Even families that get along well can face conflict after a loved one dies if there’s no clear estate plan. This article explains why peaceful families still need proper planning, how vague or outdated documents can cause problems, and how tools like no-contest clauses and discretionary trusts can prevent disputes and protect inheritances.
This article shares four practical tips to help prevent disputes over your will or trust: avoid DIY estate planning, communicate your wishes with family, use discretionary trusts for high-risk beneficiaries, and keep your estate plan updated. With the right steps and professional guidance, you can protect your legacy and reduce the risk of costly legal challenges.
This article explores whether you should include an unborn child in your estate plan and how to do it wisely. It explains the pros and cons, highlights the importance of flexible language, and offers practical tips on naming guardians, using trusts, and avoiding overly complex plans. The key takeaway: plan for future children with broad, adaptable terms, and update your estate documents as life changes.
Dower rights, though rooted in centuries-old law, still impact estate planning in states like Kentucky, Ohio, and Arkansas. These rights give surviving spouses a legal claim to real estate, even if excluded from a will. While most states have replaced dower with modern protections like elective shares, dower laws can still cause conflict and confusion in blended families or second marriages. A thoughtful estate plan-using tools like trusts, joint ownership, and beneficiary designations-offers better protection and control than relying on outdated laws.
Choosing the right successor trustee in Texas is critical to ensuring your estate plan works as intended. A poor choice can lead to legal disputes, mismanagement, and family conflict. While many people name family members, a professional or corporate trustee may offer more reliability, neutrality, and expertise-especially in complex or blended family situations. Working with a Texas estate planning attorney helps you select the best trustee and build in safeguards like removal clauses to protect your legacy.
This article explores the best options for storing original estate planning documents like wills and trusts. It compares safe deposit boxes, home safes, attorney offices, and corporate trustees, outlining the pros and cons of each. It emphasizes the importance of making sure trusted individuals know where your documents are stored to avoid legal complications or delays after incapacity or death.
Estate planning isn't complete without addressing digital assets like online accounts, social media, and financial platforms. A digital estate plan ensures your loved ones can access and manage your online presence after your passing. Key steps include cataloging accounts, choosing a trusted digital executor, and providing clear access instructions. By working with an estate law attorney, you can seamlessly integrate digital assets into your estate plan, securing your physical and digital legacy.
Arbitration clauses in trusts can be enforceable under Texas law if drafted correctly. The Texas Supreme Court ruled in the A.F. Reitz Trust case that an arbitration provision in an inter vivos trust is binding on beneficiaries under the Texas Arbitration Act. This highlights the importance of consulting experienced estate planning attorneys to ensure arbitration clauses are enforceable and meet state legal standards. Properly written clauses can streamline dispute resolution and reduce court involvement.
Amending a living trust ensures it reflects life changes like marriage, divorce, or new beneficiaries. Minor updates can be made with simple amendments, while significant changes may require a trust restatement to replace the old document. Proper amendments must follow legal procedures, including signing and notarization, to remain valid. Working with a Texas estate planning attorney simplifies the process and ensures your trust aligns with Texas laws and your future goals.
Amending a living trust in Texas ensures it stays aligned with your current wishes, whether due to life changes, financial shifts, or updates in the law. The process involves reviewing your trust, identifying necessary changes, consulting an attorney, drafting the amendment, signing and notarizing it, and securely storing the updated document. While you can amend a trust on your own, working with a Texas living trust attorney ensures compliance with state laws, avoids costly mistakes, and provides peace of mind.
Picking the best living trust lawyer involves understanding your specific needs, researching local attorneys, and evaluating their qualifications, experience, and communication style. Focus on finding a specialized estate planning lawyer who listens to you, provides tailored advice, and has transparent pricing. By conducting consultations and comparing your options, you can make an informed decision and ensure your assets and loved ones are well-protected.
A living trust can own shares in an S Corporation, but it must comply with IRS requirements to maintain the S Corp’s tax benefits. Revocable living trusts can own S Corp shares during the grantor’s lifetime, but after their death, the trust must qualify as a Qualified Subchapter S Trust (QSST) or Electing Small Business Trust (ESBT). Proper planning is crucial, especially in Texas, where community property laws may affect ownership. Following the correct steps and avoiding common mistakes ensures both compliance and protection for your business and estate.
Preparing for college involves more than packing dorm essentials—estate planning is crucial. Once your child turns 18, you lose automatic access to their medical and financial decisions. Key documents like a FERPA release, HIPAA authorization, financial and medical powers of attorney, an advance directive, and a will ensure you can act in emergencies and respect their wishes. These tools provide peace of mind and protect your family during unforeseen situations.
