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If you’re thinking about making an estate plan this year, you may believe you’re in the minority when it comes to estate planning. You might assume that most people have already done theirs, and so you feel like you’re falling behind. It’s important to make an estate...
Estate administration is a largely thankless endeavor. The personal representative of an estate must manage assets, communicate with a variety of different parties and follow the instructions provided by the recently deceased individual. They may spend a year or...
If you’re planning to divorce or have already begun the process, don’t forget about your estate plan. If you don’t have one, you should start thinking about it, but for now, we’ll focus on what parts of the plan can be changed prior to the final divorce decree and...
If you are worried about how your descendants will use their inheritance, you are not alone. Many people are concerned about their beneficiaries’ spending habits. You may have a beneficiary who just constantly makes unnecessary purchases or who tends to rack up a lot...
Young parents often realize that they need to make an estate plan because their family has suddenly expanded and they don’t know what would happen if they passed away unexpectedly. Who would take care of their child? How will assets get transferred to the next...
A will is the starting point of any estate plan. This legal document expresses the final wishes of the testator in terms of how assets should be distributed upon their death. A will can also be utilized to name guardians for minor children. Nonetheless, the...
If you die intestate (without a will) in Texas, then the court will distribute your assets according to intestate laws. The problem with this is that your assets may not be distributed according to your preferences. A will allows you to put your final wishes into...
Creating an estate plan is crucial for ensuring that your assets are distributed according to your wishes after you pass away. Unfortunately, many people make mistakes during this process that can lead to complications or unintended negative consequences for their...
Naturally, while doing your estate planning, you’re probably going to focus on your most expensive assets. You may start the plan by determining how you want to divide up your savings, your investments, your marital home and other big ticket items. You can then work...
Becoming a parent is exciting and simultaneously terrifying. Children cannot handle much on their own and depend on their parents for everything from housing and nutrition to health care decisions. Parents generally expect to spend roughly two decades, often...