As the 89th Regular Session of the Texas Legislature draws to a close, I thought it might be interesting to provide a legislative report covering significant bills impacting real estate matters in Texas. Senate Bill 17 SB 17 is one of several measures introduced this session aimed at restricting certain types of foreign ownership of …
Continue reading “Real Estate Matters In The 89th Regular Session”
While the simplicity of a Will driven estate plan in Texas is most favored, some situations dictate using a trust instead. Navigating the details of a trust in the pursuit of crafting an optimal estate plan can be overwhelming. All 50 states have different systems of probate. The ultimate purpose of probate is to transfer …
My Mother has always stressed the importance of water conservation to my family. As long as I can remember she said “Water is the most precious resource and we are going to run out.” There is a case before the Texas Supreme Court that could dramatically change ground water rights in Texas. So, in this …
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 …
Continue reading “INHERITANCE RIGHTS OF ADOPTED, HALF-BLOOD AND STEP CHILDREN”
There is no escaping death. However, how you organize your affairs can make life much easier for your loved ones. The reality is,less than half of all Americans have even the most basic estate planning documents. As a result, they voluntarily give up their freedom to decide what will happen to their assets when they …
Social security cards, birth certificates, marriage licenses, tax papers — we all have a number of documents in our home that it is important to keep safe. Unfortunately, I have had several clients with unexpected disasters like floods and fires or simply misplacing these items in a messy room. In Texas, we are subjected to …
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 …
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 …
This week I will provide tips for getting your estate plan organized. Before you sit down with your estate planning attorney, there are a few things you should do to make the process go a simply as possible. First, you need to define your goals. If you were to pass away, who would you want …
Many clients have asked me how to insure that a bank account or investment account passes to a particular person (spouse or child) without having to wait until a Will is probated. First, I would like to remind you that the amount of time its takes to probate an estate in Texas depends to a …
Continue reading “Joint Accounts with Right of Survivorship”
