Probate

Agent Now Has Duty to Preserve Estate Plan from Austin Estate Planning Lawyer Liz Nielsen

Imagine a situation where daughter is serving as the agent under mom’s financial power of attorney. Mom’s estate plan provides that her estate will pass 40% to daughter, 40% to son and 20% to mom’s favorite niece. The main asset in mom’s estate is a nice (and very valuable) Westlake home. In order to avoid probate on mom’s death, daughter files a lady bird deed, naming daughter and son as the only beneficiaries of the family home. Does the slighted niece have any recourse?

3 Tips for Overwhelmed Executors by Austin Estate Planning Lawyer Liz Nielsen

Overwhelmed executor by Austin Texas Probate Lawyer Liz Nielsen

While it is an honor to be named as an executor of a will or estate, it can also be a sobering and daunting responsibility. Being an executor (sometimes called an administrator) requires a high level of organization, foresight, and attention to detail to meet responsibilities and ensure that all beneficiaries receive the assets to which they are entitled. If you’ve found yourself in the position of “overwhelmed executor,” here are some tips to lighten the load.

Does My Estate Plan Need to Include My Vacation Property?

Estate Planning for a Vacation Home Austin Texas Estate Planning Attorney

Does your estate plan need to include your vacation property? Yes! If you own a vacation home, timeshare, investment property, or any other asset outside of the state where you are domiciled you must make sure it’s included in your estate plan. If you fail to include these in your estate plan, or fail to have an estate plan at all, your heirs will encounter issues, and usually the expense and hassle of court costs, when inheriting these assets.