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Ownership of Out of State Property in Estate Planning

Estate planning can be complex, especially when you own property in multiple states. This can raise various legal considerations, potentially complicate the probate process, and increase the administrative burden on your heirs. Understanding the nuances of managing such a diverse portfolio can help streamline the process and ensure your assets are distributed according to your …

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Will or Trust?

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 …

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Groundwater in Texas

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 …

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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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