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. Future changes in your circumstances could affect the efficacy of your Wills …
Recently a couple consulted with me regarding their bed and breakfast. While they normally do not go beyond the nightly bed and breakfast, they recently leased out their property for a wedding. Unfortunately, a guest has claimed to have been injured at the wedding. While their contract called for the lessee to provide insurance for …
Continue reading “Importance of Reading Your Insurance Policy”
I heard today on the radio that people who are perpetually late live longer. If that is the case, I’m going to live a long time. In fact, in study done in 2000 said there was a 75% probability for men living to the age of 78, 50% probability of living to 85 and a …
I see many clients who have created revocable trust, sold to them by someone promising tax and probate savings. However, the proper trust to achieve estate tax advantages is a lifetime Irrevocable Trusts. The assets in a Irrevocable Trust pass upon death free of estate tax. To achieve the estate tax advantages, the client needs …
A week or so ago, I read an obituary that reminded me that although the death of a loved one often brings families closer, it can often bring out animosities among family members that has long simmered. The unusual obituary started, “We are so grateful you have finally escaped the evil clutches of the greedy, …
While watching a law school classmate of mine handle a disputed estate in Fort Bend County, it occurred to me the best way to avoid a Will contest is to have a well written Will prepared by an attorney who can help you avoid potential conflicts. This week I will discuss reasons for contesting a …
You need an estate plan. This is true even if you don’t have a lot of assets. It’s also true if you’re young, or if you don’t have close family members. Estate planning means preparing for the inevitabilities of life. People get sick or hurt, and you need a plan in place to determine what …
Continue reading “Steps to Help Get Started on Estate Planning”
Occasionally, I still run into an old Contract For Deed for clients. In this outdated form of a transaction, the seller and purchaser enter into an agreement or contract stating that the purchaser will make payments over time and once a certain amount is paid the seller will deed the property to the purchaser. I …
The wisdom of making a Will is well settled as sound legal advice, and rightly so. Less talked about, but equally advisable for many people, is the use of gifts during one’s lifetime as a method for estate planning. Apart from the intangible benefits that flow from the fact that, as the saying goes, it …
Bait and Switch ScamIn a variation on the typical “bait-and-switch” scheme, a bank made a promotional offer of a “no annual fee” credit card, then changed the terms mid-year to require such a fee. A credit card holder sued the bank under the federal Truth in Lending Act (TILA). She alleged a violation of the …
Continue reading “Double Trouble- Truth in Lending, Crooked Casino Loses Big”
