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The difference between a durable and medical power of attorney

As you age and begin creating your estate plan, one of the things you may want to consider is who you want to grant power of attorney in the event that you become incapacitated or otherwise unable to clearly express your wishes on your own. Often, the person you choose for this role is someone in your own family, but this does not have to be the case as long as you appoint someone you believe you can rely on to make decisions based on your best interests.

3 things to include in your business succession plan

You may have all your personal estate planning complete, but have you planned for your exit of the family business? Do not just assume that you can leave it to a family member or sell it to a new owner and all will be well. No matter the exit strategy you choose, you need to have a plan for it.

What does breach of fiduciary duty mean in estate administration?

The purpose of an estate plan is to ensure the proper handling of a decedent's or incapacitated person's assets. When an appointed person does not fulfill relevant duties or, worse, mismanages the assets for personal gain, it is a breach of fiduciary duty.

How to establish a guardianship in Texas

An important aspect of estate planning to consider is guardianship. It is not only relevant to those with minor children or adult children with special needs. It can also be relevant to you if you become incapacitated and want to ensure the right person is making medical and/or financial decisions for you.

How power of attorney differs from conservatorship & guardianship

At some point in your life, there may come a time when someone asks you to serve as a fiduciary, someone with some type of decision-making power, on their behalf. Different roles might include that of a power of attorney, a guardian or a conservator. Understanding the distinctions between them can help you better understand your position and the types of responsibilities that might come with it.

Things to consider when choosing a legal guardian for your child

If you have minor children and are beginning the estate planning process, you should think about guardianship. Your children should have a legal guardian in the event you die while they are still minors. You might have trouble deciding between family members and friends. How do you choose the right person?Everyone has their pros and cons, but there are some guidelines to keep in mind. Read below for some things to consider while choosing a guardian for your children.

What can an estate executor do without court involvement?

Establishing a will or trust is imperative if you want to provide for your loved ones and prevent the hassle of probate after you pass. Part of planning your estate will entail designating the beneficiaries, trustees and executor. The latter of these—an executor—is responsible for distributing the property of the decedent. There are many other duties an executor will have, too, as part of the position.

3 strategies for avoiding probate in Texas

As you begin to plan for the future of your estate, you may be worried about the thought of probate. While probate is not inherently evil, you might want to reduce the amount of your estate that goes through it. The costs and time involved with probate can put a lot of stress on your heirs. You may also not be a fan of the loss of privacy and control of the process.

Understanding the duties of an executor

When drafting a will in Texas, appointing an executor is an important task requiring careful thought. If you do not appoint an executor, the court may appoint someone to oversee your estate. However, choosing the right executor in advance can help ensure your wishes are followed when the time comes to distribute the estate.

Important considerations when choosing an executor

An estate plan is set up to ensure that after you pass away, the distribution of your assets and belongings is how you intended. Once you have an estate plan set up, you need an executor to oversee the dispositions of your possessions and property, but who should you choose to handle this extensive task?

Mccullough & Mccullough

Serving South Texas For Three Generations

Office Location

323 E. Jackson Street
Harlingen, TX 78550

Phone: 956-320-1320
Fax: 956-423-4976
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