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answered on Nov 19, 2024
It is very important to have a valid Will to help avoid potential issues when you pass away and a long and more expensive probate proceeding.
Having a valid Will allows you to choose who inherits your properties/assets when you die. Without a Will, your properties / assets will pass... View More 
I am a retired educator and want to transfer my 403b to an IRA, but I am also considering opening up an Airbnb.
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answered on Nov 14, 2024
Yes both a traditional IRA and Roth IRA are exempt from creditors claims. You can see the Texas Property code section 42.0021 which covers both qualified tax deferred plans and subsection (a)(5) specifically names Roth IRA’s as an included plan. There are a variety of savings plans covered in Texas.
House left in an irrevocable trust. Got proof that husband was not in his right mind when he signed the documents. Had court and Judge ruled in favor of step son. So I might have to move. Is there anything I can do to be able to stay here until I pass away? I was told by an attorney that my case... View More
I am a retired educator and want to transfer my 403b to an IRA, but I am also considering opening up an Airbnb.
My dad was involved in a Roundup lawsuite that close to payout now, but the attorney handling his case will not accept an affidavit of heirship and and has told us they have to have sufficient proof of authority under Texas state law establishing her ability to settle my dad’s case on behalf all... View More
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answered on Nov 8, 2024
My condolences as it is always hard to lose a parent. You will need to start a probate proceeding in Texas. In most Texas counties they require that you have an attorney since you are not representing yourself actually you are representing the decedent's estate. One issue is that in Texas you... View More
My late brother's children sent me a letter asking for their fair share of the estate. Do I need permission from them to sell my parent's house if I am the only remaining member of our immediate family, as my mom passed last year, and my brother in 2013?
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answered on Nov 5, 2024
You will have to follow your dad's will, and probate it. Presuming he had a will. If he had no will, then the laws of intestacy of your state will govern who gets what. You will not be able to use the POA to sell the house, a POA "dies" when the person granting it died. You will have... View More
He has 3 adult children & 4 other grandchildren.
Is it possible to break the trust upon his and his wife’s death & share the approx $1,000,000 worth of land equally between his 3 children or 5 grandchildren or all?
He is 95 & he created the trust 10 or more years ago... View More
answered on Nov 4, 2024
If all parties agree - all beneficiaries and all trustees - the trust can be terminated. If any party objects, the party seeking to terminate the trust must bring a lawsuit to terminate the trust and have a valid reason for doing so. Otherwise, the trust will continue to exist until the date of... View More
60 year old company, appraised at $9m
If all proceeds go into my one trust and then I distribute it, will the taxes be the same as putting proceeds into 3 separate trusts?
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answered on Oct 22, 2024
When planning to sell your Texas company valued at $9 million and distribute the proceeds to your children, it's important to consider the tax implications carefully. Splitting the funds into thirds and using trusts can be an effective strategy to manage taxes and ensure your wishes are... View More
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answered on Oct 14, 2024
That depends? Is there a will? If so what does it say? If there is no will, it depends on where you live and what the law of intestacy dictates in your law. The fact that you stated "only living child" might imply that there are other children that predeceased, it might also mean there... View More
My grandad just passed away he had no will. So his oldest daughter is making decisions she is selling his property she claims will be divided. She ain't one to trust so what should I do to claim my father's part in his father's estate?
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answered on Oct 8, 2024
I would highly recommend that you consult with a probate attorney as there are numerous additional facts needed to provide an answer. If no application for probate has been filed then you could potentially open a probate case allowing for a legal distribution of the decedents property. You should... View More
Rift over family photos. Does pictures qualify as documents, paperwork..etc?
answered on Oct 2, 2024
Pictures are personal property and should go to the beneficiary who is designated to receive personal property. If there are multiple individuals, the pictures will need to be split between them. If there is ambiguity in the will, it can lead to costly litigation if the beneficiaries can't... View More
I’m reaching out from Galveston, Texas. I am currently facing an urgent legal matter regarding the estate of my late grandfather, xxx, in South Africa. I’m seeking your assistance and would greatly appreciate a free consultation to explore how I can move forward with this complex case.
answered on Oct 10, 2024
This forum deals mostly with U.S. law and courts. You could check with regional attorney directories in South Africa, and also with local bar associations. Most bar association websites have sections for attorney referrals. Good luck
i found that my mothers name was changed from hers to a mans and lists Schwartz and wilson as the executor. which looks like its funneled into Schwartz trust Lincolnton n.c.
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answered on Sep 24, 2024
You will need to hire a NC attorney to investigate this. Also ask your relatives what happened.
I would like to keep amenity and privacy while protecting assets from creditors before a problem arises.
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answered on Sep 18, 2024
Technically you could. But if the trust is not funded (no assets are in the trust), than it has no additional value. I think it would be best for you to talk to an estate planning attorney and discuss the assets that you do have, and how you can protect them. Trusts are great, but they might not do... View More
Would the answer to the question be different if it were Irrevocable Trust?
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answered on Sep 12, 2024
The check should be deposited in an account titled to the trust. To deposit the check to the trustee’s personal account would be a breach of fiduciary duty to the creditors and benefit the trust. The answer is the same whether the trust is revocable or irrevocable.
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answered on Sep 11, 2024
Presuming the house is a community asset, the husband can assign HIS share of the community property to whomever he wants. This will not impact the wife's share of community property. Same situation is valid for the wife.
So if the husband gifts his share to the wife, and the house is... View More
I wish to avoid probate and protect new Texas residence and retirement IRA accounts from Medicaid spenddown requirements.
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answered on Sep 18, 2024
You can hire a Texas attorney to do a restatement of your trust, it will allow you to update it to texas law. However a living trust is not the correct vehicle for medicaid reimbursement protection. You should talk to an estate planning attorney that focuses on planning for medicaid (elder law... View More
Dad's will in probate his widow states she is only beneficiary of dad's estate period. Also does not have to provide inventory list since she is ONLY heir. On aff. Of heirship on house she lies and says dad died without a will then 1 month later puts a will thru probate.
answered on Sep 5, 2024
It is possible to have both a trust and a will that affect an estate. If you are a named beneficiary in the trust, but your stepmother claims to be the sole beneficiary in the will, it is important to distinguish between what assets the trust controls and what the will governs. Trust assets... View More
I heard about this type of trust from a friend and want to get some information about it.
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answered on Sep 18, 2024
A ministry trust is a special kind of trust set up to give financial support to religious or faith-based groups, like churches or ministries. It’s a way for someone to make sure their money helps these organizations, even after they’ve passed away. Here’s how it works:
Supporting... View More
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