When a person dies, the decedent's assets and property are often distributed to rightful inheritors using the provisions of the will or the state's intestate succession laws. In some states, beneficiaries and heirs may be required to pay taxes on property, assets, or money received from a deceased loved one's estate.
Common Misconceptions About Probate
Unless you’ve had someone close to you die and been named the executor of their will, you likely won’t know a lot about the process of probate in Texas. However, it’s likely that you’ll have to take part in it at some point in your life, and it’s vital to understand some of the common misconceptions about probate and learn the truth behind them.
How to Create a Trust for Children with Substance Abuse Problems
Anyone who has children knows that as a parent, you spend a lot of your time worrying about your child’s health, safety, and overall happiness. This is true whether you have a baby, teenager, or adult-age son or daughter. You also know that you'll do anything to help your child no matter what they’re going through, and this includes serious issues with substance abuse. This comes up frequently with parents who want to pass down assets but are concerned about protecting the inheritance of children with a drug problem.
Are Heirs Responsible for Their Loved-One’s Debts?
Dealing with the death of a loved one is hard enough without having to worry about their financial obligations. However, understanding who is responsible for a deceased relative’s debts may help alleviate some stress during this time of grief.
Important Documents to Have in Place Before Dementia Sets In
Creating an estate plan allows a person to provide specific instructions in advance concerning how their estate, assets, and final affairs should be managed or settled after their demise. However, when a loved one has cognitive impairment or dementia, they may need help addressing estate planning matters. An experienced Texas estate planning attorney can inform you about some vital documents to put in place at the beginning stages of dementia.
Second Marriages & Estate Planning
Weddings always require a great deal of preparation. From the invitations to the cake, everything has to be perfect. However, it can be easy to overlook other critical preparations, such as an estate plan. Estate planning is critical, particularly when entering a second marriage.
FAQs: What Needs to Be Done When Someone Dies
No one is ever quite prepared for what to do when a loved one dies. In addition to dealing with your grief, you’ll also have to think of practical matters such as arranging the funeral, obtaining a death certificate, and executing the will. In times like this, it can be extremely helpful to work with an estate planning attorney to ensure you’re not only tying up the loose ends of your loved one’s life, but also following all pertinent state and local laws regarding their estate.
Dispelling Estate Planning Myths
With so many people sharing personal stories and news articles online, it can be difficult to know what’s a myth and what’s the truth. Rumors can cause real distress, so it is crucial to find out the truth before you act.
Estate Planning Checklist: Things to Know Before You Start
When you first start estate planning, you may be overwhelmed by all the choices in front of you. Admittedly, it can be hard to know what should happen with your assets and how you can best support your loved ones after you pass. Here's a checklist of topics to explore so you know what to consider before you start your estate plan.
My Parent Remarried. Will the New Spouse Inherit Everything?
Remarriage is a growing trend in Texas and across the United States. For many children, seeing their divorced or widowed parents find love once again and remarry is a thing of joy. At the same time, remarriage may also be a cause for concern.