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Tips To Foreclose On A Real Estate Lien

You are the lender on an owner-financed sale of real estate, carrying the note secured by a lien on the property. The borrower is not complying with the terms of the note. You are now faced with the daunting prospect of foreclosure on your lien. 

The good news is that the lien foreclosure gives you a process to recover some or all of the money still owed you. The bad news is that you are going to have to deal with very complicated, tricky legal foreclosure steps to get there.

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Cost Of A Prenuptial Or Postnuptial Agreement

I have written about how a prenuptial or postnuptial agreement can be an element in an effective financial plan or an estate plan. Many people believe that it is very expensive to have a prenup or postnup drawn up. The expense will depend totally on the situation, and may not be nearly as large as you might think. 

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6 Key Questions To Help You Choose The Right Attorney

With so many lawyers out there, it’s difficult to know which is the right one for you. But you don’t have to settle for an attorney who isn’t a good fit for you or your legal matter.

When researching lawyers, there are 6 key questions to ask to help ensure a good fit. It’s especially important to work with a lawyer you are comfortable with and can trust.  

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Do I Have To Probate If There Was A Will?

Many times, clients with a loved one who has passed and had prepared a will assume that there must be a probate of the will. Sometimes, however, if your loved one has no assets that are not already disposed of by beneficiary designation or payable on death provisions, there is no need to probate a will. This frequently happens if they had already sold their home and were residing in a nursing home, and the only assets they still owned were liquid assets.

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What Is The Cost Of A Simple Estate Planning Package

People frequently delay drawing up a will or other pieces of an estate plan because of concern for the cost. However, the cost of preparing a simple estate plan package is very reasonable. Compared to the expense to handle your estate without a will or other estate planning documents, it is a bargain.

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When Is A Living Trust A Waste Of Money

One of my biggest pet peeves over the years has been the over-selling of living trust packages to folks doing their estate planning. There are definitely times when a living trust is a good estate planning tool. However, for many individuals a living trust is an unnecessary expense.                                                  

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Don't Wait Until The Holidays To Do Your Estate Planning (That Might Be Too Late)

The time of year is coming up for holiday travel and family gatherings. Holiday travel frequently causes clients to make a desperate last minute call to my office to make estate plans. If the call comes very close to the holiday travel date, it may not be possible to get the documents drafted in time. Attorneys like to take time off to enjoy the holidays too.    

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The Holidays: The Perfect Time To Talk To Your Family About Legal Arrangements

Now that we’re past Halloween, we are head-long into the holidays. Thanksgiving and Christmas are just around the corner, and soon, you’ll be surrounded by friends and family. Believe it or not, those are perfect times to talk to your loved ones about estate planning. After all, it beats talking about politics, doesn’t it? 


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When Is A Living Trust A Good Estate Planning Tool?

The term “Living Trust” has become a buzz word for people looking at estate planning information online or in other resources. Some of those sources of information simply may be a marketing tool to drum up business, without analyzing whether the expense involved in setting up a living trust is really justified for the individual.   

Years ago, traveling seminars would roll into town, serving steak dinners, and selling estate planning packages with living trusts for everyone, at a cost of several thousand dollars. Many of those people had absolutely no reason to have a living trust to deal with their simple estates.

My advice is that if you are thinking about a living trust for your estate planning, set up an appointment with a qualified estate planning attorney to fully discuss why you may or may not need one. 

Below are some of the reasons a living trust might be a good tool for your estate planning:

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Slick Trick In Texas To Transfer Real Estate Without Probate

For many people, their residence and other real estate comprises the biggest part of an estate that requires probate to pass title. Texas law has recognized an estate planning trick that is extremely effective and low cost, called a deed with a retained life estate or “Lady Bird” deed. This tool can be used for all types of real estate interests. If you have drawn up this deed to real property prior to your death, you might be able to probate entirely, if the rest of your assets have been designated with beneficiary or payable on death arrangements.

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