Probate Archives - Page 4 of 18

Are Pensions Treated the Same in Your Estate Plan as Other Retirement Accounts? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / June 11, 2024

The first private pension plan in the United States was established in the late 1800s. Through 1980, nearly 40 percent of Americans were covered by a traditional employer-funded pension. But employer-provided retirement plans have now largely shifted away from pensions to retirement savings vehicles like 401(k) plans and Individual Retirement Accounts (IRAs) that place most of […]

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If My Will Is Filed with the Court, Will It Go through Probate? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / May 21, 2024

Death is a personal and private affair that affects the deceased’s close family and friends. However, there is at least one aspect of death that may require state oversight: probate. But what does it mean to probate an estate and how does that different from when a the court requires a trusted helper to file a […]

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Demystifying Probate and the Executor’s Role from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / April 2, 2024

When creating a last will and testament (commonly known as a will), one of your most important considerations is who to choose to serve as the executor (sometimes called a personal representative) of your estate. As the name implies, the role of the executor is to execute the instructions that you provide in your will. You […]

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Don’t Let This Crucial Question Derail Your Estate Plan from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / March 19, 2024

Sitting down to create or update your estate plan can be overwhelming. Crucial to a successful plan is your ability to address two major questions: First, who will get your stuff when you die; and Second, how do you want those individuals or charities to receive their inheritance? Ways to Give Away Your Money and Property […]

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What Is the Difference Between a Probate and Trust Administration Attorney and an Estate Planning Attorney? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / February 6, 2024

Estate planning attorneys and probate and trust administration attorneys play crucial but distinct roles in the legal processes involving legacy planning, asset distribution, and wealth preservation. As part of the estate planning process, you should discuss with your attorney the role they will play during your lifetime and whether they can also assist your loved ones […]

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What Happens to My Twitch Account When I Die? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / January 30, 2024

In the digital age, our online presence extends beyond social media. Platforms like Twitch, where users engage with live-streamed content, present unique considerations when it comes to estate planning. Do you know what happens to a Twitch account after an individual passes away? If you die and a loved one needs to take care of your […]

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I’m a Survivor … and Now I Have My Own Trust? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / January 9, 2024

Many married couples share almost everything, including finances. This may be reflected in their estate plan by using one joint living trust instead of two separate trusts. Separate trusts can provide greater flexibility, but a joint trust can be structured so that when one spouse passes away, the trust is split into two subtrusts: a survivor’s […]

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The Life and Legacy of Jimmy Buffett from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / November 17, 2023

Jimmy Buffett died on September 1, 2023, at age 76 after a diagnosis of Merkel cell carcinoma (skin cancer) four years earlier. He was a renowned singer-songwriter, film producer, businessman, novelist, and philanthropist. Buffett released his first album, Down to Earth, in 1970. By 2023, his net worth was officially $1 billion,[1] including a $180 million stake in his […]