Whether you like the “Big Beautiful Bill” or not, it has resolved an important estate tax issue. Before the Big Beautiful Bill (BBB), the Federal estate tax exemption set by the Tax Cuts and Jobs Act of 2017 was set to sunset or end on December 31, 2025. However, the BBB has raised the Federal …
It comes to me as second nature, but when you are entering a real estate deal, you should hire an attorney. I am amazed at how many verbal land sales and homemade contracts I see. Homemade deeds with incorrect or insufficient legal descriptions are common as well. If you are going to invest your hard …
When most business owners think about estate planning, they’re usually focused on one thing: what happens to the business after they’re gone. And while planning for succession is essential, there’s another scenario that often gets overlooked—what happens if you’re still alive but unable to run your business? Incapacity isn’t just about catastrophic accidents or permanent …
After the Last Will and Testament, power of attorneys, and medical directives are created and the other crucial estate planning components are addressed, take some time to consider your unique family situation and the details that would make the transition more difficult to navigate following a death. As anyone who has lost a spouse or …
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”
If you are considering selling or buying real estate, or getting a divorce, drafting a Will or even forming a corporation, you will find advice at just about every stop you make. Co-workers may have said “You don’t need to hire an attorney. You can do it yourself.” Let me caution you to think very …
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 …
