Archive for September, 2012

The Key To Picking The Best Trustee

Thursday, September 20th, 2012

Planning is a very important aspect of our lives, which deals not only with our present, but also our future. One aspect of your life that you truly need to plan accordingly is that of your estate, and also a will. At one point or another all of us are will inevitably going to “kick the bucket”, but our loved ones will still be around whether it is our spouse, our children, other family members, or our close friends. By using a will, or an estate plan you can make sure that these individuals are provided for with varying aspects of your estate.

The Role of A Trustee

However, one very important aspect of an estate plan that deals with that of trust funds, and other assets is that of a trustee. Yet, what exactly is a trustee responsible for? The overall job of a trustee is to make sure that the wishes of the individual who set up the trust, or who’s assets are within an estate plan are divided and awarded to the appropriate individuals. Yet, many individuals have issues today as a result of choosing a trustee who cannot actually handle the job.

Understanding A Trustee

So, what are some factors that you need to look at when deciding who your trustee will be? Firstly, a trustee needs to be understood as a job. A trustee has to fill out forms, must write letters to family members and other entities, as well as even pay some bills. While responsibility and time management is an important aspect of a trustee individuals should also consider either relying in a non-family member to be a trustee, or even a hiring a professional trustee. Sometimes when family members become involved in being trustees they can easily embezzle money out of accounts, and ultimately mismanage the trust.

Remember, when you are planning an estate, especially that of a trust fund it is important to seek out the understanding, experience, and guidance of an experienced Texas probate attorney. With the help of a probate attorney you can expect, and rest assure that you will be walked through multiple options that you can participate within when it comes down to your estate.

In this day in age you need an individual you can count on, and at the Law Offices of Thomas D. Reino you get what you see. For more information on business law, or to get business law legal council please contact us by either phone at 817.303.2133, or by fax at 972.264.0891.

Updating Your Estate Plan After A Divorce

Thursday, September 6th, 2012

Planning is a common aspect of the future. Each and every day we have to plan what tasks need to be accomplished now, and tomorrow. One aspect of planning that many individuals participate in doing is that of estate planning. What is an estate plan you might ask? The basic idea of an estate plan is when an individual deceases to whom, or what their assets, finances, and property will be awarded to. Today, it is extremely important to have a will, and an estate plan since we clearly cannot predict our tomorrow.

Dealing With Divorce, And Your Future

As previously stated it is extremely important to have an estate plan. Yet, it is even more important to monitor, or update this plan regularly especially when you are going through a divorce. If you have an estate plan prior to a divorce your former spouse is more than likely mentioned within it. However, divorce is about separating from your spouse personally, financially, and especially, legally. Ultimately, this also includes your estate plan. Usually, the majority of the time, everything prior to a divorce within your estate plan is usually left to your spouse. However, many individuals today become wrapped up in their divorce presently, and forget about the future aspects of it.

Taking A Further Step Towards A Solid Estate Plan

When you are going through a divorce make sure to contact an experienced probate attorney today in order to examine, reevaluate, and eventually update your estate plan. Another aspect of divorce is that of remarriage. Today, many individuals get married, divorce, and then remarry. However, in this process, couples usually produce children with one, or both spouses, which ultimately contributes to a “blended family”. In these instances it is extremely important once again to go over your estate plan, and make sure the members of your family, or your loved ones are represented clearly within it, and changes are made accurately.

Overall, in order to make sure that your estate plan not only reflects your wants, and needs, but also is clear, and definite you need an experienced, and dedicated probate attorney by your side from start to finish. By doing so you can rest assure you, your estate plan, and your loved ones will be taken care of now, and later down the road of life.

In this day in age you need an individual you can count on, and at the Law Offices of Thomas D. Reino you get what you see. For more information on business law, or to get business law legal council please contact us by either phone at 817.303.2133, or by fax at 972.264.0891.