Dallas Attorneys for Vehicles and Equipment in Estate Planning

Most people acquire vehicles and equipment throughout their lifetime, and you may wonder what happens to these items upon your death. A comprehensive estate plan can help you transfer what could be some of your most valuable assets to your chosen beneficiaries.

The Dallas estate planning attorneys of Staubus, Blankenship, Legere and Walker PLLC have experience helping clients get their estate planning wishes on paper. Using our years of experience in estate and trust law, we can help you ensure that your vehicles and equipment go to the right people after your passing. To discuss your options and get your questions answered, contact us online for a consultation or call us at (214) 833-0100.

What Is Estate Planning and Why Is It Necessary?

An estate plan is a comprehensive legal plan that outlines your wishes regarding the distribution of your assets. An estate plan is necessary for a variety of reasons, including:

• More control over the distributions of your assets
• Minimization of taxes and other costs associated with the transfer of assets

If you want to dictate how your vehicles and equipment are transferred upon your passing, it is essential that you create an estate plan. Without an estate plan, your assets will be passed to your surviving family according to the rules established by Texas law, which may not be the result you intended.

Transferring Vehicles and Equipment with Beneficiary Designation Form

One way to transfer vehicles and equipment is through a beneficiary designation for motor vehicle form. This form allows vehicle owners to designate who they want to receive their vehicle upon their death. The beneficiary designation form is usually used for assets such as cars, boats, and recreational vehicles still in your name at your death. For example, the beneficiary designation form will no longer be valid if you transferred the vehicle before passing.

To complete this form, you will need to provide the following:

• Your name
• The name of your beneficiary
• The make and model of your vehicle
• The vehicle identification number (VIN)

It is important to note that this form can only be used for certain types of vehicles and equipment. Additionally, if you own multiple vehicles or pieces of equipment, you must complete a separate beneficiary designation form for each asset.

The beneficiary designation form for vehicles and equipment will transfer the identified vehicle or piece of equipment upon your death to the named beneficiary if they survive you by 120 hours and they submit a title application submitted within at least 180 days.

Transferring Vehicles and Equipment in a Will

Another method for transferring vehicles and equipment is through a will. A will is a legal document that outlines how your assets will be distributed after your death.

You should include specific instructions for each asset to transfer your vehicles and equipment in a will. This should include identifying the assets, specifying who will receive them, and any conditions for receiving them. For example, you can specify that your vintage vehicle should go to your grandson only if he completes his college education.

While wills are a common way to transfer assets, they can be complex. For example, if your will is contested, the transfer of your assets could be delayed or denied. Additionally, your will is subject to probate, which can be a time-consuming and expensive process. Therefore, a will may not be your best option if you want a car to transfer immediately upon your death.

Transferring Vehicles and Equipment in a Trust

A trust is another method for transferring vehicles and equipment in Texas. A trust is a legal arrangement in which a trustee holds assets on your beneficiary’s behalf. Trusts can be used to avoid probate and give you greater control over the timing of the distribution of your assets.

To transfer a vehicle or equipment to a trust, you must create a trust, place the vehicle and equipment in the trust by transferring title to the trust, and outline how the property should be distributed. Additionally, the trust will identify the trustee who will be responsible for managing the assets. This person will handle the transfer of the vehicles and equipment to your named beneficiaries.

What Happens if I Don’t Name Who Gets the Vehicle or Equipment?

How your assets are distributed depends on whether you have an estate plan. In a will, if you fail to designate a beneficiary for a specific item, it becomes part of your residuary estate. Therefore, if you fail to specify to whom the vehicle or equipment should go, it will go to whoever gets your residuary estate.

On the other hand, if you do not have a will, trust, or beneficiary designation form, your assets, including vehicles and equipment, will be distributed under Texas intestacy laws. Under these laws, your assets will be distributed as follows:

• To your surviving spouse, if you either have no children or only have children with that surviving spouse.
• To your surviving spouse and children, if you have children with someone other than your surviving spouse.
• To your children, if you have no surviving spouse.
• To your parents, if you have no surviving spouse or children.
• To your siblings, if you have no surviving spouse, parents, or children.

Will My Beneficiaries Owe Taxes?

When transferring vehicles and equipment in Texas, your beneficiary may owe taxes. Whether they owe taxes depends on what they do with their inherited vehicle or equipment and what other assets they received from you.

In Texas, there is no inheritance or capital gains tax. However, if the beneficiary sells the vehicle or equipment, they may owe federal capital gains tax. Additionally, when your heir sells or transfers vehicles under specific conditions, they must pay motor vehicle use or gift tax.

Contact Staubus, Blankenship, Legere and Walker PLLC for a Consultation

The estate planning attorneys of Staubus, Blankenship, Legere and Walker PLLC have over a century of combined experience in estate planning law. Using our experience, we can help you determine the best method for distributing your vehicles and equipment after your death.

The Dallas estate litigation lawyers of Staubus, Blankenship, Legere and Walker PLLC can write wills, set up trusts, and fill out beneficiary designations for motor vehicle forms on your behalf. To discuss your options and get started on your estate plan, contact us today at (214) 833-0100.

Dallas Attorneys for Estate Plans Involving Investment Assets

Most of us will acquire stocks, bonds, or trusts throughout our life in the hope that they’ll gain value over time. With the right estate plan, you can designate these investments to support your family members even after you’ve passed away.

The Dallas estate planning attorneys of Staubus, Blankenship, Legere and Walker PLLC have over a century of shared experience in estate and trust law and litigation. We aim to help clients in the Dallas/Fort Worth Metroplex state their wishes clearly, minimize their tax liability, support their personal representatives, and offer guidance to their survivors when legal issues arise. With a Martindale Hubbell AV Preeminent rating, we’re a firm that other lawyers trust. To get your questions answered, call us at (214) 833-0100 today.

Transfer on Death Provisions

Transfer on death, or TOD, is a designation you can make on certain investment assets. Brokerage accounts, stocks, and bonds are eligible, while retirement-related assets like IRAs and 401(k)s are not. Any investments with a TOD designation will not have to go through probate proceedings before reaching your beneficiaries.

To get a TOD designation for an investment, you must file a registration form with the issuer or brokerage. This form, however, is only the first step of the process. Before your beneficiaries can receive the assets, they must work with a “transfer agent” to verify the death certificate and change the name on the certificates or accounts.

