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Probate As A Muniment Of Title: What Is It & What Does It Cost?

In this series of blogs, I am outlining various different types of probates or probate alternatives to settle an estate and their likely costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed. This type of probate is the least expensive formal, court-administered proceeding. 

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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 don’t 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.

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COVID-19 Pandemic Reminds People They Are Mortal: Estate Planning Is Really Important Now

 

If you’ve listened to the news over the last two months, you’ve learned that the COVID-19 virus can strike just about anyone just about any time, regardless of how careful you are or how healthy you are. The initial presumption that COVID-19 was only a serious concern for elderly, otherwise health-compromised people has proven untrue. Because of that, I have received lots of calls from clients of all ages who suddenly realized it might be time for them to look at doing their estate planning.

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Why Parents Of Young Children Need Wills

Most young parents don’t want to even think about the possibility of death and see no need for estate planning. However, if a tragedy struck and both parents of minor children were killed, the situation left for their loved ones to deal with is extremely complicated, expensive, and emotional.

 

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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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What Do I Have To Do To Foreclose On A Deadbeat Borrower?

You are carrying the note on the sale of a property, and the borrower has missed several payments, has failed to provide proof of insurance, or has not paid the property taxes. If your efforts to get them to comply have been unsuccessful, it may be time to foreclose on the property.

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What Is A Muniment Of Title Probate, And When Is It Appropriate?

Texas law provides for a shortened, less complicated, less expensive form of probate in specific circumstances called probate as a muniment of title. This funny-sounding procedure really means that your loved one’s will is officially recognized as valid by the probate court and placed of public record as notice to third parties to honor the terms of the will for transfer of property. This is a very simple process compared to a full, regular probate.

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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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Important Breaking Information On How The Coronavirus Is Affecting The Workplace

This is a very uncertain time for employers in Texas. One of the key issues employers are facing is how to pay employees who cannot work because they have the coronavirus, have to self-quarantine, have been ordered to shelter in place, or have children at home because school and daycare have been suspended. Guidance on these issues is coming forth daily. 

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Why You Need A Living Will And Medical Power Of Attorney

If you have ever gone through a hospital admissions process, you’ve likely been asked if you have a living will (also known as a directive to physicians) and a medical power of attorney.

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