I am trying to find the best financial solution to invest in real estate. I have paid off my house and would like to move in 18 months. I like this house and would like to hold on to it as a rental property. I will need the proceeds, either through the sale of the house, or from obtaining a... Read more »
While everyone could benefit from consulting with an attorney - and this website doesn't count! - you REALLY need to talk to one. Your idea is not at all unusual, but I see issues with: 1) property taxes (you don't want to screw up your homestead exemption for your primary residence); 2)...Read more »
I got married and legally changed my entire name. I am the agent on my parents Statutory Durable and Medical POA', and I am listed as a beneficiary in their wills as well. My financial institution is allowing me to attach a copy of the certified order of my name change to their POA's for... Read more »
Statutory Durable Powers of Attorney are tricky in that different financial institutions have different requirements. While the certified order may suffice for purposes of one financial institution, it may very well not for another. The safest bet would be to create new powers of attorney which can...Read more »
We have no kids. He is my beneficiary and I am his. He has his mother, I do not. I do have siblings and he has a sibling and a niece. Will parent, sibling or niece be due an inheritance from his or my will, even though we are each other’s beneficiaries?
It is always best to make your estate plan in the jurisdiction where you are living. If you are moving away from Texas to Puerto Rico for retirement, then wait until you have moved, see a lawyer in Puerto Rico, and make your estate plan under PR law.
There are a number of legal issues you must consider. Since you are not married, the purchase would be classified as creating separate property owned partially by each of you. However, Texas has a "common law marriage" regime that could allow either of you to claim marriage and try to...Read more »
Good Afternoon, Yes we can help with creating a Trust. Please call my office and speak with my calendar coordinator Sarah to schedule a free initial consultation. Thank you for reaching out and we hope to hear from you soon!
The status of the probate case is not clear, but before anyone can do anything with the house, two things have to happen: 1) There must be someone appointed to represent the estate - if there's no will, that means you need an administrator appointed. 2) The administrator would have the...Read more »
There are a few different ways to handle your issue. The simplest is a "Life Estate" where you deed the property back to yourself for the remainder of your life, then it automatically goes to the person you wish to obtain the property after you die.
No, of course not. Without some basis for why you would ask this, there's nothing more that I can say that would be relevant and helpful. If you have a lawyer, ask them. If not, I suggest you visit with a probate lawyer in your area ASAP to address your concerns.
When you say "I am executor" do you mean that the Will nominates you as Executor, or do you mean that you have a court order admitting the Will to probate and appointing you as Executor and granting you Letters Testamentary?
If you are nominated (but do not have the court order)...Read more »
Initially, posted at Probate Section. RE: Will includes: “...[1/3 of estate to my brother and me] the rest and residue of my estate in equal shares, share and share alike. In the event that my nephews have preceded me, I leave the share intended for the deceased nephew to the descent’s... Read more »
If your aunt (the Will's maker) is already deceased, you are waiting to receive your share, and then you die before your share is distributed - the answer is that it still goes to you, but is distributed as part of your estate pursuant...Read more »
I recommend that you speak with a probate attorney regarding this matter. It is likely that the credit card debt will be considered community property unless your father can prove otherwise. Also, if your mother and father had a Will or no Will, your father will need to go to probate court....Read more »
Both of my parents died in 2016. They were divorced in 1982 and in their divorce decree it states the home they owned was to be put in mine and my sisters name upon turning 18 at which point we could sell or live in. My father has another child from his second marriage is she entitled to any of... Read more »
The answer depends on who owned the property at the time of your parents' deaths. If you and your sister owned the property, then your parents' death doesn't give anyone else rights to the property. If your parents still owned the property, then all of their heirs (either under a...Read more »
I have a friend who recently passed away. A group of my friends including myself, 5 in total, would like to create and contribute to a fund for our deceased friend daughter. Is it possible to do so considering the contributors are in 3 different states (CA, TX, and GA) with the recipient being in... Read more »
This can be done. Usually the trust is created and seeded by one person and then it can receive contributions from other people. A really important decision you all need to make is who is going to be the trustee in charge of investing the funds and who is going to be the trustee in charge of...Read more »
You should definitely meet with a probate lawyer. You will want some sort of official legal documentation to show that you now hold title to your mother's portion of the property. Plus, you want an attorney to make sure you're getting your fair share. Contact a probate attorney to see...Read more »
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