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INHERITANCE RIGHTS OF ADOPTED, HALF-BLOOD AND STEP CHILDREN

When assisting families with real estate that has belonged to a family member, commonly there are questions about siblings which were either adopted, stepchildren or children from outside the marriage.  Therefore, in this week’s column I will explain how each of these scenarios may affect inheritance rights. The inheritance rights of adopted children are protected …

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Planning for Incapacity

Many families deal with loved ones who have unexpected events in life that lead to incapacity.  Whether it is a fall, heart attack or some other medical emergency, you should be prepared.  Therefore, in this weeks’ column I will discuss planning for incapacity and explain the alternatives. What does the term “incapacitated” mean? An adult …

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Making Inheritance Last

Recent research revealed that approximately a third of Americans who inherit money end up with negative savings within two years. Among those who inherit $100,000 or more, almost one in five lose it all through spending, donations, or mismanagement. If you’re about to inherit, there are several measures you can take to ensure your newfound …

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Ideas for Gifting Personal Items From Your Estate

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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TRANSFER ON DEATH DEEDS

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 …

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