Ask a Lawyer, David L. Leon, Attorney, Dallas, Texas (214) 696-0021 » trusts

What is a fiduciary duty?

David Leon — Sun, 28 Jun 2009 23:14:22 +0000

A fiduciary duty is the highest standard of care one can owe to another. The fiduciary relationship is one of trust and confidence. The person or institution who owes the fiduciary duty must put the person’s interests above his or her own interests. Common examples of fiduciary duty include power of attorney holders, executors in wills, and trustees of trusts.

09/08/2009 -- Someone I know died having written a will. I know who has the will, but s/he refuses to file it for probate. (0)
09/08/2009 -- How does one qualify to be an administrator or executor of an estate? (0)
09/08/2009 -- How is it decided who will administer an estate? (0)
05/07/2009 -- Who can bring a lawsuit for wrongful death? (0)
28/02/2009 -- I think someone is abusing a power of attorney. How would I override the power of attorney? (0)
15/02/2009 -- Can an officer or director of a company be liable to the shareholders for actions taken on behalf of the company? (0)
15/02/2009 -- What is fiduciary litigation? (0)
15/02/2009 -- What are the different types of courts? (0)
01/02/2009 -- The original will was destroyed by a disgruntled heir. Can I probate a copy of the will? (0)
08/12/2007 -- I executed a medical power of attorney. Can someone override my decisions? (1)

What is a revocable living trust?

David Leon — Sat, 21 Feb 2009 00:44:28 +0000

A revocable living trust is a mechanism in which a person can title assets to a trust, but can still terminate the trust and take back the assets during his or her lifetime. Most trusts provide that the trust will become irrevocable once the testator (the person who sets up the trust) becomes incapacitated or dies. These revocable living trusts are typically used in complex estates, older people or unmarried couples. Contact us for more information about setting up a revocable living trust.

08/12/2007 -- Why are people telling me to avoid probate? (0)
25/12/2009 -- Are life insurance proceeds subject to the debts of the deceased person? (0)
09/08/2009 -- How does one qualify to be an administrator or executor of an estate? (0)
05/07/2009 -- What is separate property? (0)
04/07/2009 -- What is a ladybird deed? (0)
04/07/2009 -- How is a life estate set up? (0)
04/07/2009 -- What is a remainderman? (0)
04/07/2009 -- What is a life estate? (0)
28/06/2009 -- What is a fiduciary duty? (0)
28/06/2009 -- What is exempt personal property? (0)

Why are people telling me to avoid probate?

David Leon — Sat, 08 Dec 2007 15:36:55 +0000

In Texas, probate can be a very simple and inexpensive process, if planned properly. As such, probate avoidance should not be the goal of an estate plan. A more appropriate goal should be tax avoidance or ease of estate administration. This allows an estate planner to use the full suite of estate planning vehicles in planning. In some instances, a person may be worried about their beneficiaries or heirs fighting over estate assets. In other cases, people just don’t trust the court system, or are unfamiliar with the probate process.

09/08/2009 -- How does one qualify to be an administrator or executor of an estate? (0)
06/03/2009 -- How do I revoke a will in Texas? (0)
20/02/2009 -- How do you dispose of a deceased person’s property if there was no will? (0)
08/12/2007 -- I executed a medical power of attorney. Can someone override my decisions? (1)
09/08/2009 -- How is it decided who will administer an estate? (0)
09/08/2009 -- Someone I know died having written a will. I know who has the will, but s/he refuses to file it for probate. (0)
04/07/2009 -- What is a ladybird deed? (0)
04/07/2009 -- How is a life estate set up? (0)
04/07/2009 -- What is a remainderman? (0)
04/07/2009 -- What is a life estate? (0)