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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.

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.

Have you selected multiple beneficiaries on your life insurance, retirement account, and bank account? Now is a good time to double-check.

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.

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.

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.

I frequently am asked by prospective estate planning clients, "Do I need a trust?" The answer is the classic one: It depends.

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.

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.

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.