All adults should have a will. Your Texas last will and testament allows you, rather than the state, to determine what should happen to your assets if you pass away. But if you do not follow Texas will requirements, the document will not be valid. What Are the Texas Will Requirements? To be binding and enforceable your will must...
Continue ReadingWhen it comes to estate planning, most people have heard of a last will and testament. While this is certainly a popular option for handling one’s estate, it is by no means the only option. In fact, a comprehensive estate plan will likely include both a will and a trust. In this article, our Texas estate planning lawyers will...
Continue ReadingMany think that estate planning is only for the ultra-wealthy, but that is simply not the case. If you have assets, you have an estate. If you have an estate, you need a plan. For assistance, please don’t hesitate to contact our Texas estate planning attorneys by sending us a message or calling (512) 410-0343 today. Below we will...
Continue ReadingProbate (noun): the process of winding up the affairs of a person who has passed away. The concept of probate can be confusing to clients (and even attorneys). In simple terms, probate is a lawsuit filed against yourself after you die – paid for with your own money – for the benefit of your creditors. If you have any questions...
Continue ReadingIf you have lost a loved one before, you know just how difficult it can be to manage their estate and affairs in the aftermath of their passing. Matters can become even more complicated if your loved one did not leave behind a comprehensive estate plan. Everyone will die some day—this is just an unavoidable fact of life. And...
Continue ReadingAs you may know, Texas is a community property state. This means that Texas law differentiates between community property, which belongs to both spouses equally, and separate property, which belongs to one spouse. In general, property acquired during marriage is community property. Separate property consists of anything one spouse owned before marriage, property acquired by one spouse by gift or inheritance,...
Continue ReadingIf you don’t have an estate plan, the state of Texas will ultimately decide who receives your property after your death, and a judge will decide who cares for your children (and pets). If this scenario makes you uncomfortable, consider making a comprehensive estate plan. There are many reasons to make an estate plan. The three reasons most commonly...
Continue ReadingThe “laughing heir” (one who inherits property and laughs all the way to the bank because his relation to the deceased is too distant to warrant grief) is a common conceit in television and movies. A woman opens the mail to find a letter explaining that one of her long-lost relatives has died and, as the relative’s only surviving...
Continue ReadingMost people don’t spend much time thinking about planning their estate. It’s complex, daunting, and quite boring. (Editors’ Note: We actually find estate planning incredibly fascinating! But we understand that’s not normal.) Here are some of the top excuses people make for not devising an effective estate plan… Estate planning is for wealthy people. This is a common misconception...
Continue ReadingA common misconception is that estate planning is only for wealthy people. In reality, there are a multitude of reasons for ordinary people have an effective will. Let’s consider a hypothetical example. Anna is a secretary who lives in Cedar Park and works in Leander, earning $40,000 per year. She is 29 years old, married, and has two daughters. Here are...
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