Everybody thinks it won’t happen to them. Or rather, everybody knows it’s going to happen to them eventually, but nobody thinks it’s going to happen tomorrow, or next week, or even next year. The “it” of which I speak is, of course, death. It is this perceived immortality that allows so many people to put …
Continue reading “The Comfort That Comes With Planning Ahead”
As hot as it is this summer, this maybe a good time to reorganize the closets, clean out those old files in the cabinet, and get rid of all those boxes in the garage. Call it “Extended Spring Cleaning” if you will. Anytime someone “Spring Cleans” seems to be a good time to take stock …
The New York Times has an interesting article on the value of an art collection in estate planning. That’s not something most people think about. After all, most people aren’t serious art collectors. Even among those who are, these collections usually exist more for personal satisfaction than financial gain. “Art investors are nearly …
Continue reading “Art and Sentimental Items in Estate Planning”
Do I probate my spouse’s Will? YES! A common misconception is that you do not have to probate a Will when your spouse dies. Real estate, like automobiles, is titled to convey ownership. The title defines who has legal rights to a property and it must be transferred when the property is sold. Title issues …
LegalZoom and other do-it-yourself document preparation services want you to believe that the process of preparing a Will is as easy as filling in the blanks on standardized forms. They try to lure you with a cheap product and a process that takes less than half an hour to complete. They try to assure you …
I have never been a fan of Reverse Mortgages. Reverse mortgages, usually obtained from financial institutions, allow people who are at least 62 years of age to convert their home equity into cash, which is received by the homeowner either as a lump sum, a line of credit, or monthly payments. The loan becomes due, …
Continue reading “ESTATE PLANNING WITH PRIVATE REVERSE MORTGAGES”
Proper execution of a legal instrument requires that the person signing have sufficient mental “capacity” to understand the implications of the document. While most people speak of legal “capacity” or “competence” as a rigid black line–either the person has it or doesn’t–in fact it can be quite variable depending on the person’s abilities and the …
Previously, I wrote about the importance of having a Texas power of attorney. In Texas, this instrument consists of a Durable Power of Attorney, Medical Power of Attorney, Declaration of Guardian, Directive to Physicians, Family and Surrogates and Disposition of Remains sections. While I often advise clients on the benefits of these instruments, far too …
Real estate is as HOT as the temperatures here in Texas. You hear of property selling before it is on the market. But don’t get in too big of a rush. What if you learned after you spent what is typically the largest expenditure in a person’s life, that your deed was not valid or …
Many of you know that my son, Jacob, was fortunate enough to be one of Texas A&M University’s mascot, Reveille’s caretakers last year. I am an Aggie, Class of ‘88, and thought I knew a lot about Aggieland,, but my appreciation for Reveille and her care grew watching Jacob compete and then care for her. …
