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When Can You Do A Small Estate Affidavit Procedure In Texas?
Frequently, people whose loved one dies without a Will fail to take any action to transfer property because they dont think the estate is large enough to mess with. This leaves loose ends that must be dealt with years later, when finding the people necessary to legally make the transfer is much harder. To avoid this result, the State of Texas allows the heirs to legally transfer assets at very little expense through a procedure called a Small Estate Affidavit.
Read MoreWhat Do I Do If A Loved One Dies Without A Will?
When a loved one dies without a Will, you have two options: determination of heirship or Affidavit of Heirship. These are the steps involved in both proceedings, as well as best practices to follow.
Read MoreCaution: Be Sure To Set Up Beneficiary Designations Correctly On Life Insurance, Retirement Accounts, Brokerage Accounts, & Bank Accounts
Have you selected multiple beneficiaries on your life insurance, retirement account, and bank account? Now is a good time to double-check.
Read MoreSlick Trick In Texas To Transfer Real Estate Without Probate
Texas law has recognized an estate planning trick that is extremely effective and low cost, called a deed with an enhanced retained life estate or “Lady Bird” deed. This tool can be used for all types of real estate interests.
Read MoreProbate Process In Texas Is Not That Scary
The thought of having to do a probate for a deceased loved one is often scary. Although the legal process can appear complicated to a layman, an experienced probate attorney can comfortably guide you through the process.
Read MoreHow Much Does It Cost To Set Up A Guardianship?
I frequently get calls about setting up a guardianship for a person who cannot manage their own affairs. Unfortunately, the people calling have no idea the expense involved in setting up a guardianship. Guardianships are complicated and time consuming. To put it simply, guardianships are very expensive. There are many steps involved in establishing a guardianship and a great deal of court involvement.
Read MoreDo I Need A Trust?
I frequently am asked by prospective estate planning clients, "Do I need a trust?" The answer is the classic one: It depends.
Read MoreDo I Have To Probate If There Was A Will?
I have addressed in another blog several steps that can be taken as part of the estate planning process that help avoid the need for probate. If those steps were not taken, a full probate still may not be needed.
Read MoreThe Average Cost Of A Determination Of Heirship Proceeding In Texas
A small estate affidavit will not always work, however. In some situations, you may need a determination of heirship. If you find yourself in this situation, make sure you have an experienced attorney to guide you through the steps involved. Otherwise, it is easy to feel overwhelmed by the process.
Read MoreWhen 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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