Does an Executor Have to Show Accountings to Beneficiaries?
Yes, an executor is generally required to provide an accounting to the beneficiaries of an estate. This accounting details the financial transactions related to the estate, including assets collected, debts paid, and distributions made. The specific requirements for accounting depend on state laws and the terms of the will, but in most cases, beneficiaries have […]
What Is Texas Estates Code Section 256.204?
Key Takeaways Introduction Texas Estates Code Section 256.204 states that an individual who wishes to contest a will only has two years to do so, with some limited exceptions. Essentially, this section sets an important statute of limitations in probate litigation related to the validity of a will. Understanding this statute and its implications is […]
How Do You End a Life Estate?
A life estate is a type of real property interest that grants someone ownership rights for their lifetime or someone else’s lifetime, and grants a future interest in another person or persons, known as “remainderman” or “remaindermen.” The owner of the life estate, known as the “life tenant,” generally has the right to possess and […]
How To Divide Inherited Property Between Siblings
Executive Summary Introduction When people pass away, they often leave behind bank accounts, investment accounts, retirement accounts, real property (homes, rental properties, etc.) and other personal assets as inheritance for their survivors. But how do two or more siblings divide up inherited real estate and other property? This question has caused countless family quarrels. However, […]
How Hard Is It to Contest a Trust?
Contesting a trust can be financially challenging, time consuming and emotionally taxing. Lawsuits are expensive. Gathering the information you need to support your case. Filing your contest petition with the court. Taking discovery. Participating in mediation or a settlement conference. Taking your case to trial with experts to help prove your case. All these things cost […]
The Trustee’s Guide to Dementia and Incapacity
Helping a parent or loved one who has dementia is always a challenging task. Considering and executing an estate plan for someone with a diminished capacity has an added element of difficulty. Depending on your loved one’s individual case, they may lack the legal ability to execute and sign vital estate planning documents like wills […]