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 […]
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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
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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
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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
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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
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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,
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