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Posts tagged "probate"

A revocable living trust can avoid probate and minimize taxes

The decision whether to have some or all of your estate pass by living revocable trusts under Texas law is one that should be made in consultation with an estate attorney or other qualified professional. Remember that each situation must be evaluated on its own facts. If avoiding probate is a goal that will benefit you and preserve your assets the best, then a revocable living trust should be included in the estate plan.

Sibling rivalry can emerge in the estate administration process

In Texas and elsewhere similar familial dramas tend to play out in a small percentage of estates. When an individual dies, the estate administration process is commenced and administered by the personal representative, who is usually a child or other close relative appointed in the will. The representative, or executor of the will, is charged with paying the bills, collecting the assets, making all government filings and tax returns, and ultimately distributing the assets according to the will.

Estate administration: All legal procedures must be completed

In Texas and other states it’s not uncommon for the beneficiaries of a deceased family member to ask the attorney handling the estate when the estate will be finalized. In fact, legal experts say that it’s normal for beneficiaries to ask the attorney to explain the process of estate administration and for a ballpark estimate on time. Having a communicating relationship with counsel and the executor is a wise thing to do.

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