A good friend and classmate, Matthew Crider, practices estate planning law in California. He wrote an article on the pros and cons of probate there, so this week, I have done the same for probate in Texas. Many times the term “probate” frequently carries a negative connotation. In fact, financial planners advise many individuals, …
I am amazed at how many times I am asked is “Do I need to probate this Will?” Unfortunately, when a spouse passes away, the surviving spouse is given misinformation that they do not need to probate their deceased spouse’s Will because they were married. This is not the rule of law. Unfortunately, many surviving …
We Americans relish our freedoms. We want to live how we like, spend our hard-earned money on what we want and carry automatic rifles if we so desire. And we resist when the government tries to interfere with our lives. However, less than half of all Americans have even the most basic estate planning documents. …
A common misconception is that you do not have to probate a Will when your spouse dies. Cheryl P. Rose’s column, Title Issues Can Complicate Real Estate Transactions, in the Senior Living section of this week’s Houston Chronicle, has some excellent points on why you must probate your spouse’s Will. Probate or estate administration is …
I am often asked to review out of state or older trust, so this week I thought I would discuss what a trust is and a few of the basic types of trust. A trust is a legal instrument that transfers title to designated property from the owner, called the donor or grantor, to a …
Attorneys often face co-ownership issues when advising on inheritance and probate avoidance. Inheritance in such cases may be determined by express language in a deed or a last will and testament, or in the absence of either, by intestacy provisions of the Estates Code. In some circumstances a co-owner may have no survivorship rights at all.
“THE LEGAL CORNER” By Sam A. Moak Estate Planning with Business Entities The information in this column is not intended as legal advice but to provide a general understanding of the law. Any readers with a legal problem, including those whose questions are addressed here, should consult an attorney for advice on their particular circumstance. …
