When a married couple creates an estate plan using a revocable living trust (RLT), they have the option of creating a single joint trust or separate trusts. Whatever the reasons for creating separate trusts, when the ultimate beneficiary is the same for both spouses’ trusts (often the couple’s child or children), the question that inevitably […]
Estate Planning
The Pros and Cons of Probate from Austin Estate Planning Attorney Liz Nielsen
In estate planning circles, the word “probate” often carries a negative connotation. Indeed, many people—especially those with valuable accounts and property— desire to keep their accounts and property out of probate whenever possible. That being said, the probate system was ultimately established to protect the deceased’s accounts and property as well as their family, and […]
Three Tips for Overwhelmed Executors from Austin Estate Planning Attorney Liz Nielsen
While it is an honor to be named as a trusted decision maker, also known as an executor or personal representative, in a person’s will, it can often be a sobering and daunting responsibility. Being an executor requires a high level of organization, foresight, and attention to detail to meet responsibilities and ensure that all […]
Why a Revocable Living Trust Is the Best Option to Avoid Probate from Austin Estate Planning Attorney Liz Nielsen
Ideally, when someone passes away, the paperwork and material concerns associated with the deceased’s passing are so seamlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family and other loved ones to grieve and remember the deceased in peace. In fact, the whole business of estate planning—or at least a […]