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A will can also set out your wishes for some of your belongings, but most property goes to a new owner When that property is owned jointly, it passes automatically to the surviving owner. Trust and estate attorneys can help you transfer property to heirs in the most tax-efficient way possible

Qualified Terminable Interest Property (QTIP) Trust A QTIP trust allows the trustor to maintain control Laws: Texas is a community property state, meaning that most assets acquired during a marriage are considered must carefully consider which assets will be included and ensure that they comply with Texas community property Homestead Exemption: Texas offers strong protections for homestead properties, which are primary residences This might include bank accounts, investment portfolios, real estate, and other valuable property.

with a free, no-obligation comparative market analysis of the value, which will have recent sales of properties similar to the inherited house, as well as similar properties currently for sale and the home’s estimated Limited authority means that the property can be sold, but the sale may require court approval.

A court cannot make decisions on your behalf about what happens with your property, accounts, or guardianship This is judged by the testamentary capacity of the patient, meaning that they know the type of property they have, the natural objects of the property, what details they are putting in their will, and the

As an example, if a husband and wife own a piece of property together, the property is automatically There is no distribution of property needed.

To keep people from giving away their property to qualify for Medicaid, there’s a penalty for the transfer there is no mortgage, another option is a reverse mortgage, which lets you withdraw the equity in the property with the loan being paid back at death or once the property is permanently vacated.

Houston will tell you that a solid plan will allow you to build a wall around your personal money and property A properly created corporation, such as an PC, LLC or LLP may also be necessary to separate the assets

Investment accounts Stocks and bonds Life insurance and Annuity policies Deeds for properties you own If there are certain items or properties that you want a specific person to receive, let your estate

The purchase of property or other major change in assets should be considered when reviewing the trust You want to be sure that all of them are properly titled and that they are accounted for in your estate

If you are a business owner, property owner or a professional service provider such as a doctor or dentist examples of some of the most common lawsuits against professionals: _          Personal injury on your property

reasons our estate planning attorneys see for family fighting after the death of a parent: Division of Property favorite car to your youngest son can help your other children accept your decision well before the property

gift and estate tax credit allows people to make gifts during their lifetimes and to transfer estate property In 2016, portability allows couples to transfer $10.9 million of taxable property to heirs without estate