Searching the internet for information on the probate process can be overwhelming. If you aren’t an attorney, finding explanations that are easy to understand feels virtually impossible considering all of the probate terminology and legalese involved.
Like in many states, the probate process in Texas has it’s own nuances and particularities to navigate.
Contrary to popular belief, estate planning is not just about money or taxes. Far from it. Today, it’s more about protecting your assets for yourself and your loved ones, achieving your financial goals, and safeguarding your health care.
When your children were small, you no doubt endured the challenge of keeping peace in the family. We see this same scenario play out time after time among adult siblings when a messy estate causes family rifts.
We all care for our families, jobs, and dependents every day. But what are the things unique to your life? What are the things that, right now, only you can provide? What would happen if you aren’t around to manage those responsibilities unique to you, your family, or your particular circumstance?
Over the course of our lives it takes us years to acquire certain skills, experience, and characteristics that govern the kinds of responsibilities we each take on, and shape the way we handle those responsibilities. It’s these personal “assets” that make estate planning so important.
Take, for example, your long-living pets. For the most part, you can set up simple pet trusts or name guardians for common pets such as cats or dogs. But what about the not so common pets? Horses, turtles, or parrots?
Remember that old joke: How do you eat an elephant? Answer: One bite at a time. At the heart of that gag is the truth about how you tackle any seemingly complex task, taking it one step at a time so as not to overwhelm yourself.
Many people neglect to create an estate plan because they see it as the proverbial elephant…too big, too complex. But approaching estate planning in a systematic fashion will take the complexity right out of it! Especially with the help of an attorney who is experienced in navigating both the emotional and legal intricacies of estate planning.
Probate is the legal process through which a deceased person’s assets are distributed to the heirs or beneficiaries, pursuant to the wishes of the deceased person as stated in his or her estate plan – or if there is none, according to Texas Law.
Yes, that sounds like a handful. So let’s break it down. Texas Probate is a court-supervised process for identifying and gathering the assets of a person who has died (the “decedent”), paying their debts, and distributing their assets to his or her beneficiaries.
Part of the estate planning process is choosing who will serve as your representative in a number of different capacities. Your choice in representatives is just as important as your decisions on how your wealth will be distributed and who it will be distributed to.
From the moment you dash out of bed in the morning to the second you place your tired head back on your pillow at night, you pride yourself in being a great parent to your children — And you are! You’ve got an action plan for all the days’ happenings from preparing lunches to doctor visits, school projects and birthday parties.
It’s not a pleasant topic, we know. But although we cringe at the thought of planning for such misfortune and leaving our families behind, it lingers in our minds. The reality is that if you don’t make decisions now, someone else will make them for you.