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A trust can give you flexibility in distributing your assets and can help you avoid probate. your estate” #AssetProtection #ProbateAttorney #TrustsandEstates #HoustonEstatePlanning #WillChanges #Probate

Children don’t have the right to inherit, and a father has every right to leave his kid or kids out of his will, says the article, “Your parent left you out of their will: What now?” from New Jersey 101.5. If the father is competent and not being unduly influenced by his current wife, he can decide to leave out the child from his first marriage. A husband frequently leaves everything to a spouse, even if it’s a second marriage. In some instances, a father may feel he’s being fair by leaving a child out of his will. It could be that the child from his first marriage is significantly older than the children from his second marriage. Perhaps he paid for the education of that older child or even put a down payment on the first home of that child. In light of this, the father may believe he must leave the rest of his estate to his other younger children in order to put them in the same position as his first child. Or maybe the father feels comfortable that his oldest child is successful in life and that his half-siblings are more needy. Another scenario might be that the father provided for the child from his first marriage in some other manner, such as by naming him as a beneficiary of a life insurance policy, IRA, or other payable on death account that does not pass under the will. Otherwise, if the father is competent, there is little a disinherited child can do. Upon the father’s death, a child could contest the will, claiming undue influence by his new wife. Reference: New Jersey 101.5 (November 19, 2015) “Your parent left you out of their will: What now?“ #EstatePlanningLawyer #HoustonEstatePlanning #WillChanges #HoustonWills #ProbateCourt #Inheritance #HoustonProbate #HoustonTrustsandEstates

Here are three simple steps you can take to reduce your stress and improve your financial well-being for the rest of 2016: Talk to your attorney. Discuss any major life changes, such as changing jobs, adding a new family member, retiring, or receiving a financial windfall. In most circumstances, these changes will have an impact on your tax situation and cash-flow, as well as your insurance and estate-planning needs. The earlier you can take them into account in your planning, the more beneficial and less stressful their impact will be. A little planning now can go a long way toward avoiding any surprises later. Organize your taxes. You should also gather up and keep your tax information organized. Don’t wait until the last second and scramble every April. Automate changes. If you automate savings, incremental changes will be easier to realize. For instance, you can automate your contributions to your 401(k). Some employers also allow you to set up an automatic annual increase in your contribution amount, allowing you to save more over time. You can also automate monthly deposits to savings plans, like a 529 college savings plan or other investment accounts. These steps may seem small, but each can dramatically improve your finances. Small wins at the beginning of the year will help you stay committed to improving your financial well-being for all of 2016 and beyond. Reference: Nerd Wallet (February 8, 2016) “3 Simple Steps to a Financially Strong Start in 2016” #AssetProtection #HoustonEstatePlanning #ProbateCourt #Inheritance #ClearLakeEstatePlanningLawyer #PowerofAttorney #Wills #TaxPlanning #Trusts

However, the Transfer on Death Deed is relatively new, is untested in any published court opinions, and FAQ: Estate Administration What is probate? If you don’t appoint an executor in your will, the courts will assign someone this role after you pass This can cause problems if the courts choose someone you do not trust. So if you pass away with a will, the courts will decide how to distribute your belongings.

once your divorce is final—with your divorce decree approved and the judgment rendered by the family court You Need To Do After Getting A Divorce” #AssetProtection #RetirementAccounts #HoustonEstatePlanning #Probate

What is the probate policy for the area? Unless there was advanced estate planning, the house and the estate will be required to pass through probate Talk with an attorney who specializes in probate law. After the executor is designated by the court, he or she will be given limited or full authority to sell 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 If you have a trust to avoid probate and distribute assets, the process might be easier for all parties To avoid probate, you may want to place your assets in an individual revocable trust for your children If a patient cannot create a will, the court will make decisions on their behalf  in the event of their The estate then goes into probate.

Without a will, the court will decide who will care for your children, and it may not be the person you Avoid probate — Probate is the legal process of distributing your assets after your death. It can be lengthy and expensive, and your assets may be tied up in court for months or even years. Estate planning can help you avoid the probate process and ensure your assets are distributed to your Trusts can help you avoid probate, minimize estate taxes, and protect your assets from creditors and

Does an LLC Go Through Probate? Whether or not your LLC goes through probate depends on how well your LLC is set up. Operating agreements can be used to help the LLC avoid probate. plan can prevent your LLC from going through probate. If you are doing will-based planning, it is all going to go through probate.

As Duke had never redrafted his will after his wife passed away, the trial and appellate courts declared However, the California Supreme Court ruled that an unambiguous will can be reformed by the court if Consequently, this is the reason courts have generally been unwilling to rewrite potentially mistaken It now appears probate courts in California will need to determine what a deceased person intended when

With the help of an attorney, you can file a petition for a hearing in probate court in the county that The court then attempts to determine if the “ward” is incapacitated and to what extent they are capacitated The court then determines whether or not the individual looking to be the responsible guardian is fit nursing homes and assisted living facilities in the state of Texas were required to request a copy of any court

If you should die without a legally proper will, the probate court may wind up making decisions about