The cornerstone of any estate plan is a Last Will and Testament. When you create your Will you will have to make a number of very important decisions. You may assume that all of these decisions relate to the division of your assets upon your death; however, there is another decision that must be made when you create your Will that is likely of more importance than you realize-the appointment of an executor. Unfortunately, most people give very little thought to the appointment of an executor … [Read more...] about What Is an Executor?
Probate
Debts of the Decedent: Texas Probate
Debts of the Decedent: Texas Probate from Steve P. Mendel An estate planning attorney is usually retained during probate to help ensure that the creditor notification, evaluation, and payment process is accomplished in full compliance with the probate laws of the State of Texas. Learn more about debts of the decedent Texas probate in this presentation. … [Read more...] about Debts of the Decedent: Texas Probate
The Texas Probate Process: What You Need to Know
The Texas Probate Process: What You Need to Know from Steve P. Mendel In formal probate or independent administration the executor or administrator will be responsible for Locating, inventorying, and valuing all of the estate assets at the beginning of the probate process. Learn more about Texas probate process in this presentation. … [Read more...] about The Texas Probate Process: What You Need to Know
Probate – Why Your Estate Plan Should Avoid It
While the primary goal of any estate plan is to determine who will receive your estate assets when you die, there are usually a number of secondary considerations that go into creating any estate plan. One of those goals is usually the avoidance of probate. Probate is the legal process that most estates must go through when someone dies. During the probate process, your estate assets will be inventoried and valued, your estate and personal bills will be paid, and eventually the remaining assets … [Read more...] about Probate – Why Your Estate Plan Should Avoid It
Why Your Choice of Executor Is So Important
When you finally sit down to create your estate plan, one of the first decisions you will likely make is choosing someone to be the executor of your Last Will and Testament. People often give this appointment very little thought because they fail to understand how important the position actually is. The executor of your estate is responsible for taking your entire estate through the probate process. Depending on the size and complexity of your estate, the probate process can last months, even … [Read more...] about Why Your Choice of Executor Is So Important
Reclaiming Copyrights
An Executor's duties consist in part of gathering all of the assets of an estate. Most of you probably know this. What you may not know is that part of doing that can consist of reclaiming copyrights that the deceased previously assigned to someone else. In 1976, Congress was concerned that artists were being taken advantage of and assigning the copyrights to their original works for far less than the copyrights were actually worth. In contrast to many things Congress does, there was actually … [Read more...] about Reclaiming Copyrights
Hitting a Fastball
Many things in life seem like they are easy to do until you actually try to do them. This is one of the reasons that people enjoy watching sports so much. They seem so easy, but anyone who has ever tried to play a sport knows that it is extremely difficult. It looks easy to hit a fastball, but step into the batter's box and you will find out just how difficult it is. It requires a certain skill set and training that most of us just do not have. This phenomenon is not unique to sports. Being an … [Read more...] about Hitting a Fastball
Do Not Miss Texas Probate Deadlines
The Texas Probate Courts are not known for being forgiving when litigants do not properly handle everything. In El Paso, the Will contest in the estate of actor Sherman Hemsley illustrates the unforgiving nature of Texas Probate Courts. Hemsley passed away with a Will that he had written approximately a month earlier. The Will designated that his entire estate should go to his "beloved partner." A Philadelphia man stepped forward to claim that he was Hemsley's long lost half-brother. He also … [Read more...] about Do Not Miss Texas Probate Deadlines
An Attorney for the Executor
When people find out that they have been named as an Executor in a recently deceased family member's Will, they have many questions about what they should do. Most people do not have a lot of experience administering estates and they need to discover what their responsibilities and duties are. This can lead many people to seek information online. Unfortunately, as in almost every other area of knowledge, there is a lot of bad information online. What Executors should do is to schedule an … [Read more...] about An Attorney for the Executor
Credit Card Debt
Everyone knows that Americans have generally racked up a bunch of credit card debt that needs to be paid at some point. However, many people wonder about what will happen to that credit card debt when they pass away and whether the debt needs to be paid at all if the debtor dies. The answer can actually get very complicated. The bottom line is that when the person who owes the credit card debt passes away, the estate is supposed to pay the debt before distributing any assets to the heirs. … [Read more...] about Credit Card Debt
