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Posts tagged "heirs"

Estate planning assures one's wishes for asset distribution

In Texas and elsewhere, estate planning gives a person the ability to designate the details of how his or her assets will be distributed, both during life and after the person's death. If estate planning is not implemented during the person's lifetime, then the laws of the state of residence will govern the details of distribution. The state intestate statutes will specify the persons to whom distribution is to be made and the percentages due to each category of statutory heirs.

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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