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If a loved one made you the beneficiary of a trust, it’s wise to thoroughly review the terms of the trust as soon as you’re able to. Even if you already knew about it, it’s possible that your loved one made changes prior to their death. It’s also important to...
The process of settling a deceased person's estate (probate) can be complex under any circumstances, but when businesses are involved, additional challenges can arise. Here are three matters that can complicate probate when it intersects with business interests. 1....
Many people assume they have a right of inheritance when someone dies. Spouses, children and other immediate family members are the legal heirs who inherit from an estate if the deceased person does not have a will. People can also establish wills that name various...
A business sale marks a significant financial and personal life milestone. As such, it's a perfect time to reevaluate your estate plan. Selling a business interest brings newfound liquidity and notable changes in your financial situation. Your estate plan should...
If a loved one never got around to having a discussion about their will with you, you’re not alone. Many families are left to go hunting through desk drawers, cabinets, safe deposit boxes and more to find a loved one’s will after they die – without knowing for sure...
Being the personal representative (widely also known as the executor) of someone’s estate can be a tough and often thankless job. Whether you were named to the position by the deceased in their will or appointed by a probate court, it may feel like no one is happy...
A will is put under immense scrutiny in court to ensure that the legal document is a genuine expression of the testator’s intent. If something seems amiss with a will, then it’s possible for some parties, such as beneficiaries and heirs to challenge the contents or...
The personal representative of a Texas estate has numerous obligations. They must fulfill these obligations appropriately or risk personal liability for those oversights. Debts are often a major consideration during estate administration. The legitimate debts of the...
Texas probate proceedings oversee the distribution of someone's property and the resolution of their obligations after they die. Any resources that belong solely to the deceased party will become part of their estate. Their responsibilities, including their tax...
A business cannot be successful without the work and dedication of key individuals in the organization. Succession planning allows you to prepare for the unexpected loss of such individuals. The successor should be someone with the experience and skill necessary to...