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RNN LAW > Probate

The Benefits of Enhanced Life Estate Deeds in Texas

Are you a homeowner in Texas looking to protect your property and ensure its smooth transfer to your heirs? Enhanced Life Estate Deeds, also known as Lady Bird Deeds, could be the solution you've been searching for. As an attorney specializing in estate planning, I'm here to demystify this powerful tool and explain how it can benefit you and your loved ones. What is an Enhanced Life Estate Deed? An Enhanced Life Estate Deed is a legal instrument used in estate planning that allows property owners to retain control over their real estate during their lifetime while also providing for its automatic...

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Understanding Irrevocable Life Insurance Trusts in Texas

Introduction: As a Texas attorney dedicated to helping individuals protect their assets and secure their family's financial future, I often encounter questions about estate planning tools that can achieve these goals effectively. One such tool that deserves attention is the Irrevocable Life Insurance Trust (ILIT). In this blog post, I'll provide a comprehensive explanation of what an ILIT is, how it works specifically in Texas, and why it's an essential component of estate planning for many Texans. What is an Irrevocable Life Insurance Trust (ILIT)? An Irrevocable Life Insurance Trust (ILIT) is a trust established to hold life insurance policies outside...

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Understanding Transfer on Death Deeds: A Comprehensive Guide for Texas Residents

Are you a Texas resident looking for efficient estate planning tools to secure your assets and protect your loved ones' future? If so, you may have heard about Transfer on Death Deeds (TODDs) but might not fully understand how they work and how they could benefit you. In this guide, we'll delve into the specifics of TODDs and why they could be a valuable addition to your estate planning strategy. What Are Transfer on Death Deeds? Transfer on Death Deeds, also known as beneficiary deeds, are legal documents that allow property owners to designate beneficiaries who will inherit their real estate upon...

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Navigating Legal Partitions in Texas: Your Comprehensive Guide

Introduction: Legal partitions in Texas play a crucial role in property ownership, division, and rights. Understanding the intricacies of these partitions is vital for property owners, investors, and anyone involved in real estate transactions in the Texas. In this comprehensive guide, we'll delve into the legal aspects of partitions in Texas, offering insights and guidance to navigate this often complex terrain. Defining Legal Partitions in Texas: Legal partitions refer to the division or separation of real property among co-owners. This can involve physically dividing the property or assigning specific rights and interests to each party. In Texas, legal partitions are governed...

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Texas Medical Power of Attorney

A Texas Medical Power of Attorney is a document which is usually prepared by a Texas estate planning attorney as part of the estate planning process. The purpose of the Texas Medical Power of Attorney is for a person, known as the principal, to name an agent to make medical decisions on the person’s behalf if the principal is unable to make his/her own health care decisions. Texas estate planning attorneys typically provide the name, address, and phone number of the agent in the Texas Medical Power of Attorney. After all, the agent often needs to be notified of the principal’s...

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Texas Durable Power of Attorney

A Texas Durable Power of Attorney is an instrument that allows an agent to perform certain actions on behalf of another person, usually called the principal. A Texas Durable Power of Attorney is usually prepared in relation to a person’s broader estate planning, which includes a Last Will and Testament, Revocable Living Trust, Durable Power of Attorney, Medical Power of Attorney, Directive to Physicians, and other ancillary documents, all of which are usually prepared by a Texas estate planning attorney. However, the Texas Durable Power of Attorney may also be executed without the other documents. The Texas Durable Power of Attorney...

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What is a Partition?

In its simplest form, partition means a division of some object or idea. In everyday life, it probably most frequently refers to the division in a room, such as the sliding heavy curtains separating Sunday School classes at church. In a legal sense, though, it means the division of an interest. Although partition can apply to an interest in any asset, partitions typically arise in regards to real property. Further, courts review two primary types of partitions, a partition-by-sale and a partition-in-kind. As one might have figured, a partition-by-sale means that a court requires a sale of the property. A partition-in-kind...

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Help! I Owe Property Taxes on Inherited Property!

From time-to-time, clients will contact me because they owe property taxes on property that they did not even know they owned. Almost always, my client’s ownership arises from an inheritance they did not even know existed. Sometimes, the decedent is a fairly distant relative. Sometimes, the decedent is an estranged parent. Sometimes, it was just property that was forgotten over the generations. To many, this may seem like a “first-world” problem, and, to some extent, it is. However, the tax bill is real, the lawsuit is real, and the resulting foreclosure is real. Unfortunately, the value of the property is...

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Estate Planning for Blended Families

Blended families are a common occurrence in Frisco, Texas. However, meeting a spouse of a blended family that has their estate planning complete is rather rare. That is a problem because when a spouse dies without a will, and s/he has children from a prior relationship, the laws of the State of Texas are rather cruel to the surviving spouse. For instance, if a husband enters a marriage with two children, never signs a will after becoming remarried, and then dies, his children will own half of the house with their stepmother, as well as one-half of the personal community property...

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Transfer on Death Deeds

In 2015, the Texas Legislature created a vital new estate planning tool, namely, the Transfer on Death Deed. The Transfer on Death Deed will serve an important role in future estate planning needs by lessening, and sometimes removing, the burden of probate. The Transfer on Death Deed is similar to an Enhanced Life Estate Deed, which is sometimes called a Lady Bird Deed. So, exactly what is a transfer on death deed? A transfer on death deed is an instrument that transfers interest in real property from the transferor to beneficiaries named within the deed upon the death of the transferor....

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