Care Management
Dec 17, 2013
The long-term health care management of a loved one can put a tremendous physical and emotional burden on a family. What happens to my elderly loved one if I get sick or leave town? Who will care for my disabled or special needs child if my spouse and I should die? Many people throughout Houston and the surrounding area faced with these and other questions do not wish to pass their responsibility on to other family members. Understanding Care Management In a care management program,
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Guardianships and Conservatorships
Dec 17, 2013
Guardianship and conservatorship questions may arise when an elder relative or older friend shows signs of incapacity or cannot handle personal cares or financial matters. A guardian or conservator is only appointed if a judge determines the person, frequently referred to as a ward, is incapacitated or incompetent, depending on the law of the state. The guardian or conservator could be a spouse, child, friend or other interested party. To determine whether a guardianship or conservatorship is appropriate in your situation, contact an experienced elder
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Long-Term Care Planning
Dec 17, 2013
As medical technology advances and life spans increase, many Americans fear the financial strain that rising long-term care costs will have on their life savings. Proper planning can help alleviate many of those fears. Long-Term Care Insurance The cost of a nursing home stay will exhaust most Americans' retirement savings quickly. Medicare, Medicaid and other funding sources may cover the costs of care for a limited time or in limited circumstances, but a large portion of the costs must be absorbed by the person requiring
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Choosing A Corporate Trustee
Dec 17, 2013
The decision to entrust a family member or friend with assets intended for the benefit of a loved one can be quite difficult. Even more challenging is the choice of a corporate trustee, a corporation formed for the purpose of exercising trust powers. But for sizeable trusts which may require significant effort to manage or for families concerned about finding an individual trustee with sufficient experience to handle the responsibility, a corporate trustee is often the appropriate choice. Role of a Corporate Trustee A corporate
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How to Avoid Probate
Dec 12, 2013
Assets disposed of outside the probate process are part of the non-probate estate. Because a probate proceeding is not required, these assets are distributed more quickly to the appropriate beneficiaries. Many people seek out these assets and ownership models to save their loved ones from the difficulties associated with going through probate. If you are interested in managing your finances and your property to avoid probate, contact our firm to schedule a consultation with an experienced estate planning attorney. Non-Probate Assets Certain types of assets
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What Is the Role of An Executor of Will?
Dec 12, 2013
An executor is the person named by the creator of the will (the testator) to carry out the terms and provisions of the will. In addition to locating important documents and notifying Social Security, pension providers, annuity providers and other entities of the death, the executor has numerous other legal responsibilities. The executor's legal responsibilities include: Initiating the probate of the will Collecting and inventorying the testator's assets Collecting debts owed to the estate Paying claims against the estate Distributing assets to the beneficiaries of
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The Probate Process
Dec 12, 2013
Probate is the court process used to determine the validity of a will and oversee the payment of creditors and distribution of estate assets. Even if there is no valid will at the time of death, the estate will still go through the probate procedure. Since probate is regulated by state laws, there are specific procedures prescribed by each state for carrying out the process. Probate the Estate Despite the variation in state laws, probating the estate generally includes the following functions: Petitioning the court
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Probate and Estate Planning: An Overview
Dec 12, 2013
Estate administration refers to the process of probating the estate of a decedent, which generally includes collecting, inventorying and appraising assets; paying and collecting debts; filing and paying estate taxes; and distributing any remaining assets to beneficiaries. An attorney experienced in probate and estate administration can help simplify this complicated process. If you need help in the administration of an estate, contact our firm today to schedule a consultation with a probate attorney. Probate The probate estate is the total amount of property that is
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