• Home
  • About Us
    ▼
    • Gratia Schoemakers
      ▼
      • Community Outreach Program
    • Testimonials
  • Virtual Services
  • Estate Planning
    ▼
    • Estate Planning Basics
    • Last Will and Testament
    • Revocable Living Trusts
    • Durable Power of Attorney
    • Medical Power of Attorney
    • Living Will
    • Family Estate Planning
    • LGBTQ Estate Planning & Asset Protection
    • Kids Safety Plan™
    • Business Succession Planning
    • Guardianship
      ▼
      • Guardianship Planning
    • Special Needs Planning
    • Legacy Preservation Planning
    • Asset Protection
    • Trusts
    • Pet Trusts
    • Gun Trusts
  • Probate
    ▼
    • Texas Probate Guide
    • Probate of a Will
    • Texas Affidavit of Heirship
    • Texas Small Estate Affidavit
    • Texas Heirship Determination
    • Texas Muniment of Title
    • Trust Administration
  • Family Law
    ▼
    • Divorce
    • Collaborative Divorce
    • Mediation
    • Custody / Visitation
  • Blog
  • FAQs
    ▼
    • FAQs – Videos
    • FAQs – Estate Planning
    • FAQs – Beyond Money in Estate Planning
    • FAQs – Divorce and Estate Planning FAQs and Myths
    • FAQs – Estate Planning for Newlyweds Myths and FAQs
    • FAQs – Estate Planning for Young Adults
    • FAQs – The Estate Planning Cast of Characters
    • FAQs – Expecting an Inheritance
    • FAQs – Myths and FAQs – Planning for Conflict Prone Families
    • FAQs – New and Expanding Families
    • FAQs – Pet Trusts
    • FAQs – Probate
    • FAQs – Standalone Retirement Trust Myths and FAQs
    • FAQs – Trust Modifications
    • FAQs – Unwinding Obsolete Planning
    • FAQs – Why You Want to Avoid Probate
    • FAQs – Year-End Planning Myths and FAQs
  • Contact
    ▼
    • Virtual Estate Planning Login
    • Client Portal
  • Skip to primary navigation
  • Skip to main content
  • Skip to footer

PROTECTING YOU, YOUR FAMILY, YOUR FUTURE | SCHEDULE AN APPOINTMENT | CALL US TODAY! (832) 408-0505

GP Schoemakers, PLLC

Protecting You, Your Family, Your Future

BOOK AN APPOINTMENT

  • Home
  • About Us
    • Gratia Schoemakers
      • Community Outreach Program
    • Testimonials
  • Virtual Services
  • Estate Planning
    • Estate Planning Basics
    • Last Will and Testament
    • Revocable Living Trusts
    • Durable Power of Attorney
    • Medical Power of Attorney
    • Living Will
    • Family Estate Planning
    • LGBTQ Estate Planning & Asset Protection
    • Kids Safety Plan™
    • Business Succession Planning
    • Guardianship
      • Guardianship Planning
    • Special Needs Planning
    • Legacy Preservation Planning
    • Asset Protection
    • Trusts
    • Pet Trusts
    • Gun Trusts
  • Probate
    • Texas Probate Guide
    • Probate of a Will
    • Texas Affidavit of Heirship
    • Texas Small Estate Affidavit
    • Texas Heirship Determination
    • Texas Muniment of Title
    • Trust Administration
  • Family Law
    • Divorce
    • Collaborative Divorce
    • Mediation
    • Custody / Visitation
  • Blog
  • FAQs
    • FAQs – Videos
    • FAQs – Estate Planning
    • FAQs – Beyond Money in Estate Planning
    • FAQs – Divorce and Estate Planning FAQs and Myths
    • FAQs – Estate Planning for Newlyweds Myths and FAQs
    • FAQs – Estate Planning for Young Adults
    • FAQs – The Estate Planning Cast of Characters
    • FAQs – Expecting an Inheritance
    • FAQs – Myths and FAQs – Planning for Conflict Prone Families
    • FAQs – New and Expanding Families
    • FAQs – Pet Trusts
    • FAQs – Probate
    • FAQs – Standalone Retirement Trust Myths and FAQs
    • FAQs – Trust Modifications
    • FAQs – Unwinding Obsolete Planning
    • FAQs – Why You Want to Avoid Probate
    • FAQs – Year-End Planning Myths and FAQs
  • Contact
    • Virtual Estate Planning Login
    • Client Portal

