The probate process in Texas can feel overwhelming and complicated for many family members and friends who have recently lost a loved one. In addition to dealing with the complex emotions surrounding the death, you may also be responsible for administering the estate which requires you to address the assets left behind and distribute them to beneficiaries.
When a person dies in Texas, probate is often required to settle the decedent's final affairs and distribute the estate's assets to beneficiaries and heirs. However, if the person died intestate – without a valid will or estate plan – the state's intestate succession laws will determine who would inherit the deceased person's assets and property.
Even though it’s a fact of life, there’s nothing simple or easy about watching a loved one enter old age. What can make this process frustrating—or even overwhelming—is if your loved one is suffering from a cognitive impairment such as dementia or Alzheimer’s. When this happens, the individual will become less and less capable of taking care of themselves and may be considered “legally incapacitated” in terms of making legal decisions about their healthcare, finances, or estate.
Going through probate can seem overwhelming and daunting, especially considering that you may encounter a number of terms that you have never heard before. For this reason, understanding the meaning of probate terms can make the process more straightforward.
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.
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.
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.
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.
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.
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.