You may have heard that a recent lottery made millionaires out of some people. Because the jackpot was a record $64o million it was actually difficult to avoid news about it. You may have dreamed about what you would do with the money if you ever won that much in the lottery. But, have you ever considered what the first thing you should do is? The first thing you should do is to speak to an attorney experienced in financial planning and estate planning. The state lottery agencies like to make a … [Read more...] about What to Do After Winning the Big Lottery Jackpot
Adult Adoption is Not Always a Good Option
Gay and lesbian couples need to take special care when planning their estates. The law is not always friendly in making sure that your assets go to your partner when you pass away. In some cases, the assets might even go to an estranged family member who is not supportive of your relationship. Some gay and lesbian couples have attempted to get around the legal blockades with adult adoptions. The wealthier partner will adopt the other partner making the other partner an automatic heir under … [Read more...] about Adult Adoption is Not Always a Good Option
Do Not Use Your Will for Funeral Instructions
A written Will disposes of your personal and real property to your heirs and beneficiaries. You should not use your Will to give others information about your funeral wishes or instructions. Because your heirs or executor may not locate your Will for several weeks after you die, you should not use it to leave your funeral instructions. Instead, you should consider using last instructions or another type of separate written document to include your funeral or burial wishes. You should also … [Read more...] about Do Not Use Your Will for Funeral Instructions
Elective and Forced Share Laws Protect Spousal Disinheritance
Because most states’ probate laws prohibit spouses from disinheriting one another, how are famous celebrities able to do just that? Generally, they have a team of estate planning and domestic relations attorneys helping them protect their assets by using contracts entered into before marriage. These nuptial agreements are known as premarital or prenuptial agreements, and they may allow you to protect your property in case of divorce. However, state laws differ as to their validity. Typically, … [Read more...] about Elective and Forced Share Laws Protect Spousal Disinheritance
Don’t Play the Lottery With Your Children
If you have minor children, the odds of something happening to you while they are still young are not quite as high as the odds of winning the big Mega Lottery, but they are still pretty high. Unlike the small cost of a lottery ticket, however, the cost of not having an estate plan for parents of minor children is astronomical. You won't pay the costs; your children will. Also unlike the lottery, they will only pay the costs if their number hits. When parents do not make plans for who will … [Read more...] about Don’t Play the Lottery With Your Children
Elvis Presley’s Alleged Long-Lost Daughter Sues King of Rock and Roll’s Estate
Lisa Johansen, a 43-year-old Swedish woman filed a lawsuit in the U.S. District Court in Memphis, Tennessee for a whopping $130 million against the King of Rock and Roll’s Estate. Many media outlets broke the latest news at the end of 2011, and the case may be going to trial this year. Lisa Johansen is not a newcomer to national news. She made national headlines in the early 1990s when she broke into the King’s Graceland exhibition and attempted to steal his belongings by impersonating his … [Read more...] about Elvis Presley’s Alleged Long-Lost Daughter Sues King of Rock and Roll’s Estate
The Enforceability of Joint Promises to Will
Reciprocal Wills between spouses contain mutual promises to convey property leaving one another as the primary beneficiary to their community and/or separate property. In Texas, these contracts are enforceable if drafted properly. According to the Texas Probate Code, A contractual will is enforceable if a testator’s written Will incorporates the terms of the written spousal or joint contract and spouses execute an enforceable contract. Thus, to create an enforceable contract or testamentary … [Read more...] about The Enforceability of Joint Promises to Will
Guardianships in Texas
In Texas, courts can appoint guardians of the person or of the estate. A guardianship is a legally supervised process in which a guardian is responsible for a person’s property or person. The person receiving the guardianship is the “ward.” A guardian of the person is someone appointed to take care of the ward’s personal well-being. A guardian of the estate is someone appointed to take care of the ward’s personal finances and property. A guardian can make sure the ward is properly cared for and … [Read more...] about Guardianships in Texas
Texas Affidavit of Heirship
If you are an heir of a person who has recently passed away in Texas, you should speak to an experience Texas Probate attorney as soon as you possibly can. Unlike most other states, Texas has a special streamlined Probate procedure that you might be able to take advantage of to receive your inheritance more quickly and easily. The procedure is called an Affidavit of Heirship. In this procedure two disinterested witnesses swear under penalty of perjury that you are the heir of the deceased. … [Read more...] about Texas Affidavit of Heirship
Probate Passport Project
In 2011, the Texas Young Lawyers Association created the “Texas Probate Passport,” a new project which is essentially a pamphlet outlining the estate planning rights that Texans have. This new informational brochure is available electronically in PDF format, and you can access it by clicking here. The passport is a valuable legal tool that provides Texans with a rather detailed summary of what happens to their personal possessions and real property when they die with or without a will, or … [Read more...] about Probate Passport Project
