Articles
Can A Person Name Co-Executors For Their Will?
Clients often ask me if they can name co-executors for their will. The reason they usually ask is that they don’t want to hurt the feelings of one of their children who could have been chosen as an executor. Or perhaps they have children who don’t get along well, and...
How Do I Probate A Will In Texas With Independent Administration?
How do I probate a will in Texas with independent administration? Well, probating a will in Texas usually takes less time and money than probating a will in other states as long as the will is properly written and executed (signed and notarized). This is all the more...
Will Estate Taxes Need To Be Paid When I Die?
In Texas, whether or not estate taxes will need to be paid when you die greatly depends on the size of your estate. Luckily for the vast majority of us, there is no need to worry. First of all, there is not an estate tax, sometimes called a “death tax”, at the state...
Can A Living Trust Protect My Assets?
Many people wonder if they can create a living trust for themselves in order to protect their assets. In Texas you cannot do this as long as you have direct control over the assets. If you created an irrevocable living trust, then you could have asset protection due...
What Happens To My Assets If I Die Without A Will?
If you die without a will in Texas, the Texas Estates Code has strict rules that dictate where your assets go. For many or perhaps people this strict assignment of their assets is not what they would have wanted. And for some people, due to their specific life...
What Is A Transfer on Death Deed?
In 2015 the Texas legislature created a new way for people to transfer ownership of real estate at the time of their death with what is called a Transfer on Death Deed (TOD). [also see A Lady Bird Deed Protects A Home Medicaid Recovery] The way it works is that the...
Usually Not All Of Your Assets Pass Through Your Will
It’s very important to keep in mind that usually not all of your assets pass through your will. This is something that many people don’t realize. And this can potentially cause BIG problems. Assets that don’t pass through your will are called non-probate assets. These...
Will My Bank Account Pass Through My Will?
Most people incorrectly believe that the money in their bank account will automatically pass through their will in whatever way the will dictates. However, it is very common for a bank account to be opened either as a JTWROS (“joint tenants with right of...
What Can I Do If I Think I Am Likely To Become Incapacitated?
If you think that you are likely to become incapacitated for whatever reason, you should strongly consider signing an estate planning document called a Declaration of Guardian. [You likewise might consider getting a Living Trust] And by incapacitated, I mean that due...
What A Special Needs Trust Can I Do For A Special Needs Child
Estate planning is important for everyone whether they have children or not, but having the right documents, like a special needs trust, in place is perhaps even more important for people who have a special needs child. If a parent of a special needs child does not...