FAQs – The Estate Planning Cast of Characters

FAQs – THE ESTATE PLANNING CAST OF CHARACTERS

“Estate planning is an important and everlasting gift you can give your family.
And setting up a smooth inheritance isn’t as hard as you might think.”
– Suze Orman

Estate Planning FAQs

Who should I pick as successor trustee?

For most trusts, you are going to be the initial trustee.  You will need to select a successor trustee to act when you no longer can.  To figure out how to select the right person for the job, first consider whether the trustee should be an individual or a financial institution.  If choosing an individual, pick someone you know who is diligent, detail-oriented, and whom you trust to carry out your clear instructions.

What does a successor trustee do?

A successor trustee (either an individual or institution) serves as a back-up, or replacement, to the original trustee (usually you) when the first trustee passes away or is incapable or unwilling to perform their duties regarding the management of your trust.  As successor trustee, he or she will be in charge of managing the assets owned by the trust and ensuring that the assets are managed or distributed according to the terms of the trust.

Should I pick a corporate trustee?

While it’s straightforward enough to pick a friend or family member you think will be up to the task, picking a corporate trustee is the best option for some people.  Banks and trust companies that focus on trusteeship provide expert management.  Being unrelated to your personal life, you can also rely on them to be impartial.  However, corporate trustees do charge for their services and may have minimum asset requirements.

What does a guardian do?

Guardians and conservators are court-appointed individuals who make decisions on a person’s behalf in the event of mental or physical incapacity.  These decisions can range from where you live to making sure that your bills get paid.  These court-supervised helpers can be avoided by adding proper powers of attorney, and explicit directions for them, to your estate plan.

What’s the difference between my health care agent and my financial agent?

While there is some overlap, health care and financial agents are two distinct roles in an estate plan. Your health care agent, also referred to as health care power of attorney or health care proxy, is responsible for making medical decisions on your behalf and may also implement your pre-arranged instructions if you experience incapacity.  Likewise, a financial agent can manage your money by paying bills, filing taxes, purchasing insurance, and adjusting investments for you if you become unable to do so yourself.  You may choose to appoint the same person or you may select different people.  It’s up to you to decide who is best for each role.

What does personal representative mean — is that different than an executor?

A personal representative is the same as an executor. This is the individual or institution named in a will who becomes responsible for carrying out the instructions provided in your will during the probate process.

What is a trust protector and do I need one?

A trust protector is an individual named in a trust to ensure that your estate planning goals and intent are carried out if the law or other circumstances change.  A trust protector can be empowered to update your trust without court interference or mandate to carry out your wishes.  This is extremely helpful once you have passed away and cannot make the changes yourself.  Although there is no legal requirement that you appoint one, a trust protector is often an excellent addition to an estate plan.

Who should be the trust protector?

This role can be carried out in a couple of different ways.  You can appoint an individual that you trust to step in if the need arises.  Because this is not a role that has ongoing responsibilities, there is not the same time commitment as that of a successor trustee.  You could also appoint an attorney or other professional to step in if necessary.

Call or contact the Law Offices of GP Schoemakers today to arrange a consultation with a reputable estate planning lawyer.  Attorney Schoemakers will meet with you to discuss your situation.

Trust attorney Schoemakers to help you determine the best way to manage your estate.  Call now to schedule an appointment with an estate planning lawyer in Clear Lake, Texas.

Get In Touch >

Footer

Clear Lake Location
1100 NASA Parkway, Ste 420J
Houston, TX 77058

Serving These Areas

Harris County and Galveston County
Houston
Galveston
Clear Lake
Friendswood
Dickinson
LaMarque
League City
Kemah
Pearland

Contact Us
Get Directions
(832) 408-0505

Privacy Policy
The information contained in this Website is subject to our Disclaimer and Terms and Conditions.