If you are considering selling or buying real estate, or getting a divorce, drafting a Will or even forming a corporation, you will find advice at just about every stop you make. Co-workers may have said “You don’t need to hire an attorney. You can do it yourself.” Let me caution you to think very …
There is no escaping death. However, how you organize your affairs can make life much easier for your loved ones. The reality is,less than half of all Americans have even the most basic estate planning documents. As a result, they voluntarily give up their freedom to decide what will happen to their assets when they …
Social security cards, birth certificates, marriage licenses, tax papers — we all have a number of documents in our home that it is important to keep safe. Unfortunately, I have had several clients with unexpected disasters like floods and fires or simply misplacing these items in a messy room. In Texas, we are subjected to …
Many families deal with loved ones who have unexpected events in life that lead to incapacity. Whether it is a fall, heart attack or some other medical emergency, you should be prepared. Therefore, in this weeks’ column I will discuss planning for incapacity and explain the alternatives. What does the term “incapacitated” mean? An adult …
Recent research revealed that approximately a third of Americans who inherit money end up with negative savings within two years. Among those who inherit $100,000 or more, almost one in five lose it all through spending, donations, or mismanagement. If you’re about to inherit, there are several measures you can take to ensure your newfound …
Throughout our lives, we accumulate various belongings, some of which hold sentimental value or monetary worth. It’s crucial to ensure these items are allocated according to your wishes after your death. Here’s how you can ensure a smooth distribution process. How to Distribute Your Belongings Use a Personal Property Memorandum: If you want a specific …
Continue reading “Ideas for Gifting Personal Items From Your Estate”
A transfer on death deed transfers an interest in real property from the owner to a designated beneficiary(ies) effective at the transferor’s death. This was established in 2015 by the 84th Legislature and is addressed in the Texas Estates Code §114.051. Originally, the State adopted promulgated forms for these deeds. However, in 2019, the 86th Legislature removed …
A lot of what I do as an estate planner is help you protect your assets: I help you protect your assets for your children when you die, help you protect your assets when you are elderly and need long term or nursing care, help you protect your business or investment assets from frivolous law …
Many clients have asked me how to insure that a bank account or investment account passes to a particular person (spouse or child) without having to wait until a Will is probated. First, I would like to remind you that the amount of time its takes to probate an estate in Texas depends to a …
Continue reading “Joint Accounts with Right of Survivorship”
I am commonly asked, “how long will the probate take?” My patent response is, “that depends a great deal on how organized your loved was.” If, like so many, you are prone to disorder in the keeping of important documents, assuming that you keep them at all, you may be well past due for a …
