Trusts are powerful estate planning tools. They come in various types to allow people to address a variety of challenging circumstances. Trusts can help protect assets from creditors, limit the use of inherited resources and shield people from collection activity and...
Estate Planning
What is the responsibility of the executor?
A will is a legal instrument that allows the testator to instruct how their estate should be handled after they pass away. It is the job of the executor to carry out these instructions. An executor is named in the will and is often someone close to the testator, such...
What is the difference between a fixed and a discretionary trust?
A trust is a legal arrangement in which an individual, referred to as the grantor, transfers their assets into a trust managed by a trustee for the benefit of designated beneficiaries. The primary purpose of a trust is to provide a structured and efficient way to...
4 reasons people disinherit loved ones
A testator (someone who makes a will) can change their mind about their beneficiaries regarding different matters, including preventing them from receiving property from the estate. Disinheriting a loved one can be complicated but necessary in certain instances. ...
3 estate plan points to consider if you have minor children
All adults should have an estate plan, so their loved ones know exactly what to do when something happens. When minor children are involved, it’s even more important to have everything in order. There are some special considerations that you have to think about when...
Estate planning before deployment
Heading off on a military deployment requires plenty of preparation, but not just that of physical and tactical gear. One of the most important of these preparations is getting an estate plan in place. For those in the military, estate planning becomes less about age...
What is a spendthrift trust?
When you are in the process of creating your will and naming your child as a beneficiary, you may have concerns about their poor spending habits. Setting up a spendthrift trust ensures that your child will have financial security for years to come. According to the...
Can the executor of a Texas estate be paid?
When you’re making your estate plans, choosing who to name as the executor of your estate can be tough. After all, you’re asking someone you love and trust to take on a very big responsibility – and it’s not an easy job. The executor of your estate will have a large...
How often do people update their estate plans?
Estate planning is a process that allows people to instruct how their assets are handled after they pass away. Notably, most estate plans include a will that names their heirs, divides their assets and puts an executor in charge of the probate process. Many people...
Who can be the executor of your estate in Texas?
There are all kinds of decisions you have to make when you put your estate plan in place. One of the most important is who will be your estate’s executor (also known as the personal representative). The executor of your estate is responsible for everything from filing...