Note that while you can add a TOD designation to a brokerage account you hold with your spouse, it will only take effect if both of you pass away at the same time. Otherwise, the account will always transfer to the surviving spouse and will not have to go through probate.

Transferring Investments in a Will

Wills are a simple and commonly-used way to transfer investments in an estate. For each asset, you can name a single beneficiary or more than one, with each person inheriting a percentage you define. You can also place investments in a testamentary trust to protect young beneficiaries.

While using a will can afford you a great degree of flexibility, you may want to consider other options if you value privacy. If you do not have an active transfer on death registration for your investment assets and list them in a will instead, they will have to go through probate proceedings. Once those proceedings conclude, they will become part of the public record.

Transferring Investments in a Trust

Trusts have much of the same flexibility as a will, but they are private and do not go to probate. You can be the trustee while you are still alive, establishing specific criteria for when your beneficiaries receive your assets, such as age or beginning college. Depending on the type of trust you pick, you could also downsize your estate for tax purposes.

To put investments in a trust, there are specific steps you’ll need to take depending on the type. Some examples include:

• Stocks – You must get permission from the issuer through their transfer agent. Sometimes, a guarantee from your brokerage or bank may be required.
• S. Savings Bonds – You must fill out Form 1851 to reissue a savings bond to your trust. Submitting this form means you won’t have to report gains from the bonds on your federal tax returns, as the trust will own the bonds.
• Brokerage accounts – Different firms have different procedures for transferring accounts to trusts. You’ll likely need a “certification of trust” or other document to prove that you have power over the trust and the securities. Speak with your broker for more information on the forms you need to file.
• Real estate holdings – You’ll need to contact a county registrar to create a new deed in the name of the trust.

Some investment assets cannot go into a trust, such as:

• Retirement accounts, 401(k)s, and annuities
• Health savings accounts
• Life insurance policies
• UTMA/UGMA accounts

Even if an investment can’t be transferred to a trust, you may still be able to put a transfer on death provision in place for it. A living trust attorney can guide you on how to best protect each asset in your portfolio.

Will My Beneficiaries Owe Taxes?

Many clients wonder what their survivors’ tax liability will be upon inheriting an investment. The answer is “they might owe taxes,” depending on what each beneficiary does with their investments once everything has been transferred into their name.

Texas has no state income, inheritance, or capital gains tax. However, if a beneficiary sells an investment they’ve inherited, they may still be liable to pay federal capital gains taxes.

If someone inherits an investment and sells it less than a year later, they’ll be liable for short-term capital gains taxes, which have the same rate schedule as normal income taxes. Long-term capital gains tax rates vary based on a person’s total taxable income and the type of asset they sold.

What Happens to My Investments Without an Estate Plan?

If you don’t have a will, trust, or TOD provisions for your investments, they will automatically go into “intestacy” proceedings. The court will locate eligible beneficiaries according to the Texas Probate Code, in this order:

• Surviving spouse/children by that spouse
• Surviving spouse/children by another person
• Surviving spouse, with no children or parents
• Surviving spouse and parent, but no children
• Surviving spouse and siblings, but no parents or children
• Surviving children, but no spouse

The court must follow the specific provisions of the law to distribute the decedent’s assets, appointing a personal representative to carry out its orders. If no eligible beneficiaries can be found from the decedent’s immediate or extended family, then the State of Texas becomes the sole beneficiary.

There is no guarantee that a court will honor your wishes if you pass away without an estate plan. To best protect your investment assets, be proactive in creating an estate plan and update it regularly.

Contact Staubus, Blankenship, Legere and Walker PLLC Today for an Estate Plan Consultation

When you work with an experienced and skilled estate planning lawyer, you have the best odds of protecting your stocks, brokerage accounts, bonds, and other investments for your heirs. The DFW estate litigation team at Staubus, Blankenship, Legere and Walker PLLC offers consultations to help you understand your legal options. We can work on your behalf to write wills, set up trusts, retitle investments, and fight for the best possible outcome for your beneficiaries. Contact our office today at (214) 833-0100 to speak with one of our attorneys.

Dallas, TX Estate Planning Attorney for Cash Holdings

Whether it’s in a bank account, in a safe, or in a wallet, cash is the most clear-cut type of asset in an estate. It’s worth exactly what an executor counts, and releasing it to beneficiaries is as simple as a handover or electronic transfer. Without planning, however, the cash you leave behind could still be subject to taxes or court proceedings.

The Dallas-Fort Worth estate planning attorneys of Staubus, Blankenship, Legere and Walker PLLC provide qualified estate planning and protection services. Our team has over a century of combined experience designing personalized solutions to minimize tax liability, protect your property, and provide for the people and causes you love. Contact our Dallas office today at (214) 833-0100 to schedule a consultation.

Cash Holdings With a Will

If you plan your estate using a will, you can express your wishes about cash holdings directly. You can set aside a specific amount for each beneficiary or divide it equally among all of them. While many testators distribute their cash with “no strings attached,” some require their beneficiaries to meet certain conditions before they receive their share of the money, such as reaching a certain age or getting married. Others will place funds into a “testamentary trust” for a specific purpose, like paying for college or buying a house.

Remember that writing a will doesn’t shield your estate from court proceedings. Before a court can enforce a will, a judge must ensure that it was written following legal requirements. Further, anyone interested in the estate can contest a will’s legality if they can prove they have a proper reason, called “grounds.” Some grounds that Texas courts allow include:

• Improper execution – Someone may claim improper execution if a required piece of the will, such as a signature, is missing.
• Undue influence – Someone coerced or manipulated the testator into producing the will or dividing assets a certain way.
• Fraud – Someone misled the testator into signing a will.
• Lack of testamentary capacity – The testator was not mentally able to sign the will, or they could not understand its nature, function, or ramifications when they signed it.

An attorney can help write your will to minimize the chances of a challenge, then defend your wishes for your cash holdings once the will enters probate.

Cash Holdings In a Trust

With a trust, you can protect cash holdings in an estate while avoiding court proceedings. They break down into two common types:

• Revocable trusts – Revocable trusts are also called “living trusts.” You have complete control of the trust while you’re alive and can remove cash or change how you’d like it to be distributed at any time. After you pass away, the trustee you appoint is responsible for distributing the money as you wish.
• Irrevocable trusts – Once you put cash or other items into an irrevocable trust, you cannot remove or change it. Since you are transferring ownership of the assets in an irrevocable trust, you are reducing the size of your estate. In turn, your potential tax liability decreases.