Transferring property into a living trust in Texas is a smart way to avoid probate, protect your assets, and ensure your wishes are followed. The process involves preparing the trust with the help of an attorney, updating the property title through a new deed, recording it with the county clerk, and notifying your insurance provider and mortgage lender. Organizing all trust-related documents and keeping trustees informed ensures smooth management. Consulting a Texas estate planning attorney is crucial to avoid mistakes and guarantee the trust operates as intended.
A living trust in Texas is a powerful estate planning tool that protects assets, avoids probate, and ensures privacy. Setting one up involves identifying your goals, listing assets, drafting the trust with an attorney, transferring assets into the trust, and keeping it updated. Benefits include faster asset transfer, control over distributions, and potential tax advantages. Common mistakes, like failing to fund the trust or using DIY templates, can be avoided with professional guidance. While costs vary, the investment saves your family time and stress. Consulting an experienced attorney ensures your living trust meets your needs and complies with Texas laws.
Naming a guardian for your minor children ensures they are cared for by someone you trust if the unexpected happens. Without a named guardian, a judge—who doesn’t know your family—will decide, which could lead to undesirable outcomes, including foster care. Consider factors like the guardian’s relationship with your child, parenting style, values, location, and emotional readiness. Discuss the responsibility with potential candidates and plan for your child’s financial needs through life insurance or assets. While this decision can feel overwhelming, it’s a critical step in protecting your child’s future.
Turning 18 brings new legal responsibilities and independence, requiring you to make important decisions about your medical care, financial management, and assets. As an adult, you must authorize who can access your medical records, handle decisions if you're incapacitated, and manage your finances. Preparing documents like a HIPAA authorization, medical power of attorney, and durable financial power of attorney ensures your wishes are honored. Additionally, creating a will or trust lets you decide how to distribute your belongings. Meeting with an estate planning attorney can help you confidently navigate this new chapter.
Medicaid is an assistance program funded through both the federal and state governments and managed by the individual state. A recipient of Medicaid in one state, therefore, may find a difference in qualification requirements when they move to Texas. A Conroe eld...
Generally speaking, it is very difficult to successfully challenge a will. Only about 1% of wills become tied up in probate because of a legal challenge to their validity. Since the decedent is not alive to state his intentions regarding distribution of the estate, th...
Michael Jackson’s estate finalized a $600 million music rights sale to Sony after a lengthy legal battle. The case underscores the importance of proper estate planning, including having a valid will, funding trusts during one’s lifetime, and granting executors broad management powers. While Jackson’s estate included both a revocable trust and a pour-over will, the unfunded trust led to public probate disputes. The case offers valuable lessons on ensuring that an estate plan reflects personal wishes while minimizing legal challenges.
Managing a deceased person’s mail is an important part of settling their affairs. Start by notifying the post office, forwarding their mail, and registering them on the Deceased Do Not Contact List to reduce junk mail. Cancel subscriptions directly with organizations and return mail marked as “Deceased, Return to Sender” to stop future deliveries. Always handle mail legally, and seek professional help if you need assistance with estate administration.
Life insurance provides financial security for loved ones, offering tax-free payouts to cover expenses, replace income, and fund trusts. However, it’s essential to understand policy types, exclusions, and tax implications to ensure beneficiaries receive the intended benefits. Properly designating beneficiaries and integrating life insurance into an estate plan can prevent complications, cover debts or taxes, and provide peace of mind.
Estate planning and a will are not the same, but they complement each other. A will specifies who inherits your assets after death, while estate planning is a comprehensive strategy that includes a will, trusts, powers of attorney, and more to manage your assets during your life and after. Estate planning also addresses incapacity and helps avoid probate, saving time and money for your heirs. Together, they ensure your wishes are carried out and your loved ones are protected.
A living trust ensures your assets are managed and distributed according to your wishes after death while avoiding the delays and costs of probate. Upon passing, the trust becomes irrevocable, and the successor trustee steps in to handle debts, taxes, and asset distribution. This process keeps financial matters private and protects beneficiaries, especially in Texas. Working with an estate planning attorney ensures your trust is clear, legally compliant, and updated to meet your needs, offering peace of mind for you and your family.
Starting conversations about estate planning can feel awkward, but it’s a vital step to protect your family and ensure your wishes are followed. This article offers practical tips for approaching the topic, from choosing the right time and setting to addressing common concerns and misconceptions. It highlights the importance of creating a plan, Texas-specific legal considerations, and the value of working with an estate planning attorney. By starting the discussion early, you can provide clarity, avoid future disputes, and create peace of mind for everyone involved.