ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Houston Probate Attorney Whitney L. Thompson Explains the Five Probate Problems One Can Avoid With a Proper Estate Plan

By: Magic PR

Houston probate attorney Whitney L. Thompson (https://www.wthompsonlaw.com/5-probate-problems-you-can-avoid-with-a-proper-estate-plan/) releases a new article explaining the five probate problems one can avoid with a proper estate plan in Texas. The lawyer mentions that clients usually face probate problems after the death of a loved one because they do not have an estate plan in place. Going through probate court can be a lengthy and time-consuming process, but this is not the only reason why one should prepare to avoid probate. 

“In Texas, a person can contest a will for up to two years after it is admitted to probate court. When a person contests a will, they challenge the terms within the document. For the heirs and beneficiaries already included in the will, it may be frustrating to deal with this problem when it comes up. When this legal issue is not resolved as soon as possible, it may drag proceedings out for even longer,” the Houston probate attorney says. 

The heirs of the estate may also disagree over joint inheritances if there is no proper estate plan in place. In many cases, they may argue over which share of the property is theirs or heavily disagree on what they should do with the inheritance. Unfortunately, these relationships can deteriorate rapidly due to rancor or resentment. 

When leaving international property to heirs, probate problems can also multiply. It can be challenging to distribute assets since the estate owner must consider laws in different countries. The heirs may need to pay double the estate taxes, depending on whether the second country requires it. A similarly complicated situation is one in which the estate owner leaves property to relatives outside of the United States.

In the article, attorney Thompson adds, “Executors, administrators, and guardians will often need to pay for an attorney to represent them in probate court. Executors, in particular, have a duty to represent all heirs and beneficiaries named in a will. That is why if you are applying for letters of administration and determinations of heirship, for example, you will need to hire a licensed lawyer.” 

Furthermore, the lawyer adds that there are times when the executor of a will is not able to track down assets that an individual named in their will. If these assets cannot be found, then they cannot be transferred to heirs and beneficiaries. 

Lastly, the lawyer emphasizes the importance of having a skilled estate planning attorney when dealing with matters involving estate planning. Having an experienced estate attorney may be able to help an individual understand their rights and help them prepare for the future of their loved ones. 

About The Law Office of Whitney Thompson, PLLC

Attorney Whitney Thompson is an experienced family law attorney who helps clients deal with family law matters such as divorce or legal separation. Attorney Thompson also deals with guardianship, probate, and estate planning matters. As an experienced divorce lawyer, attorney Thompson and her legal team have helped families have a smoother divorce process and plan for their future more thoroughly. To schedule a consultation, call (281) 214-0173.

Source: https://thenewsfront.com/houston-probate-attorney-whitney-l-thompson-explains-the-five-probate-problems-one-can-avoid-with-a-proper-estate-plan/

About The Law Office of Whitney L. Thompson, PLLC | Houston Estate Planning Attorney

As a Licensed Attorney, I have spent most of my career helping and representing individuals with Child Support, Divorce, Guardianship, Probate, and Estate Planning challenges. I began this work early on as a law student at Thurgood Marshall School of Law, advocating for residents in the school’s Wills, Probate, and Guardianship clinic.

I was the first member of my family to graduate from college and a first-generation woman entrepreneur. I understand how challenging it can feel when you’re climbing a steep mountain toward your goals, but I’m here to tell you that you’ve got this.

Contact The Law Office of Whitney L. Thompson, PLLC | Houston Estate Planning Attorney

4201 Farm to Market 1960 Rd W Suite 219, Box #116B
Houston
TX 77068
United States

(281) 214-0173

Website: https://www.wthompsonlaw.com/


Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.