It's a common perception that estate plans are exclusively for the wealthy. But if you own any assets at all — a home, a car, savings or retirement accounts, for example — or you have loved ones who depend on you, you need an estate plan. An estate plan can do much more than m...
When a Texas estate is in probate, the probate court appoints an executor to oversee the administration of the estate. If there was a will, the testator (person writing the will) typically names the executor whenestate planning. If the testator did not have a will, the court appoints an a...
What Is Estate Planning? Everything You Need to Know What Is a Settlor of a Trust? What Does the Executor of a Will Get Paid? What Does Per Stirpes Mean in Estate Planning? Using an Intentionally Defective Grantor Trust to Protect Your Assets ...
Executor or Administrator of the Estate If the decedent died with a will, the will likely names an executor. The executor is the person who is responsible for administering the estate. The executor will need to open the probate case. Even though the will designates that person, he may still...
Lastly, appoint an executor. The executor administers the estate and ensures your wishes are carried out. Choose someone you expect to outlive you, and get their permission before naming them in the will. Once you’ve made your will, take steps to make it legal. That usually involves signin...
There isn’t a handbook on what to do when you become an executor of an estate. This can become quickly overwhelming for anyone. We’ve designed Probate Butler to be your personal assistant and help you through this sometimes burdensome process by putting vetted experts in your area in one...
I’m the executor of the estate of a deceased shareholder. Do I have to go to the closing? Yes. As a fiduciary, you can’t delegate your authority to another person to attend the closing as your “attorney in fact”. Sometimes, if the parties are cooperative and there is no bank inv...
You'll need to name a still-living person as theexecutorof the estate. That person, often a spouse, adult child, or another trusted friend or relative, is responsible for administering the estate. You can also name joint executors, such as your spouse or partner and your attorney. The pro...
Your estate administrator or executor will be in charge of administering your will when you die. It is important that you select an individual who is responsible and competent to make decisions. Your spouse is not necessarily the best choice. Think about how the emotions related to your death ...
If this amount isn't enough to cover the cost of a consultation with an estate lawyer, walk away. Even if it is twice as much as the retainer, walking away may still be the better course of action as some of the worst estate fights cost more in legal fees than the inheritance itself...