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When a Texas resident dies without a will, state laws govern the division of that person's estate property. A family member starts the process by filing a petition for probate with the clerk in the county where the person lives. Review the factors that govern the...
There are two basic types of trusts, a revocable trust and an irrevocable trust. Many people choose to set up a revocable trust since they retain a lot of control. They can change who serves as trustee, alter the terms of the trust and even abolish the trust...
In a few years, your parents plan to retire. You look forward to them relaxing and enjoying their golden years in Texas, but you also want to help them take care of themselves. Do you know how to talk to your parents about their estate? MarketWatch offers insights...
Texas residents like you work hard on your estate. It thus makes sense to work hard on your estate plan, too. This ensures a seamless transfer of your assets and property to your beneficiaries after your death. But to ensure this, you cannot just create an estate...
If you live in Texas, you may be aware that the state does not impose inheritance or estate tax. However, your estate may still be subject to federal estate taxes. Review the federal laws regarding estate taxes to understand how they may affect your family members...
When planning your estate in Texas, you have many tools at your disposal: Wills, trusts, transfer on death deeds and designated beneficiary plans are just a few in your arsenal. Another versatile tool is the Lady Bird Deed. Lady Bird Deeds, or more formally, Enhanced...
A prenuptial agreement can give you and your spouse peace of mind as you begin your life as a married couple. In the event you decide to end your marriage, your prenup can resolve many financial conflicts before they have a chance to arise. In drafting your agreement,...
Thinking about dying before your children grow up is not necessarily pleasant. However, as a new parent, you need to create an estate plan to protect your children in the event you and your spouse die unexpectedly. When planning for a future you are not a part of, it...
When working on an estate plan, you must address complicated family issues to limit family tension as much as possible. According to Forbes, sibling arguments, hostile relatives and spendthrift heirs can create a challenge for high-net-worth households. Every family...
Like other parents with young children, you may worry what will happen if you and your spouse die unexpectedly. At the moment, your children may be too young to handle coming into wealth and property. This problem is why some young families set up a testamentary trust...
