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FAQ: Estate Administration What is probate? executor is responsible for handling your estate once you’re gone, so it’s important to choose someone you trust This can cause problems if the courts choose someone you do not trust.

The Social Security Administration says that 53% of married couples and 74% of unmarried Americans count Talk to an experienced elder law attorney about your options, such as a Medicaid Trust.

A trust is another legal document that can help you manage your assets during your lifetime and after A Pet Trust You can include a provision in your estate plan to establish a pet trust if you have pets A pet trust allows you to set aside funds to provide for your pets’ care after you pass away. A Unique Trust A trust is a legal document that can help you manage your assets during your lifetime There are several types of trusts, each with unique benefits.

Wills and trusts administration is a big category of law, and it can be a little confusing to understand For the most part, though, wills and trusts administration involves the following: Assets Passed Under a Will The wills and trusts administration lawyer in Houston will be helpful to the executor of a will administration! Tax Implications Finally, a wills and trusts administration lawyer in Houston will be instrumental in

steps you should take when considering how to best protect you and your loved ones: Create a Will and Trust A will is one of the most important aspects of a person’s estate plans, but without a trust in place, A trust ensures that the right assets go to those you intended. Trusts and wills work in conjunction to directly instruct the transfer of assets, and if done correctly It is far better to make plans in advance to leave the job to a trusted advisor.

We layer your asset protection so instead of you personally owning that LLC, maybe an irrevocable trust In order to get to you, they have to get through the trust. We use a lot of trust planning to assign the LLC to a trust, so the trust owns the membership interest

Vanderbilts and the Rockefellers, you will recall that centralizing your wealth in a carefully planned trust Forbes, in “How to Create a Family Trust to Empower Your Great-Great-Grandchildren,” reports that some Reference: Forbes (December 23, 2015) “How to Create A Family Trust to Empower Your Great-Great-Grandchildren

Some folks’ estate planning consists of a simple will, but for others, it may include a will, trusts, first step in estate planning” #Guardianship #EstatePlanningLawyer #LivingWill #PowerofAttorney #Wills #Trusts

Supplemental (Special) Needs Trusts Supplemental (special) needs trusts are the most effective trusts There are two different types of special needs trusts: Third-party Special Needs Trusts Typically, a First-Party Special Needs Trusts A parent, grandparent, or a legal guardian usually creates this trust one a sub-trust as part of an existing living trust. Support Trusts A support trust requires that the trustee distribute funds to the beneficiary for food

Grantor Retained Annuity Trusts. The grantor who creates the GRAT usually receives annuity payments from the trust that add up to the Qualified Personal Residence Trusts. Charitable Remainder Annuity Trusts. With a CRAT, you place assets into a trust and name one or more charities as the ultimate beneficiary

Probate is the court-supervised process for administering a deceased person’s estate. Executor Fees The executor or personal representative of the estate is entitled to compensation for their administration This commission is based on funds that are received and paid out in the course of administration of the Texas For those wishing to avoid the costs and delays of probate, there are several options: Living trusts

A medical power of attorney appoints someone you trust to make medical decisions for you in the event Jointly-owned property, property in trust, life insurance proceeds, and property with a named beneficiary family, determine which planning option may be right for you, and to avoid dragging out your estate administration