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Estate Planning Is Not Just For Old People: The Benefits Of Early Estate Planning
Unfortunately, it's all too common for parents to put off estate planning to protect the settlement of their estates for the loved ones left behind because they don't believe they are old enough to think about this. Or, commonly, younger people believe estate planning is too expensive for them to take on at this stage in their lives. Neither of these things are true!
Read MoreUse This Slick Trick To Transfer Real Estate Without Probate In Texas
Texas law has recognized an estate planning trick that is extremely effective to help avoid probate and is 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 MoreAdvance Care Planning Tools To Help Avoid Probate
Sometimes, even when a person has drawn up a Will, probate of the Will may not be necessary. Advance planning with probate-alternative documents can avoid the need for probate in many cases.
Read MoreWhat 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. This is called probate as a muniment of title. It is a simple process compared to a full, regular probate.
Read MoreCost 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.
Read MoreWhen Can You Do A Small Estate Affidavit Procedure In Texas?
Has a loved one passed away without a Will? In some cases, you can avoid a lot of frustration by using a Small Estate Affidavit to legally transfer assets at very little expense to you.
Read MoreDo You Have a Blended Family? Estate Planning is Critical for You
Estate planning is especially important for people with blended families in the state of Texas. Without a Will, probate issues can be complicated and the result may not be what the deceased person might have wanted. If you have a blended family, here's how to provide for your estate to pass as you desire.
Read MoreIt's Not Too Late For A 'Postnup' Agreement
Even if you are married, it’s not too late to outline how your property will be classified, how your joint finances will be handled, and how you will support children from prior marriages. Find out how to set up a postnup agreement for your estate planning.
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 MoreCost Of Incorporation
If an attorney handles incorporation for you, he or she should take all of the steps necessary to set you up to go forward conducting business according to sound legal requirements to preserve the protection that is a primary goal of incorporation. This would include filing a certificate of formation with the secretary of state, drawing up initial bylaws or operating agreement (for a LLC), drawing up minutes of the organizational meeting, issuing stock or membership interests (for a LLC), and providing forms for minutes on an ongoing basis.
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