Get free answers to your Estate Planning legal questions from lawyers in your area.
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.
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
My condolences as I lost my mother 3 years ago and know that is extremely painful so sorry for your loss. To answer your question, No, the authority granted by the power of attorney terminated at the time your dad died. Since he didn't have a Will the rules provided by Texas's estate code... 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
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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
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
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
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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
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
Dad died. Stepmother put will thru probate . Told court judge she is ONLY heir of my dad. Then she draws up an estate settlement & distribution papers wanting us kids from previous marriage to sign giving us nothing & us signing over all separate property and two houses to her to do w as... View More
answered on Aug 29, 2024
A trust governs what has been contributed to it. Since the trust was never funded, it essentially does not exist.
Anything not in the trust (and not passing as a pay on death bank account, transfer on death brokerage account, or to a designated beneficiary of a life insurance policy,... View More
Dad died. Stepmother put will thru probate . Told court judge she is ONLY heir of my dad. Then she draws up an estate settlement & distribution papers wanting us kids from previous marriage to sign giving us nothing & us signing over all separate property and two houses to her to do w as... View More
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answered on Aug 29, 2024
Not necessarily. In most cases when there is a trust, the will is a pour over will leaving everything to the trust. However, the only way to find out is to see what the will says. Once a will is being probated, they are part of the public records of the probate court in the county where probate is... View More
I applied for legal assistance through Texas legal aid and was told the executive director didn't handle the shares properly and I was told to get a private attorney because I have a case.
answered on Aug 13, 2024
Yes, our firm handles such cases. However, this is not the type of case that a private attorney is likely to handle on a contingency fee. You should assume that you will need to pay a reasonable fee at an hourly rate for services and deposit a reasonable initial retainer before a private attorney... View More
If a will stipulates that each heir receives 25% of assets and there is a specific financial account that has listed two beneficiaries, would the amount received from that account count as part of the division of assets?
answered on Jul 26, 2024
If an account specifically names POD beneficiaries, the funds on deposit in that account become the property of the beneficiaries upon the death of the account holder outside of the decedent's probate estate.
The decedent's Will only disposes of assets in the decedent's... View More
I recorded two documents with County Clerk on same day: (1) Cancellation of Transfer on Death Deed (using Texas Transfer Toolkit Dec 2015 form) to revoke a TODD I recorded in Jan 2016 and (2) revised TODD which carries the Document Number following the one assigned to the Cancellation.... View More
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answered on Jul 23, 2024
You definitely have a title problem. Hire a TX attorney to search the title, then draft some replacement deeds and some correction deeds. The consideration clauses should explain what each deed's purpose is, and will also need extensive derivation of title clauses to avoid confusion.
Her lawyer buried us in paper work now lawyers want 5k /10k retainer we are on fix income we are not showing up in court my mom has Alzheimer's I have a Dr letter for her I don't want to go to court with out a lawyer can not afford one not fair bottom line can I be held in content of... View More
answered on Jul 12, 2024
If your brother had children, his estate will pass to those children or their descendants. If not, your brother's estate will pass to his parents, which would include your mom if she was also his mom.
Your brother's ex cannot inherit anything from your brother's estate... View More
Back taxes and the city is about to sell the house and she loses it. There is a will my dad left for the house but she never filed it. If the house was sold it would be split among us children. These taxes are from her failing to pay them the past two years since my dad died. How do I gain control... View More
answered on Jul 1, 2024
A power of attorney expires when the maker dies. When your dad died, any power of attorney he signed naming your sister ended.
Since your father left a will and you are an heir under that will, you have the right to file an application for probate of the will. If someone else (e.g. your... View More
answered on Jun 28, 2024
Property that is jointly titled does not automatically pass to the survivor unless specifically titled as "joint with right of survivorship." Otherwise, each owner on the title owns an undivided 50% interest in the property that passes to that owner's heirs as provided by law.... View More
I live in Texas
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answered on Jun 19, 2024
Making a Will or a trust with your wife as only person to inherit would be a good start. Then like my colleague say, ensuring that your beneficiary designations are up to date, as well as any POD designations on accounts, and if applicable transfer on death designations on your home and... View More
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