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Lien foreclosure gives you a process to recover some or all of the money still owed you. Unfortunately, you are going to have to deal with very complicated, tricky legal foreclosure steps to get there. When you are faced with foreclosing on your lien, you will need to get an attorney, follow their advice closely, be patient, and be prepared to resell the property if needed.

Here are three simple tools that help you pass on assets at death without the necessity of probate, saving all parties money, time, and stress.

Prenups may be beneficial to a couple marrying, whether or not they are rich and famous. They are not just a contingency plan for a possible divorce. In fact, prenups can be an important tool for your estate plan, particularly if you have children from a previous relationship or more property going into the marriage.

Preparing a Will is a smart, compassionate, financially wise, and easy thing to do. So, stop making excuses, and do it! Anyone who has been through settling an estate for a loved one who failed to make a Will can attest to how much they would have preferred the alternative.

When a loved one dies without a Will in Texas, you have three options: 1) if statutory requirements are met, a Small Estate Affidavit probate, 2) a formal court Determination of Heirship and estate administration, or 3) an informal Affidavit of Heirship document. These are the steps involved in these proceedings, as well as best practices to follow.

There are two types of probate where there is a Will in Texas that can be followed to distribute a loved one's estate after he or she passes away. Formal probate is a longer, more complex process. On the other hand, probate as a muniment of title is a simple and affordable way to ensure your loved one's assets are distributed as required in the Will. The type of probate applicable to your situation will depend on a number of factors.

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 of handling your estate without a Will, it's a bargain.

If your loved one died with a Will, there are several different types of probate available in Texas. The complexity of the proceeding and the cost varies widely depending on which type of probate you can or must use to pass your loved one's estate. The simplest and least expensive type of probate is known as a "muniment of title" proceeding.

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.

Many people are afraid of drawing up a will and doing other estate planning because of the perceived high cost. The truth is, drawing up a will is a small cost compared to the cost of probate of an estate if you die without a will and own almost any property.