Marriage plays a significant role in estate administration. Generally, a deceased’s surviving spouse automatically receives the former’s assets, even without a will, through intestate succession. Unfortunately, the same rule does not apply to common-law marriages....
