Today, this tip is being reposted by request of clients and friends! We’ve received many calls from people wanting to change their Will over to a Trust. The sole reason mentioned: to “Avoid Probate”. May we challenge the thinking on this and help bring...
There are no shortcuts in life (they say) but when it comes to a deceased’s estate upon death these may count: Shortcut #1 – Muniment of Title: If the deceased’s estate meets the criteria below then it is eligible for muniment of title which allows assets to...
If you own a “mineral interest”, then you may own up to 5 different rights associated with the minerals: Executive Right – the right to lease the minerals to an oil/gas company. Bonus Payment – the right to receive a bonus payment from the oil/gas company in return...
Trusts can be powerful tools in estate planning, offering benefits beyond basic Will provisions. Here are some more complex Trust strategies: Revocable Living Trusts: Offers management for beneficiaries and can avoid probate for Trust assets. Irrevocable Life...
Texas is a community property state. So, when you ask us if the property is his, yours, or yall’s; here is what we would tell you: Community Property – any property acquired during marriage. Separate Property – any property acquired by gift, inheritance, or before...
It is crucial for you and your spouse to have a good Will in place; especially if you have children under the age of 18. Why? Because you must decide who will be the guardians of the kids if something happens to you both. Here is an example of what you need in the...
