Estate planning includes The Last Will and Testament and any other plans for asset distribution following your death.
When R&B legend Aretha Franklin died, her fans and music lovers around the world were wondering why her funeral was delayed for weeks. Unfortunately, Franklin did not leave a will, and her four sons were left to determine how her assets and property would be allocated. An important component of a will is to have …
While you are creating your estate plan, you might be wondering what will happen to your digital legacy once you pass away. Your digital legacy includes all information related to your online accounts, blogs, social networking identities and digital files that will still be left on the web once you pass away. Many of these …
Have you prepared a living trust or a will? If not, then you are not alone. A Caring.com survey estimates that only 42 percent of American adults have put together their estate planning documents. This is pretty startling considering what can happen if your estate falls into probate. Take the case of famous Texas real …
In estate planning, a power of attorney is a written legal document that offers power and authority to another person over specific things on your behalf. It allows another person to “step into your shoes” with tasks that can be either very general or extremely specific. In order to be considered a power of attorney, …
A crucial part of your estate plan involves the distribution of your property and assets to your children. These instructions for your kids should be clearly laid out in your will or living trust, and so it’s important to know all of the components you should be including. What Are My Property Arrangement Options? – …
Death is an uncomfortable subject, but it’s an important one to talk about. It’s a given that everyone should have a legal document dictating the division of their assets upon death. But the question is, do you really need a will, or is there another option? There is – but it might not be for …
Having a will that successfully transfers your assets under Texas and federal law is the most important estate planning document you can have, and is very likely the only one you will need. However, a thorough and well-drafted estate plan will include several other documents covering every possibility or contingency, no matter how remote or …
Under the common law, whenever a beneficiary of a will predeceased the person making the will (known as the “testator”), the gift intended for the beneficiary in the will failed or “lapsed” and was given to the residuary beneficiary or beneficiaries of the testator’s estate, that is, those beneficiaries entitled to whatever was left in …
Property is often owned by two or more people simultaneously. This is referred to as a concurrent estate. Two of the most common forms of concurrent estates in Texas are joint tenancies and tenancies in common. These concurrent estates are similar, but have key distinctions which can have significant effects when it comes to issues …
Sometimes people die without having made a Will. A Will is a legal document, usually drafted by a Texas attorney, that states who will get the person’s property when he dies. If the person did not plan and prepare a Will, the person dies “intestate” and the Texas laws of intestacy determine who gets the …