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.
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.
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.
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.
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.
When a person dies in Texas, their will – if available – and the estate must pass through the probate process to administer the decedent's estate and settle their final affairs. During probate, the deceased person's assets are collected and evaluated, debts and taxes are paid, and the remaining assets are distributed to the rightful inheritors.
Probate is the process of administering the estate and settling the affairs of someone who has recently passed away. If that person leaves a will, the will generally designates someone to be the personal representative of the deceased. The probate court will then name the personal representative to be the executor of the estate.
As we get older, our lives become increasingly complicated. We start new careers, get married, have children, and start building our family’s legacy. A big part of this involves planning for the future, and there’s no better way to do this than with an estate plan.