What is a Texas Transfer on Death Deed? A Texas Transfer on Death Deed is a document that names a beneficiary to inherit your real estate automatically when you pass away. It acts similarly to a “payable on death” designation on a bank account, but it applies specifically to real property, such as your home
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Muniment of Title is a method of probating a Will to transfer ownership of a residence. If you probate a Will as a Muniment of Title, a court accepts the Will to probate but will not open an estate administration. An estate administration is generally the process of appointing an executor to collect a deceased
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The short answer is yes—a Will does not avoid probate; in fact, a Will provides guidance to the executor to carry out the terms of the Will through the probate process. Probate is simply the legal method to transfer assets from the deceased person to the rightful beneficiary or beneficiaries. The Good News: Texas Independent
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A revocable trust is a popular request among estate planning clients. Individuals often request one due to a desire to avoid probate. While a great tool in some circumstances, a revocable trust also has a downside. It is a potentially effective means to ease transfer of assets to beneficiaries but requires more work to set
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What does a marital agreement have to do with your Will? A Will gifts property at the end of life. To determine how to gift your property, it is necessary to know what you own. This is where a marital agreement enters the picture. Marriage changes your relationship to your property; once you are married,
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Most people approach their Wills by considering to whom they want to leave their property; however, how they leave their property is equally important. When drafting a Will, consider implementation following death – i.e. the probate administration process. Your named executor is responsible for implementing your instructions in your Will. He will have a legal
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Texas law offers a variety of protections for a surviving spouse after death of a spouse, including the right to reside in the homestead. Upon death, the surviving spouse or minor children may request exclusive use of the home. In fact, the surviving spouse has the right to occupy the home exclusively for the rest
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Whether you are the named executor of a loved one’s Will or you’re considering whom to name as executor of your own Will, it’s important to understand the role and duties of an executor. The job of an executor can be daunting; it comes with a lot of responsibility and, often, little reward. An executor,
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Most people have heard of trusts but few know exactly what they are. So, what is a trust? A trust is a method of ownership of property that divides management of trust property from ownership of trust property. The trustee holds trust property for the benefit of a beneficiary. The trustee has the fiduciary duty
The marital relationship has wide-ranging impact throughout the legal world. Inheritance, creditor liability, personal liability, tax liability, employment benefits, Medicaid benefits, social security benefits—to name but a few—are all impacted by one’s marital status.
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