No matter if you set up a revocable trust, an irrevocable trust, or multiple different trusts, the trustee is responsible for enforcing the terms according to your wishes. Trust proceedings are private, and where a creditor could claim the right to a share of your cash with a will, your lawyer can help you establish mechanisms to protect it in a trust.

Finally, while trusts are powerful tools, they shouldn’t be the only piece of an estate plan. If a trust forms your entire plan, any assets still in your name upon your death could be subject to probate proceedings. Therefore, your lawyer may recommend creating a “pour-over will” that transfers your residual cash and other assets into your trust.

Cash Holdings and Intestacy

In Texas, “intestacy” happens when someone passes away without a will or trust. Intestacy proceedings generally involve the following steps:

• Identifying heirs – Heirs are usually a decedent’s surviving spouse, children, parents, or siblings. For an heir to be eligible, they must outlive the decedent by 120 hours. If the court can’t find a next of kin, even within either side of the decedent’s extended family, then the state becomes the sole heir.
• Appointing an administrator – The court will appoint an administrator to handle the practical business of distributing the decedent’s property. Any “interested party” may petition the court for the job, though a court will likely want all heirs to agree on an administrator before it makes a final decision.
• Distributing assets – Succession laws in the Texas Estate Code define who gets what share of the decedent’s estate according to the mix of eligible heirs. The administrator must faithfully distribute the property according to the court’s orders. If any disputes arise between the heirs, the court holds the ultimate authority to settle them.

Cash Holdings and Taxes

Just as Texas doesn’t have a personal income tax, they also don’t levy an estate tax at the state level. However, your representative could still have to pay federal estate or gift taxes on your behalf.

Each year, the IRS sets a new filing threshold for estate taxes, adjusted for inflation. You can find the most current amount on the agency’s website.

If the total value of your estate and taxable gifts is below the filing threshold at the time of your death, your estate is exempt from taxes. However, if it exceeds the threshold at that time, your executor must file Forms 706 (estate tax) or 709 (gift tax,) making any required payments before distributing assets to your beneficiaries.

To determine if you might owe money, your lawyer will calculate the fair market value of the items in your estate, then subtract deductions such as debts, charitable contributions, and assets that go to a spouse. They’ll also consider any financial gifts you made throughout your life, subtracting a “unified credit” amount that is exempt. If your estate exceeds the filing threshold, they could help you downsize it to minimize liability.

Contact the Dallas Estate Planning Team at Staubus, Blankenship, Legere and Walker PLLC Today

Do you have questions about cash holdings in your estate? Let the Dallas estate litigation attorneys of Staubus, Blankenship, Legere and Walker PLLC guide you toward a prudent, comprehensive, and robust estate plan. Call us today at (214) 833-0100 to speak with one of our team members.

If you have real estate you want to include in your estate plan, contact Staubus, Blankenship, Legere and Walker PLLC immediately. An experienced estate planning attorney in Dallas can help safeguard your assets during your lifetime and when you die.

Estate planning isn’t only about informing your loved ones of your wishes. It also involves protecting your assets. If you own real estate, creating the appropriate documents to ensure the right people get your property when you’re gone is crucial. You can pass these assets to your family without confusion or legal disputes.

At Staubus, Blankenship, Legere and Walker PLLC, our legal team has over 100 years of combined experience in estate planning. We will review the real estate and land you own to establish an estate plan most beneficial for you and your loved ones. Call our Dallas estate planning attorneys at (214) 833-0100 to schedule a consultation today.

How to Include Real Estate Property in an Estate Plan

Real estate isn’t limited to a person’s residence. It can include a vacation home, rental property, building, or land. You can set up your real estate property to distribute to your beneficiaries upon your death, minimize estate taxes, and potentially avoid probate.

Below are the primary types of real estate and how to protect them.

Primary Residence

You must consider the way your primary residence is titled during estate planning. Typically, you title your home in both spouses’ names when you are married. Your primary residence can qualify for the homestead exemption, allowing a tax break. However, it doesn’t benefit your spouse when you die because the home doesn’t automatically transfer to them.

You can ensure your spouse assumes automatic ownership of your primary residence upon your death with a joint tenancy with a right of survivorship agreement. The agreement allows your home to pass to your spouse without going through probate. They won’t have to wait for a judge to validate your will and authorize the transfer of this asset.

Setting up a transfer-on-death deed (TOD) is necessary if you’re single and want your beneficiary to avoid probate. You can name anyone as the beneficiary of your primary residence. The person you choose will receive your home or land when you die.

Creating a qualified personal residence trust (QRPT) is another option for leaving behind your home in your estate plan. A QRPT is a type of irrevocable trust.

As the grantor of the trust, you maintain interest in the property and can remain in your home for a predetermined timeframe. Continuing to live in the home reduces the property’s value, minimizing your beneficiary’s estate and gift taxes.

When the term ends, the trust’s beneficiary assumes ownership if you are still alive. However, if you die before the end of the term, the residence will return to your estate, preventing your family from receiving tax benefits.

Vacation Home

If you own a vacation home, you should consider setting up a trust or limited liability company (LLC). It protects the property and simplifies transferring ownership to your surviving family upon your death.

You can establish the rules for maintaining and using the home with an LLC or trust. You can also determine what should happen to it when you die. You might decide you want it to stay in the family and pass to the next generation. Or you could have your beneficiary sell it and keep the proceeds.

A vacation home owned by an LLC is also beneficial because an LLC protects your personal assets from creditors. For example, if a creditor files a claim against your LLC for unpaid bills, they can only use those assets to satisfy the debt. They can’t use your personal assets to repay what you owe.

Rental Property

Owning rental property provides an additional income stream. However, rental properties come with multiple risks. You can face lawsuits and other legal issues while you’re alive if a renter gets hurt on the property. You can set up an LLC to own the rental property to avoid personal liability.

Establishing a living trust for the property provides additional benefits for your loved ones. You minimize estate taxes, avoid probate, and allow someone you appoint to manage the asset if you’re incapacitated and can’t do yourself.

