An inheritance lawyer, also known as a probate or estate lawyer, is a state-licensed attorney who helps personal representatives and heirs of estates handle the estate of a deceased person. An inheritance lawyer can be involved in various capacities based on the specific details of an estate. A probate lawyer’s role in settling an estate …
A Lady Bird Deed, also known as an enhanced life estate, is a type of real property interest. It grants ownership rights to one person ( the “life tenant”) during their lifetime and confers a future interest in the property to another person (the “remainderman”). A traditional life estate cannot be revoked or otherwise changed …
Texas Estates Code Chapter 201 is part of Texas law that covers the descent and distribution of assets of a deceased person who passed away without a will or other estate planning documents. When there is no will or trust to guide how property should be divided between the deceased’s heirs, the assets are distributed …
Texas Estates Code Chapter 308 is the portion of Texas law that discusses the notice that the personal representative of a deceased person’s estate must provide to beneficiaries and creditors of the estate. Texas Estates Code Chapter 308.002 requires personal representatives to provide notice to every beneficiary that is named in the will 60 days …
A dynasty trust is a type of irrevocable trust that can be used to pass wealth from generation to generation. Its primary purpose is to minimize taxes. While the property remains in trust, it is not subject to estate, gift, or generation-skipping transfer (GST) taxes. The person who initially creates the trust, who is known …
When someone passes away, all of the real estate and personal property that they currently own individually becomes “estate property.” This means that, until the property is distributed to the deceased’s heirs and beneficiaries, their assets are simply considered to belong to the estate. Estate property includes personal property like cash, stocks, vehicles, clothing, furniture, …
In Texas, while an executor of an estate does have to file an inventory, appraisement, and list of claims with the probate court, they are not necessarily required to show accountings to beneficiaries. A personal representative must file an inventory of the estate assets within 90 days of qualification. After that, in a dependent administration, …
Does an Executor Have to Show Accountings to Beneficiaries? Read More »
An IRA, or Individual Retirement Account, is a tax-deferred retirement savings account. Like most bank accounts, an IRA allows you to designate a beneficiary or beneficiaries who will inherit the account after your death. This enables you to pass an inherited IRA to your heirs outside of probate. If you and your siblings have jointly …
How Do You Split an Inherited IRA Between Siblings? Read More »
In general, a “muniment of title” refers to deeds and other written documents that prove title to property, such as wills and court judgments. Texas is the only state in the country that allows a will to be probated as a muniment of title. This allows smaller estates with limited debts and assets to avoid …
In Texas, you cannot assume ownership of someone else’s property by simply paying the balance of unpaid property taxes. However, you can purchase real estate, often at a discounted rate, at a tax foreclosure sale. According to Texas Tax Code § 32.01, a tax lien automatically attaches to real estate on January 1 of each …
What Happens If You Pay Someone Else’s Property Taxes In Texas? Read More »
Tortious Interference with Inheritance Rights is a type of lawsuit that is only allowed in certain states. This cause of action allows a plaintiff to sue a defendant who intentionally prevented them from receiving an inheritance or gift through fraud or coercion or undue influence. To succeed in a tortious interference with inheritance rights claim, …
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The Uniform Electronic Transactions Act (UETA) is a “model” legal code, which means that states must pass their own legislation for it to become law. The UETA gives electronic signatures the same legal validity as a handwritten “wet” signature for certain transactions that the parties have agreed to conduct electronically. Every state except New York …
Is Texas a Uniform Electronic Transactions State? Read More »