Probate is a legal process that addresses collecting a deceased person's assets, paying off their debts and distributing the remaining assets to those outlined in the person's will. This process can take months to years depending on the size of the deceased person's...
Each state has different laws surrounding wills and probate, so you need to check Texas law to ensure you do everything you need to do as an executor. Before you finalize the estate, you need to handle all tax and debt issues. Estate and income tax returns Based on...
Generally speaking, people look forward to inheriting money, real estate or other assets from their parents or grandparents. However, there are scenarios in which it may make more sense to decline the opportunity to receive ownership of a bank account, brokerage...
Tax season for most Texas residents offers an excellent time for everyone to also review their estate plans, and senior citizens are no different. In fact, it is probably more important for elders than anyone else. Knowing what would happen to personal assets in the...
As a prudent and sound-thinking Texas resident, you're into averting and not promoting disasters, right? We know that readers of our estate planning blog posts at the established central Texas law firm of Michalk, Beatty & Alcozer in Killeen peruse our entries for...
"Letting go can be difficult," writes a financial planner penning a recent article for an online publication. "Try to make it easier for those who remain," Buz Livingston adds.Livingston's focus relative to those statements is on estate planning, which comprises...
Yes, we presently live in uncertain and challenging times, but America has done so and prevailed with manifest strength in the past. Coping during an unprecedented period leads many people to fall back upon a core group of routine behaviors. Conversely, others...
The unprecedented COVID-19 virus pandemic has fundamentally altered life for virtually all Americans, at least over the near term. Texas authorities have joined with other state regulators spanning the county in crafting stay-home and linked policies aimed at...
Today’s Michalk, Beatty & Alcozer blog post answers some basic questions that many individuals and families in Texas and across the United States often have when their thoughts turn to planning surrounding their loved ones.Indeed, the term “estate...
A testator (sometimes called grantor or creator) often leaves nothing to chance concerning the drafting and execution of a will. He or she works in a timely manner with proven legal counsel to ensure that all important estate planning elements are sufficiently...