Common Types of Deeds in Texas

A deed is a legal document used to transfer property ownership to another person. Using a deed for real estate in estate planning is beneficial to accomplish specific goals. The most common deeds in estate planning include:

• Transfer-on-death (TOD) deed – A TOD deed allows you to transfer your interests in real estate property or land to someone else when you die. The person you leave the asset to won’t have to go through probate to assume ownership. They will receive it upon your death and can use it how they want.
• Life estate deed – A life estate deed benefits you and your beneficiary. You can transfer ownership of the land or home while retaining rights to a life estate on the property. However, you maintain responsibility for expenses like mortgage payments, maintenance costs, and taxes while alive. You also can’t sell the property unless you obtain consent from all named beneficiaries.
• Lady Bird deed (LBD) – You can reserve a life estate for yourself and transfer your real estate interests when you die with an LBD. Unlike a life estate deed, you can use the property during your lifetime by mortgaging, leasing, or selling it. When you pass away, if you haven’t sold the property, it will revert to your beneficiary automatically, who will avoid probate.

Protect Your Real Estate During Estate Planning

A well-prepared estate plan allows you and your loved ones to reap the benefits of real estate ownership. Estate planning is essential whether you have a primary residence, land, or rental property. You must protect your valuable assets and secure your family’s financial future.

Staubus, Blankenship, Legere and Walker PLLC can review your real estate and advise you on your options for including it in your estate plan. We can help you minimize estate taxes, establish beneficiary designations, and prevent your loved ones from enduring the time-consuming and costly probate process.

If you want to learn more about how to include your real estate property and land in your estate plan, call us at (214) 833-0100 to schedule a consultation with a Dallas estate planning attorney now.

The decision to establish guardianship for someone you love is not one that anyone takes lightly, however necessary it may be. Yet this process can become even more emotionally challenging and complex when other family members choose to contest the guardianship. This could happen because they believe that someone else should have been appointed guardian or because they do not believe that the person in question needs to have a guardian at all.

If you are part of a family currently in dispute about the designation of a guardian, you need the help of a lawyer with extensive experience in estate litigation. The skilled and trusted Dallas estate litigation attorneys of Staubus, Blankenship, Legere and Walker PLLC have previously helped many Texas families in guardianship disputes. We have a thorough understanding of guardianship litigation laws and know how to resolve differences between family members while advocating for your loved one’s best interests.

Call our offices today at (214) 833-0100 or contact us online for a confidential consultation to find out what your legal options are.

What Is a Guardianship?

A guardianship is a legal relationship established by a court, in which one person becomes the guardian, or decision-maker, for an incapacitated individual called the “ward.” The ward is generally someone unable to manage their own finances or care for themselves. They can be a senior citizen with dementia, a mentally or developmentally challenged adult, or a minor.

Guardianships of Person and Estate

A guardianship involves two aspects: guardianship of the person and guardianship of an estate. The same person may be appointed to serve in both roles. While parents or co-conservators of a child can serve as guardians together, most other cases allow for only one guardian at a time.

• Guardian of the person – This role requires an individual to make personal and medical decisions for the ward. This means they are responsible for the ward’s physical care, including housing, food, healthcare, and educational needs.
• Guardian of the estate – This role requires an individual to care for the ward’s financial interests, including income, expenses, assets, and liabilities.

How Do Courts Decide Who Is Appointed Guardian?

In Texas, courts assign guardianships via a top-down approach that prioritizes family members over non-family individuals.

If the ward is an adult, courts will assign guardianship in the following order:

• The person whom the ward designated to have guardianship before the ward became incapacitated
• The ward’s spouse
• A non-relative individual whom the court deems satisfactory as an appropriate guardian.

If the ward is a minor, the courts will assign guardianship in the following order:

• Parents
• The person the last surviving parent has designated for guardianship of the child
• The nearest ascendant to the child after the parents (generally a grandparent, an aunt, or an uncle)
• A non-relative individual whom the court deems satisfactory as an appropriate guardian

In any case, if more than one person qualifies as guardian, the court will determine which candidate will be in the ward’s best interests.

What Are the Responsibilities of a Guardian in Texas?

The state of Texas requires that a guardian must meet certain legal responsibilities. They are held to high standards of behavior when it comes to their duty of care for the ward.

Responsibilities may include:

• Posting a bond for an amount determined by the court and taking an oath swearing that they will fulfill their responsibilities and duties. This bond is an insurance policy designed to protect the ward’s assets if the guardian takes actions that create financial loss to the ward’s estate.
• Moving estate assets in the best interests of the ward.
• Providing for the ward’s needs to the extent allowed by the ward’s resources
• Filing an annual account of the estate’s annual receipts and disbursements.
• Filing an inventory of the ward’s assets.
• Requesting permission and approval of the court for certain actions taken on behalf of the ward.

Disputing the Need for a Guardianship

Not everyone in a family will agree that the individual in question needs a guardian. Certain family members may assert that the intended ward retains the necessary mental capacity to make decisions and to take care of themselves and their finances. The experienced attorneys at Staubus, Blankenship, Legere and Walker PLLC have experience working with families to resolve these disputes. We will work with the family members involved to review the necessary facts while keeping the intended ward’s best interests at the center of all conversations.

Contesting the Appointed Guardian

Even if family members agree that a guardian is necessary for the ward, they may have different ideas about who the appropriate person to serve as guardian should be. If such a case involves an adult, the courts would attempt to appoint the guardian according to the wishes of the ward if they made these wishes known before they became incapacitated.

If no such wishes were expressed, the courts will decide based on the top-down approach outlined above.

However, there are times when family members contest a guardianship because they believe that the person appointed is failing to take adequate care of the ward. If there is reason to believe that the guardian is abusing their power or making careless mistakes regarding the management of the ward’s estate, the guardianship dispute lawyers of Staubus, Blankenship, Legere and Walker PLLC can investigate whether the guardian has behaved appropriately and reasonably.

Contact an Experienced Dallas Estate Litigation Attorney Today

If you and your family are engaged in a guardianship dispute over a loved one, it is essential that you have skilled and knowledgeable legal representation on your side. The experienced estate litigation attorneys at Staubus, Blankenship, Legere and Walker PLLC recognize how emotionally challenging it can be to deal with issues of contested guardianship in Texas. We will work to find a resolution while keeping your loved one’s best interest in mind. We will sit with you and carefully review your issue, and we will offer our advice on what your legal options are.

