Articles
What Is A Transfer on Death Deed?
Key Takeaways: Transfer on Death Deed (TODD): Texas Estates Code Chapter 114 lets property owners transfer real estate automatically at death without probate. Main benefit: No need for probate. The beneficiary only needs to file a copy of the death certificate at the...
Usually Not All Of Your Assets Pass Through Your Will
Executive Summary: Wills do not control all assets. Many people mistakenly believe a will dictates how their entire estate is distributed after death. Non-probate assets bypass the will. These are primarily financial assets such as checking and savings accounts, life...
Will My Bank Account Pass Through My Will?
Executive Summary: Your Will may not control your bank accounts. Certain accounts pass automatically outside of probate. JTWROS accounts pass to the surviving joint owner, while POD accounts pass to the designated beneficiary. These designations generally override the...
What Can I Do If I Think I Am Likely To Become Incapacitated?
Key Takeaways: Incapacity can leave you unable to manage your personal needs or finances. A Declaration of Guardian lets you tell the court who you want—or do not want—to serve as your guardian. You can name separate guardians for your person and estate, or the same...
What A Special Needs Trust Can I Do For A Special Needs Child
Executive Summary: Estate planning is especially important for parents of a special needs child. Improperly leaving assets directly to a special needs child can jeopardize important government benefits. SSI and Medicaid are needs-based programs with strict income and...
Is Estate Planning Expensive And Time-Consuming?
Quick Answer: Almost two-thirds of Americans do not have a will and other important estate planning documents like powers of attorney for no good reason. Enormous improvements in easily available technology have made it possible for some attorneys such as myself to...
What Is A Common Law Marriage In Texas?
Quick Answer: Per Section 2.401 of the Texas Family Code, three elements must exist at the same time in order to establish a common law marriage. Both parties must agree to be married. The couple has to live together as husband and wife while in Texas, i.e. they act...
Should I Get A Living Trust In Texas?
Quick Answer: The most common situations for when creating a living trust makes sense are: You own real estate outside of Texas. You really want to try to avoid probate on your estate to save time and money. You think you have a high chance of becoming mentally...
What Is Estate Planning?
What is estate planning? First of all, almost everyone has an estate, because an estate is merely made up of everything a person owns – cars, real estate, checking accounts, investment accounts, furniture, clothes, etc. So, dear reader, you are pretty much guaranteed...
Should I Get Power Of Attorney For A Parent?
“Should I get power of attorney for a parent?” If someone doesn’t already have power of attorney for your parent, then yes, you really should try to get one. And if you don’t think you should be the one to get power of attorney for your parent for whatever reason,...