One of the main reasons to get a good Will signed is to have guardians of your minor children appointed. This is accomplished by including Will language like this: Guardian Provisions If my Spouse fails to survive me, or if he/she dies after my death without having...
Jim owns a valuable home on 3 acres. He does not have many other assets. His estate would not need to be probated if he did not own the home because he already took care of his bank accounts by listing his son as the POD (Payable On Death) beneficiary. Question...
Let’s say your company performed some work for Mr. X. He was pleased with the work. Wisdom would recommend you have him sign Release of Claims against you. Something like this: (Mr. X) releases and forever discharges (You and Your Company) as well as the Company’s...
2023: Death and Gift Taxes Certain taxes are triggered when you transfer assets upon your death (“Estate Tax”). Estate Tax Rate: 40% Exemption Amount**: 12.92mm per person (25.84mm if married) ** explained another way – you will not owe estate taxes if all the assets,...
You need these to properly form an LLC: **Certificate of Formation (filed with the State) Organizational Meeting Minutes Company Agreement Consent for a person to serve as Registered Agent Company Manual with completed Certificates **Many people only file this form...
TREC has updated their forms. Use these effective 2/1/23: One-to-Four Family Residential Family Contract (Resale) Farm and Ranch Contract Amendment to Contract Unimproved Property Contract New Home Contract (Incomplete Construction) New Home Contract (Complete...