Call us today at (214) 833-0100 or contact us online to schedule a consultation and let us get to work for you.

Dallas Estate Litigation Attorneys for Conservatorship Disputes

Some adults in Texas need help making important decisions regarding finances, health care, and other life matters. In cases where an adult is incapacitated or otherwise cannot make prudent decisions on their own, a conservator may be established to make those decisions for them and help the individual with their everyday responsibilities.

Since a conservator is basically granted all decision-making authority over another person, the potential exists that the conservator could abuse their duties or neglect them altogether. If this occurs, you have every right to hold the person accountable and seek the best possible resolution for you or your loved one.

Here at Staubus, Blankenship, Legere and Walker PLLC, one of our Dallas estate litigation lawyers will sit with you and carefully review your issue, and offer advice regarding your rights and options. Contact us at (214) 833-0100 to request a confidential consultation.

What Is a Conservatorship?

Unlike other states, Texas uses the term “conservatorship” to refer to the custody of minor children, particularly in relation to divorce. While the Texas Family Code governs most matters involving the strict definition of conservatorship in the state, some conservatorship issues fall into estate law and are governed by the Texas Estate Code.

In cases where the incapacitated person (or the ward) is an adult, Texas allows conservatorships as either of the following:

• Guardian of the person – Makes decisions regarding a ward’s physical well-being and their primary residence.
• Guardian of the estate – Makes decisions about the ward’s financial affairs.

Conservators may be granted full or limited guardianship, and they may be both the guardian of the person and the estate. The court may also appoint a temporary guardian in emergency situations.

Who May Need a Conservator?

Many adults in Texas suffer from physical disabilities or mental disorders, such as dementia, that make it difficult or impossible to maintain proper hygiene, receive the medical care they need, and make prudent financial decisions.

Just having a disability doesn’t make a person incapable of making important decisions. Also, people may become the ward of a conservator based on their own behavior.

A famous example of this occurred in 2008 with pop star Britney Spears. The previous year, the performer suffered a highly publicized mental breakdown, which led to her behaving strangely and erratically, along with alleged substance abuse. Spears had minor children at the time, and her family was concerned with the children’s well-being as well as Britney’s. They sought a temporary emergency conservatorship in California, and the court appointed Britney’s father as her conservator. He was allowed to manage all aspects of her financial, legal, and medical affairs. The court then made the conservatorship permanent.

Over the course of the conservatorship, many people, including Brittney herself, had concerns with how her father was managing his duties as her conservator, even calling the relationship abusive and claiming the arrangement was adversely affecting her life. She petitioned the court for an end to the conservatorship several times over the years, which set off an extensive legal battle that concluded in 2021 when the court finally terminated the conservatorship.

What makes Britney’s case special is that she was a working adult, and she was producing music albums, appearing on television programs, and performing live concerts during the conservatorship. Although she had a mental breakdown, she had received treatment, but the court awarded a permanent conservatorship anyway.

Responsibilities of a Conservator

A conservator is supposed to always act in the best interests of the ward. In fact, the person must take an oath to fulfill their responsibilities and post a bond to act as security against any financial losses they may cause to the estate. As part of their duties, they must keep accurate records regarding the ward that include the following:

• A detailed account of how the ward’s money is being spent
• Receipts for reimbursement of expenses
• An inventory of the ward’s assets
• Records detailing health care the ward received
• Statements regarding the ward’s needs and care as allowed by the ward’s funds

If the conservator cannot or will not provide evidence that they have properly fulfilled their duties, the ward themselves or a family member may petition to have the conservatorship terminated and request a new conservator.

Who Can Become a Conservator?

Texas courts assign certain individuals priority when determining who can serve as a conservator or guardian of a ward. If the ward is a minor child, the court will appoint conservatorship in the following order:

• The child’s other parent
• The person the last surviving parent of the child designated as their guardian, such as in their will
• The nearest relatives after the parents, such as grandparents or aunts and uncles
• A non-relative the court deems appropriate

If the ward is an incapacitated adult, the court will appoint a conservator based on the following priority:

• The person the ward named as their guardian before their incapacitation
• The ward’s current spouse
• A non-relative the court deems appropriate

There are also instances where a parent of minor children specifies a conservator in their will, and upon the parent’s passing, their intended conservator either cannot or refuses to become the conservator.

Challenging a Conservator

No matter the reason, if you have major concerns with the conservator of a ward, you need to understand your options for recourse. Once a conservator or guardian has been appointed by the court, to have that person removed from their position, the court will have to terminate the order, provided the ward is still alive.

You will need to petition the court to end the conservatorship, and you can show either of the following:

• The ward has regained full capacity to make manage their affairs and care for themselves.
• The ward was a minor and has reached 18 years of age.

For parents of minor children who were deemed to be “incapacitated parents,” they may petition the court to regain conservatorship over their children and obtain parental rights if they can show they are fully rehabilitated from the conditions or circumstances that led to their incapacity.

If you need to take the conservator to court for their inappropriate actions as conservator, talk to your estate litigation lawyer. We’ll listen to the details of your situation and help you determine the best course of action.

Contact Us for Help

The lawyers at Staubus, Blankenship, Legere and Walker PLLC have extensive experience helping clients throughout Dallas with conservatorship disputes and other estate litigation matters. For help with your issue, you can call us at (214) 833-0100 to request a confidential consultation.

Dallas Estate Litigation Attorneys for Formal Accounting

When a loved one passes away, the executor of their estate is typically named in their will. If there is no will, the probate court will appoint an administrator of the estate. An executor or administrator is in charge of distributing the estate’s assets to its beneficiaries, according to the decedent’s will or state law. They also have a fiduciary duty, which means they are obligated to act in the best interest of the estate and its beneficiaries. If an executor does not uphold their fiduciary duty, they can be held liable for the harm their actions cause to the estate.

So what happens if you have doubts about the executor or administrator’s fidelity to their role? What can you do as an estate beneficiary, concerned family member, or loved one? Alternatively, if you are an executor or administrator of an estate, how can you protect yourself from accusations of wrongdoing and liability?

