The passing of a loved one often leaves surviving family feeling the emotional impacts for a substantial amount of time. While working through the process of grieving, many individuals often have to deal with legal proceedings surrounding estate administration. The actions necessary for administration may go smoothly if an estate plan was in place, but some confusion and complications could still arise.
Texas residents may be interested in the details surrounding the administration of late actress Carrie Fisher's estate. It was recently reported that the estate will go to Fisher's 24-year-old daughter, and only child, Billie Lourd. Assets considered part of the estate include bank accounts, a vehicle, a life insurance payout and business ownerships. Smaller personal items will also be inherited by the young actress.
It was noted that Fisher utilized a living trust in order to handle her assets and have her estate avoid probate. However, not all of her property was included in the trust at the time of her death. Attorneys for the estate hope to avoid potential probate complications by stating that Fisher intended those assets to be included in the trust.
Keeping trusts and other estate planning documents updated could help individuals ensure that their family members do not face unnecessary complications. Of course, if issues with estate administration do arise, Texas residents will certainly want to handle those concerns in the best manner possible. Conferring with seasoned legal professionals may allow concerned parties to better determine what courses of action may be needed to complete the administration process in a timely and successful manner.
Source: People, "Carrie Fisher's Final Assets Revealed, Billie Lourd Named Sole Beneficiary of the Estate", Mike Miller, July 7, 2017