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 …
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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 …
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”
With the influx of people to Texas in the last few years, it occurs to me that many may not be familiar with the system of Probate in Texas. Probate is one of the most misunderstood words in the legal language, probate is simply the administration of a deceased person’s property or transfer of their …
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 …
Think of your estate plan as a living entity that needs to evolve with the changes in your life. Various life events such as the birth of a child, children growing up, changes in the family dynamics, fluctuations in your investment portfolio, career shifts, health changes, or relocation can all impact your estate plan. External …
Many folks have experienced a bad real estate deal. The best way to avoid a bad real estate experience is to hire a trusted real estate agent and close through a title company. Another common real estate practice to avoid is the method of seller financing was through a Contract for Deed. In this transaction …
It was recently brought to my attention that while many adult children are serving as caretakers for their aging parents, very few receive reimbursement for their time or trouble. I am not surprised by this and personally feel this is one’s obligation to their parents. Many children and grandchildren feel that helping their aging relative …
One of the greatest concerns for my clients is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Many seniors are watching their retirement funds or “nest eggs” shrink as the financial crisis affecting our country deepens. As a …
You may not be aware of this, but attorneys are required to participate in continuing legal education. The State Bar of Texas requires each attorney to participate in 15 hours of continuing legal education each year. However, if you participate in over 33 hours each year, you will qualify for membership in the State Bar …
Continue reading “Documents Commonly Reviewed as part of Probate”