The Dallas estate litigation attorneys of Staubus, Blankenship, Legere and Walker PLLC have helped beneficiaries and executors on either side of this predicament through the process of producing a special legal report called “formal accounting.” Formal accounting is not a task that can be left to an inexperienced or unskilled attorney. With over 100 years of combined legal experience, the attorneys at Staubus, Blankenship, Legere and Walker PLLC are equipped to handle this complex but critical task.

Contact Staubus, Blankenship, Legere and Walker PLLC today at (214) 833-0100 to speak with one of our estate litigators about the usefulness of formal accounting.

What Is Formal Accounting?

According to the Texas estate code, beneficiaries and other interested parties have the right to demand an accounting, colloquially referred to as an “informal accounting,” from the executor of their loved one’s estate. The informal accounting should include the following:

• Property belonging to the estate that has come into the executor’s possession
• Status of estate property that has come into the executor’s possession
• Any remaining property still under the executor’s possession
• Debts that have been paid by the estate
• Debts and expenses still owed by the estate
• Other information necessary to fully understand the condition of the estate

Furthermore, beneficiaries have the right to related documentation, statements, and receipts that support this accounting.

If the executor fails to provide this informal accounting within 60 days of the request, the beneficiary or interested party may ask the probate court to compel the executor to provide an accounting. After a hearing, the court can order the executor to provide a “formal accounting.” A formal accounting must comply with a certain format that is very detailed. A formal accounting will usually require the assistance of an experienced attorney who thoroughly understands these complicated formats, which will cost the estate additional time and money.

Reasons Why a Beneficiary May Ask for Formal Accounting

There are many reasons why a beneficiary or other interested party may request a formal accounting, including:

• The executor is withholding or hiding information
• The executor may be disobeying the decedent’s wishes
• The executor may have stolen estate assets or property
• The executor may have mismanaged estate assets
• The executor may have utilized estate assets or property for their own personal benefit
• The executor may have abused their power

Reasons Why an Administrator or Executor May Want a Formal Accounting

There are some instances in which an executor may want to provide a formal accounting. If an executor has performed their fiduciary duties properly, a formal accounting will create a record of their honest performance for the court, beneficiaries, and other interested parties. This could protect the executor from liability should a beneficiary accuse them of failing to uphold their fiduciary duty down the road.

Furthermore, by providing a formal accounting before the conclusion of the probate process, the executor can use estate funds to pay for the formal accounting and legal representation to defend the accounting.

What Happens After a Formal Accounting

Once the executor provides the court with a formal accounting, the beneficiaries can review and evaluate this information for accuracy and completeness. An experienced estate litigation attorney can help you look for issues, such as:

• Assets that are unaccounted for
• Unexplained expenditures or losses
• Transfers of assets or property that do not have supporting documentation
• Accounting balances that do not match balances on supporting documentation

If the beneficiaries identify any issues with the formal accounting, they may file an objection with the court. An estate litigation attorney may even sue the executor to compel them to produce documentation through discovery. A judge will consider both sides and issue a ruling, which may order the executor to fix their mistakes, levy a surcharge against the executor, or remove the executor altogether.

How an Estate Litigation Attorney Can Help with Formal Accounting

Formal accounting is a complex task that requires the assistance of a skilled, experienced, and knowledgeable estate litigation attorney.

If you are a beneficiary or interested party concerned about the performance of an executor, an attorney can help you:

• File a request for formal accounting with the probate court
• Review the formal accounting and supporting documentation for issues
• File objections to the formal accounting
• Obtain an order for discovery and subpoena evidence if necessary
• Defend the rights and interests of beneficiaries in court

If you are an executor of an estate asked to provide formal accounting, an attorney can help you:

• Gather documentation required to comply with formal accounting
• Organize the information in the court-approved format
• File the formal accounting with the court
• Represent the executor in litigation
• Defend the executor’s actions in court

Contact Staubus, Blankenship, Legere and Walker PLLC Today for Help with Formal Accounting

If you have concerns about the performance of an executor, or you are an executor seeking to protect yourself from liability, contact Staubus, Blankenship, Legere and Walker PLLC today at (214) 833-0100 to learn more about and get help with formal accounting.

Dallas Estate Accounting Attorneys

If the executor or administrator of your deceased family member’s estate doesn’t provide an accounting, contact Staubus, Blankenship, Legere and Walker PLLC immediately. We could represent you in a case against the executor for failing to uphold their duties or engaging in fraudulent activity while administering the estate.

At Staubus, Blankenship, Legere and Walker PLLC, we represent beneficiaries in estate accounting matters after the death of a loved one. You should have access to various documentation and receive updates regarding the financial conditions of the property in the estate. If the executor or administrator withholds necessary information or violates your rights, you could seek legal action against them.

Call Staubus, Blankenship, Legere and Walker PLLC at (214) 833-0100 today to set up your consultation with one of our Dallas estate litigation attorneys and learn more about what we can do for you.

Understanding the Elements of Estate Accounting

An accounting is a written document that includes details regarding an estate’s financial condition. It contains information about the disposition of property, debts, taxes, and other relevant details.

Interested parties can request an accounting if the executor or administrator of the estate doesn’t file one.

The executor owes beneficiaries a fiduciary duty to disclose accounting information. The right to obtain formal accounting begins fifteen months after the court issues letters testamentary or a letter of administration authorizing the administration of the estate.

Texas Laws Regarding Estate Accounting

Sometimes beneficiaries feel excluded from the probate process. While an executor or administrator handles the estate, they might not be as communicative as the beneficiaries would like about their estate-related activities. That doesn’t necessarily mean an executor has hidden something or purposely withheld information. However, knowing how someone handles the estate and the status of various assets is the beneficiary’s right.

According to Texas Estates Code 404.001, interested persons may demand an accounting from the administrator or executor of the estate fifteen months after the court issues a letter of administration or letters testamentary. The executor must provide the demanded information in writing. That information could include:

• Any estate property that came into the possession of the executor
• Dispositions of the property
• Paid debts
• Expenses and debts the estate still owes
• Any estate property still in the executor’s possession
• Other facts necessary to provide a definite and full understanding of the estate’s exact condition
• Any facts that demonstrate why the executor can’t close administration and distribute the remaining assets

Upon demanding information, any other interested party can receive a copy of the accounting or any exhibit the executor made under state law.

