By Byron Berry | Published October 30, 2020 | Posted in Estate Planning / Probate | Tagged Tags: estate planning, living trusts, transfer title | Comments Off on Living Trust vs. Will: Which Is the Right Choice?
Living Trust vs. Will: Which Is the Right Choice?
If you are planning your estate, you probably have already figured out that wills and trusts are two of the most common tools available, but you may be unsure which one is right for you. Wills and living trusts each have their place, and you shouldn’t rule either one out until you’ve spoken with a Read More
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How Transfer-on-Death Deeds Can Help Avoid Probate
A significant goal of estate planning for many people is avoiding probate, the court process by which a will is proved and its provisions are carried out. The proceeding can be lengthy, expensive and complicated, especially for large estates with multiple creditors and contentious heirs. Among the ways to get around probate is to use Read More
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Charitable Gift Annuities and Your Estate Plan
Charitable gift annuities are a way to make donations to a nonprofit university, hospital or other charitable institution while receiving income and tax benefits in return. Donors (known as annuitants) can take a charitable deduction on their income taxes in the year the gift is made. In addition, they receive a long-term income stream. For Read More
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Is a Will Essential to Estate Planning in Texas?
While there is no legal requirement in Texas to have a will, it is highly advisable for an individual to draft one as part of planning an estate. A properly drawn will allows an individual to control the distribution of their assets following their death. A will can also be used to carry out other Read More
Read MoreHow Texas Bankruptcy Exemptions Are Preferable to Those in Federal Law
Bankruptcy is a legal process that allows people and entities to be discharged from paying all or part of their debts to creditors. It’s a common fear that filing for bankruptcy will result in the loss of one’s hard-earned assets. While it is true that some property may have to be sold off, there are Read More
Read MoreReverse Mortgages in Texas: An Overview
This article provides an explanation of reverse mortgages in Texas, how they work, and the eligibility requirements — it will also discuss the pros and cons of a reverse mortgage. Reverse Mortgages in Texas — An Explanation Many homeowners have accumulated equity in their home and consider encumbering their home with a reverse mortgage. A Read More
Read MoreRights of a Common Law Spouse
Here is an actual fact situation I have come across. Dad gets a divorce after 30 years of marriage. This marriage now has two grown children, named Kids. In June, Dad runs off to Hawaii and has an unofficial “promise” ceremony with Lady, and they live in bliss for all of three months before he Read More
Read MoreWhat are the Spousal Rights to Property After Death?
Here are the facts of the situation. Husband and wife are each on their second marriage and they purchase a home together. Husband dies and leaves a will leaving everything to his grown kids – who by the way don’t like his second wife. The second wife is very nervous about her situation and has a Read More
Read MoreEight Common Legal Mistakes Business Owners Make
Nothing conveys the American Dream much more than owning your own business. To some, there’s nothing better than having the ability to call your own shots and be the head of a company or organization. However, it’s highly important to make sure you have all your ducks in a row from a legal standpoint to Read More
Read MoreProbate 101: The Basics of the Probate Process
After a person passes away, his or her estate and all its components must be accounted for and distributed among heirs, inheritors and creditors according to a special court process known as probate. The probate process heavily relies on the executor—the person the deceased put in charge of protecting his or her property as outlined Read More
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