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Protecting Your Legacy

Probate and estate administration: Planning is important

| Jan 13, 2017 | Probate & Estate Administration |

Many Texas residents may believe that avoiding certain legal proceedings relating to their estates may be best for their families. However, attempting to avoid probate and estate administration processes may result in individuals facing unnecessary complications. Therefore, parties may wish to instead better understand their planning options and how probate could help ensure that their wishes are carried out.

One woman in another state expressed concerns regarding leaving her car and home to her children in the event of her death. She stated that she has payment-on-death bank accounts that have her children listed as the beneficiaries. She had hoped that there would be similar options for bequeathing the car and home equity that would allow her children to avoid probate without the use of a trust.

However, looking for ways to avoid probate may result in missing out on the simplest manner to effectively distribute assets. Though listing cars and homes in a will would result in the estate needing to move through probate, the process does not have to seem frightening. By having an up-to-date will and naming a desired executor, an individual’s estate could be addressed in the proper manner.

If individuals do have concerns when it comes to probate and estate administration, there are options available for gaining reliable information. Speaking with experienced Texas probate attorneys could help interested parties determine what proceedings their estate may be necessary and how they and their families could best prepare. Gaining this knowledge may help individuals feel more comfortable with the possibility of probate and knowing that their estate will be administered as they desired.

Source: news-sentinel.com, “Bruce Williams: Fear of probate Is misplaced”, Bruce Williams, Jan. 3, 2017