by Keith Hajovsky | Aug 7, 2024 | Estate Administration, General Estate Planning, Intestate - Dying Without A Will, Marital Assets, Non-probate Assets, Wills
When you are married you have community property and separate property in Texas. Each spouse has full testamentary power (the ability to say who gets which of those assets in their will) over their own separate property, but they have testamentary power only over one...
by Keith Hajovsky | Jul 10, 2024 | Estate Administration, General Estate Planning, Non-probate Assets, Probate, Trusts, Wills
Having a will does not necessarily mean that all of your assets will get divided per the terms of your will. Assets that pass according to the terms of your will are called probate assets, and assets that do not pass through your will are called non-probate assets....
by Keith Hajovsky | Mar 27, 2024 | Non-probate Assets, Probate, Wills
Life insurance is often a significant part of someone’s estate. So does life insurance pass through a will? The short answer is that usually proceeds from a life insurance policy pass directly to whomever was designated as the beneficiary or beneficiaries on the...
by Keith Hajovsky | Jan 31, 2024 | General Estate Planning, Medicaid, Non-probate Assets, Probate
I have counseled several clients to use a what is called a Lady Bird Deed to protect a home from Medicaid recovery. [also see What Is A Transfer on Death Deed] The typical situation is that a parent or other loved one is elderly and has become so sick with an ailment...
by Keith Hajovsky | Nov 8, 2023 | Estate Administration, General Estate Planning, Non-probate Assets
Who will inherit my IRA? – If you have an IRA, you most likely have filled out a beneficiary form that dictates where those assets will go upon your death. And if this is the case, then your IRA assets will get distributed outside of the probate process. Nothing...