If the executor doesn’t furnish an accounting within 60 days of the date of the interested party’s demand, the interested party could pursue legal action in probate court. The court might issue an order requiring the executor to comply with state law and provide the required accounting information.

Besides the initial accounting, beneficiaries can also request periodic accounting. The executor can only supply the information in intervals of twelve months or more after the initial accounting has been provided.

Alternative Dispute Resolution Options

Estate administration can become contentious among beneficiaries and executors. There might be disagreements over how someone handles the process or questions regarding the exact assets left in the estate.

If you must pursue a lawsuit to resolve the dispute, it could be a time-consuming and costly process. An alternate solution could be beneficial and help you reach a favorable outcome.

Texas law doesn’t require the parties involved in probate administration to participate in alternative dispute resolution (ADR). However, the court might order mediation or arbitration for opposing sides to try to work out the issue outside of court before proceeding with litigation.

Mediation and arbitration have similar goals but different methods. Both aim to settle legal matters without the court’s involvement.

Mediation

During mediation, opposing parties meet with a mediator to try to resolve the issue. The mediator must listen to each side’s wishes and recommend solutions. Mediators don’t make decisions for the parties. Mediators can’t issue judgments or force a resolution. They are simply there to suggest how to settle the matter outside of court.

The various benefits of mediation include:

• Less money – Typically, mediation is cheaper than pursuing a lawsuit in court. That’s because you don’t have to worry about paying as many attorneys’ fees or having lawyers prepare court filings. The time you spend in mediation only requires the fees your attorney charges and mediation costs, such as reserving a room for the meeting.
• Confidentiality – When you enter a will into probate, it becomes a matter of public record. Every hearing you attend and the documentation you provide to the judge also become a matter of public record and accessible to anyone with access to the internet. Mediation is private. Outside parties can’t request the information or obtain copies of any documents that are used in the mediation.
• Flexibility – Mediation is more flexible than litigation. There’s room for discussing how you want to handle the matter and negotiating the terms of an agreement.
• Informal setting – Unlike courtrooms, mediation rooms aren’t as intimidating. Instead of standing before a judge, you can sit in a conference room, attorney’s office, or another relaxed environment to discuss the dispute. You can also speak freely about the case without the need to meet procedural requirements.
• More control – Each party involved in mediation has a say in the outcome of the case. Unlike litigation, where the judge issues a ruling, both sides have control over how to settle the matter.

Arbitration

Arbitration is similar to mediation in many ways. It takes place in an informal setting, costs less than litigation, and allows each side more control over negotiations.

Both parties can meet with an arbitrator during the arbitration to discuss the dispute. Each side has the opportunity to present evidence and testimonies and advise how they would like to resolve the issues. However, the arbitrator has the authority to issue a legally binding decision.

Contact Us

At Staubus, Blankenship, Legere and Walker PLLC, our Dallas estate accounting attorneys understand the stress and frustration of discovering the estate’s executor or administrator aren’t fulfilling their duties. You have a right to various accounting information while settling your loved one’s estate. Our team can represent your interests and pursue legal action on your behalf.

If you face a dispute regarding an estate’s accounting, call Staubus, Blankenship, Legere and Walker PLLC at (214) 833-0100 for your consultation today.

Dallas Estate Litigation Attorneys for Executor Misconduct

Before their passing, your loved one created a will and named an executor to administer the terms of the will during probate. However, you have major concerns over the way the executor has conducted their duties throughout the course of the process, and you have a lot of questions as to what an executor can and cannot do.

All executors of estates are fiduciaries, and they have the authority to distribute funds from the estate to pay off creditors and deliver inheritances to heirs and beneficiaries. Since they have access to a decedent’s financial assets, executors must act in accordance with all stipulations outlined in the will and administer the estate in the best interests of the estate instead of in their own best interests.

If you have concerns or questions about how the executor of your loved one’s estate is handling their duties, you can contact us for assistance. The Dallas estate litigation lawyers of Staubus, Blankenship, Legere and Walker PLLC have more than 100 years of combined legal experience, and we can sit with you and discuss your questions and concerns so that you understand exactly the estate executor’s roles and responsibilities. Call us at (214) 833-0100, or reach out through our online contact form to schedule a initial consultation. We are here to help.

Executor Responsibilities

Regardless of their relationship with the deceased or the decedent’s heirs and loved ones, an executor has several duties they must fulfill in their role. Texas Estates Code § 403.051 details the duties of an independent executor this way:

• The executor shall provide notices “regarding presentment of claims” to all beneficiaries and heirs named in the will as well as to all secured creditors who have a claim against the estate. These notices usually appear in a local newspaper and must follow a specific format.
• The executor must provide notice to any unsecured creditors who have a claim against the estate.
• The executor can approve, deny, or take no action on a claim, and they can classify claims based on priority for payment.

Executors must qualify with the court before they can be named. An executor must be an adult over the age of 18 and be of clear and sound mind. In Texas, those convicted of felonies cannot act as executors, and there may be conflicts of interests with a particular executor candidate, or the person may be found to be unsuitable for the task. Contact us today.

Executor Misconduct

Since an executor has access to a decedent’s financial assets, there is a tremendous amount of trust placed in the individual. While most executors conduct and fulfill their duties in confidence and with the utmost integrity, others seek to use their position for their own benefit. Even if the executor qualified for the role and was approved by the probate court, they can still act incompetently or improperly when administering the estate. Here are some of the common reasons for executor misconduct:

• Failing to follow instructions or file the will with the probate court – The executor must follow all stipulations outlined in the will and make a full account of all the assets to be distributed. The executor must also provide public notices to creditors, heirs, and beneficiaries within certain timeframes, and they have many other duties they must perform in accordance with their role.
• Gross misconduct, fraud, thievery, or mismanagement – The executor has access to the deceased testator’s assets and property. They may not take any of the funds for their own use. Also, the executor is prohibited from selling assets at prices below market value or otherwise misvaluing the estate’s property and assets.
• Executor cannot fulfill duties – The executor may become incapacitated or otherwise be unable to fulfill their duties as an executor.
• Conflict of interest – In certain situations, circumstances may arise that create a conflict of interest between the executor’s interests and the best interests of the estate.

Those who are dealing with an incompetent or unethical executor have the option of petitioning the court to remove the executor and name a new one. Contact us today.

