Elvis Presley, the King of Rock n’ Roll, trusted his manager and promoter, Colonel Tom Parker. Maybe he shouldn’t have. Elvis named his trustworthy father (Vernon) who was in poor health and elderly as the executor (without an alternate) of his will. That was a...
The battle over the estate of notorious murderer Charles Manson (who died in 2017) may soon be finally coming closer to a conclusion. However, it is likely that the hearing (set for later this month) will only get one step closer to finalization. Three people...
Guardianship is often needed for an incapacitated person, but it is an expensive legal process which should be avoided if possible. Thus, planning should be considered as an alternative to guardianship. Texas law defines an “incapacitated person” as: 1) a minor; 2) an adult, who...
The executor named in a will is the fiduciary who is responsible for (1) collecting the assets that pass by probate; (2) paying the debts, taxes, expenses and fees of the estate; and (3) distributing the assets in accordance with the terms of the will....
In drafting a will or a trust or in making a beneficiary designation, one of the most common questions that should be asked is “who would be entitled the share of my estate if a beneficiary predeceases me?” When you do not want to name...
Last month a lawsuit was filed against Jerry Jones to determine if Jones is the father of a child (Alexandra Davis) who was not born of Jones’ marriage to his wife. Last year a will contest was filed against the Estate of Charley Pride by a...
As the famous late N.Y. Yankee, Yogi Berra, once said “We made too many wrong mistakes.” Executors make many “wrong mistakes.” It may be an honor to be named as an executor in someone’s Will, but there are many pitfalls and errors that an executor...
Texas has increased the value of estate assets, excluding a homestead (if there is an exemption such as a surviving spouse or unmarried child living in the home and using it as their homestead) and other exempt property, to $75,000.00 which can pass to heirs...
A common question by someone who has been appointed as an executor of a Will after the Will has been probated (the process where it is determined the decedent’s Will is valid) is “What can I charge for acting as Executor?” After all, it often...
Client, whose husband died relatively recently, is concerned about the potential negative tax impact of the recently passed Tax Cut and Jobs Act (hereinafter the “Tax Act”). Client has 2 pieces of real estate (her home and a property in which her daughter live). The...