If you’re child has problems, has become the black sheep of the family, or has other issues, you may think about disinheriting him. However, disinheritance has life-long affects on this child, his siblings, his children (your grandchildren), your spouse, and your family as a whole. You may not realize it, but disinheritance is a shocking and earth-shattering measure. After all, money equals love in our psyches; and, your entire family may be pulled apart. Governmental Assistance Have … [Read more...] about You Don’t Have to Disinherit Your Child
Online Legal Forms are NOT the Same as Getting Advice from an Estate Planning Attorney
Downloading forms from the internet or copying forms from a book at the library are not the same as getting individual advice from an estate planning attorney, no matter what LegalZoom says. LegalZoom, the “big daddy” of online legal forms, is being sued in California for practicing law without a license and deceptive business practices. The case is a class action case, representing approximately 3,000 Californians who have purchased estate planning documents from LegalZoom. In the … [Read more...] about Online Legal Forms are NOT the Same as Getting Advice from an Estate Planning Attorney
Probate Estates Cost More than Non-Probate Estates Because They’re a Pain
Probate estates cost more than non-probate estates because they drive probate attorneys (i.e. estate planning attorneys) bonkers. They’re a pain with many more legal hoops to jump through than settling an estate wherein probate is not required (such as in the case of a fully funded revocable living trust.) First, probate rules are different for each county. There are 24 counties in Maryland, including Baltimore City; therefore, there are 24 different sets of probate rules. There is a lot … [Read more...] about Probate Estates Cost More than Non-Probate Estates Because They’re a Pain
Estate Litigation: Why a Trust may be Disputed
Like contesting a will, disputing a trust is an emotionally charged and complex issue. While trust disputes are not as common as will contests, they do occur and are often based upon the same type of issues. 1. The legality and validity of the trust itself. With the plethora of online tools to create a trust, there can be legal issues that occur with improperly prepared documents as well as documents that may not reflect the true intentions of the person creating the trust. 2. Removal of … [Read more...] about Estate Litigation: Why a Trust may be Disputed
Estate Planning and Asset Protection
Asset protection is an important aspect of completing a comprehensive estate plan, but exactly what is it and what can it do for you? Many consider asset protection to be a strategy used by those in professions that are exposed to litigation, such as a doctor, to protect their assets from potential claims. While this may be one aspect of asset protection, estate planning considers asset protection for other purposes as well, such as: Protecting family assets from claims of creditors of … [Read more...] about Estate Planning and Asset Protection
Texas History – How Big It Is!!!
In terms of land mass, Texas is larger than five (5) contiguous nations in Western Europe, and larger than thirteen (13) contiguous U.S. states. Texas shares a common boundary with four (4) U.S. states (New Mexico, Oklahoma, Arkansas, and Louisiana), and four (4) Mexican states (Temaulipas, Nuevo Leon, Coahuila, and Chihuahua). … [Read more...] about Texas History – How Big It Is!!!
Four Things that do not Belong in a Will
Creating a will is the cornerstone of estate planning – a will names a guardian for minor children, names an executor for an estate and allows you to distribute your property. While wills are certainly critical, they are not the place for all of your estate planning directives. Some of the issues that should not be addressed in a will are: Medical Directives A will is not read until after you pass, so advance medical directives, a set of documents that address medical and power of … [Read more...] about Four Things that do not Belong in a Will
Thought for the Day – Be a Good Friend
Be a presence for good in your community by being friendly, kind, and caring. Greet others with a wave and a cheerful smile. Be thankful for your friends. … [Read more...] about Thought for the Day – Be a Good Friend
Don’t Wait for an Emergency to Create a Will
Robert Porter of Kerville, Texas was trapped in his car for three days recently. The 85-year-old World War II veteran did not think he would survive, so he decided to write his Last Will and Testament — on his car console. Fortunately, Porter was rescued and his car-console Will was never executed. Handwritten or "holographic" Wills are legal, in Texas and other states, even if they are not witnessed. Such Wills must be entirely in the testator's handwriting and signed by him or her. Porter's … [Read more...] about Don’t Wait for an Emergency to Create a Will
Co-Executors Can Mean Trouble
A Texas appeals court recently waded into a sibling rivalry between a brother and sister who were named co-executors of their mother's estate. The brother convinced a trial court to disqualify the sister as "unsuitable" under state probate law. But the court of appeals reversed, noting, "We have found no authority suggesting that family discord alone is enough to determine that a person appointed in a will to serve as executor is unsuitable." Yet family discord is why it was probably … [Read more...] about Co-Executors Can Mean Trouble