Removing an Executor

The probate court has the authority to remove an executor of an estate with due cause. The court will typically not seek the removal of an executor on its own and will do so only after a petition from the estate’s aggrieved beneficiaries who provide evidence of executor misconduct.

Many times, a testator will name an alternative executor to step in should the primary executor not be able to fulfill their duties. If the will does not name an alternative executor, the court may look at other replacements, including surviving family members.

Contact Us for Help

You have been dealing with the loss of your loved one and have tried to move on. An important aspect of that process is administering your family member’s estate and completing the probate process. The last thing you need during this time is to have to deal with an unqualified or unscrupulous executor who either cannot effectively manage their executor duties or has essentially stolen assets from the estate for their own benefit.

Here at Staubus, Blankenship, Legere and Walker PLLC, our lawyers have more than 100 years of collective experience dealing with executor misconduct and other serious disputes and issues affecting estates. Our estate and probate litigation lawyers are among the best in the country, and we have earned AV Preeminent peer-review ratings along with many other top endorsements and accolades from our peers.

One of Texas’ premier full-service estate litigation law firms, we have successfully handled hundreds of complex cases involving executor misconduct, and we can help you through the process of investigating the executor’s actions and prosecuting their misconduct to the fullest extent of the law. We will aggressively fight to hold the executor responsible while assisting you with the selection and placement of a new executor.

We are fully prepared to do whatever we can to help you through this difficult process during this already troubling time in your life. You can call our law office at (214) 833-0100, or you can reach out to us through our online contact form.

Dallas Executor Fee Claims Attorneys

Serving as the executor of an estate is time-consuming and often challenging. If you are an executor, you should be aware that you are entitled to compensation for carrying out the duties that are assigned to you. This compensation will come directly from the estate.

You should also know that there are certain costs that you may need to pay out-of-pocket, which will then be reimbursed through the estate.

If you are the executor of somebody’s estate, the experienced Dallas estate litigation attorneys at Staubus, Blankenship, Legere and Walker PLLC can help you carry out your duties and obligations. Our legal team can also help you calculate and claim your executor fees and recover the expenses you incurred during the probate process. Contact us today at (214) 833-0100 to schedule a consultation with a qualified executor fee claims lawyer.

What Duties Does an Executor Have in Texas?

An executor is responsible for carrying out duties relating to administering, distributing, and wrapping up a decedent’s estate. Texas law requires that an executor fulfill the following tasks:

• Locate and notify beneficiaries named in the will
• Notify the decedent’s creditors
• Identify, collect, and take an inventory of all the decedent’s assets
• Take steps to maintain and protect those assets
• Pay the decedent’s outstanding debts
• If appropriate, bring a wrongful death suit
• Complete pending legal action the decedent was involved in
• Prepare and file taxes
• Account for assets and payments made by the estate
• Distribute these assets as outlined in the will

What Are the Executor Fees in Texas?

According to the Texas Estates Code, an executor’s fee is up to five percent of the total financial transactions of the estate. If the executor settles an estate worth $300,000, for example, they are entitled to up to $15,000 in executor fees if they have carried out their duties correctly and honestly.

The amount on which this calculation is based excludes certain assets, such as any amount in cash that the decedent owed at the time of death, as well as any cash the decedent held in a checking or savings account. The amount also excludes life insurance proceeds and assets with named beneficiaries.

It is important to note, however, that this five percent limit is a state law that is applicable if there was no mention of compensation in the decedent’s will or if there was no will at all. When creating the will, a testator may agree on their own fee with their chosen executor if they wish. The courts will uphold any amount set forth in a legally valid will.

Furthermore, if the executor feels that the five percent amount is insufficient for the amount of work they have put into administering and distributing the estate, they may be eligible to petition the probate court for a more substantial fee. Contact us today.

Can the Courts Deny Executor Fees?

Probate courts may deny compensation to the executor if the executor has not performed their duties in a prudent and honest manner. The same may happen if the executor is relieved of their duties prematurely.

Can an Executor Choose to Waive Their Fees?

An executor may elect to forfeit their fee at any time. In fact, this can be a good idea if the executor is also a beneficiary of the estate. Waiving executor fees can be a way of ensuring that they avoid any potential conflicts of interest.

What Transactions May an Executor Be Reimbursed For?

Many of the tasks that an executor must carry out can cost money. They may choose to pay for these things out of their own pocket and receive reimbursement later. Alternatively, they may use estate assets to pay these costs. It is important to have clarity about what you may pay for through the estate without conflicting with your fiduciary duties.

The Texas Estates Code outlines three categories under which you may be reimbursed or use estate funds:

• Maintaining the Estate – You are welcome to use estate assets or to be reimbursed from the estate for costs associated with maintaining assets in the estate. For example, you may want to pay to keep insurance on the house in order to maintain the value of the property. Using estate funds to keep harm from coming to the property is a fulfillment of your fiduciary duties.
• Collecting Assets – In many cases, it can be costly to find and collect assets that are owned by the estate. Expenses such as shipping, travel, and accommodation costs associated with the collection of assets count as reimbursable expenses for the executor.
• Asset Recovery – The final category under which expenses may be reimbursed through the estate are costs associated with attempting to recover estate assets or claims held by the estate. If the estate has claims that the executor must try to recover, the executor is eligible to be reimbursed for expenses related to that recovery. In some cases, however, it is more prudent to avoid recovering assets. This is especially the case if you would end up spending more money than the claim is actually worth when you are attempting to recover it.

When you are engaging in business relating to the above categories, it is important that you keep detailed records of your expenses so that you can demonstrate what the estate owes you in addition to your executor fees.

Contact an Experienced Dallas Executory Fee Claims Attorney

Fulfilling the duties of an executor is far from straightforward. It takes a lot of time and energy, and it can sometimes even be costly. Fortunately, you do not have to be alone in carrying out your duties as an executor. The experienced Dallas executor fee claims attorneys of Staubus, Blankenship, Legere and Walker PLLC are here to assist you with the legal complications, to help you meet filing deadlines, and ensure that you receive a fair amount of compensation for the difficult and often emotionally challenging work that your role requires.

Contact a member of our knowledgeable legal team today for a confidential consultation. Call us now at (214) 833-0100, and we will talk you through your options.