Marriage makes life easier in many ways. If one partner in a marriage becomes incapacitated, then the other spouse can make important healthcare and financial decisions for that person. If one spouse passes away, then any community property passes to the remaining spouse. Unmarried couples often do not have many of these rights. As a result, estate planning for unmarried couples is much different from estate planning for married partners. Note that Texas law does recognize common law marriage. If your relationship meets the standards of a common law marriage, then your estate planning needs to account for that. Include Each Other In Your Wills A will is one of the first and strongest estate planning documents you can have. It will allow you to leave assets and property to your spouse. It will also help you plan out which of your beneficiaries will receive certain portions of your estate.…Read More
In estate planning, a power of attorney is a written legal document that offers power and authority to another person over specific things on your behalf. It allows another person to “step into your shoes” with tasks that can be either very general or extremely specific. In order to be considered a power of attorney, however, the document must have specific provisions by law. Many people are unaware of how a power of attorney can benefit them in their estate planning, mainly because they believe in some common misconceptions relating to it. What Are These Misconceptions Relating To A Power Of Attorney? You can sign a power of attorney if you are incompetent: Once your loved one has lost physical or mental competence (this competency level must be determined by a physician), they are legally prohibited from signing any legal documents, including a power of attorney or living trust. This…Read More
The process of probate involves the compensation of any final expenses and the transferring of property and estate assets to beneficiaries after a person dies. Probate is a legal process, but it does not mean that a probate judge has to be there along every step of the probate process, nor does it mean that you have to appear in probate court. Each state has its own set of probate laws, but most states allow a tsteype of informal probate that has its own unique benefits. What Is Informal Probate? An informal probate, which is also called an informal family settlement in Texas, is a common substitute that people use if an estate is small and has mostly personal property. Informal probate is best used when the person who died left only personal belongings such as clothes, and other personal household items. Texas courts enforce family settlement agreements even if…Read More
Drafting a last will and testament is one of the most important things you can do in the probate process. Without one, Texas intestacy laws will govern the management and distribution of your estate. This could delay and reduce the inheritance your family receives once you have passed. It could also lead to in-fighting over your estate. These are just some of the reasons why you should take the time to write your will. However, if you do not take the time to ensure your will meets the requirements of Texas law, your family could still face many legal challenges. At Sheehan Law, PLLC, we have helped families across central Texas with their probate and estate planning needs. We understand what it takes to create a strong will that will hold up under the scrutiny of the law. Here are some of the Texas will requirements you will need to…Read More
Last month, we discussed the different ways Texas probates estates. We outlined the four methods our state uses to distribute assets to the beneficiaries of an estate. This month, we are examining the details of how to probate a will in Texas. There are 8 steps in the process of distributing estate assets to the beneficiaries of a will. Here is what you need to know about these steps. What Are The 8 Steps To Probating A Will In Texas? Filing the Will – Whether there is a will or not, you must file an application for probate. This application must be filed with the correct Texas probate court in the county where the decedent resided. Posting Notice – After filing for probate, a two-week waiting period will start. During this waiting period, the county clerk will post notice at the courthouse that a probate application was filed. This serves…Read More
There are many ways to distribute your assets after you pass. Some people use a trust, others use joint ownership or rely on direct payments from insurance or retirement policies. However, the most commonly used method of passing on property to beneficiaries is drafting a will. But before your beneficiaries can receive their inheritance, your will must first go through the probate process. But do you know what processes courts use to probate a will in Texas? At Sheehan Law, PLLC, we know what it takes to get your family through the probate process. We understand the many steps it takes and how difficult it can be. Going through probate after losing a loved one is very challenging. We want to help reduce this stress by keeping you informed. So, our Austin probate attorney has gathered information to help. What Are the Different Ways To Probate A Will In Texas?…Read More
While you are creating your estate plan, you might be wondering what will happen to your digital legacy once you pass away. Your digital legacy includes all information related to your online accounts, blogs, social networking identities and digital files that will still be left on the web once you pass away. Many of these accounts and information files cannot be left in your will, trust or other estate planning tools because you do not physically own them. The good news is that you can choose what you would like to have happen to them and leave important directions for your executor. What Is Included In My Digital Legacy? Social networks. A large part of your digital legacy will include any online social network accounts that you have, such as Facebook, Twitter, Instagram, LinkedIn or Pinterest. What you can and will do with each account will depend on the individual…Read More
Since coronavirus entered the U.S., our entire nation has been on lockdown. In this climate, the potential threats that COVID-19 poses have weighed on the minds of Americans. It has prompted many to think about mortality and what their families would do without them. This concern has led many to start preparing their estate. But do these individuals know what they need when it comes to estate planning? What pitfalls should they avoid during this process? Our Austin estate planning lawyer has some tips that could help guide you. And with our state eager to reopen schools and business, these tips could be critical to taking care of your family’s future. What Do I Need To Start A Solid Estate Plan? With schools across our state reopening, many fear for the health of children, school employees and teachers. Many school employees, bus drivers and teachers are older and potentially vulnerable…Read More
James Brown was the Godfather of Soul. He composed over 1,200 pieces of music, many of which have gone on to entertain the world. This allowed the star to amass a significant fortune, and he accounted for that wealth in a will drafted in 2000. However, his estate has been in legal limbo since his passing in 2006. Why is the James Brown estate still in court despite having a will drafted? Could recent court rulings end the legal battle? What can we learn from this star’s estate battle? Our Austin estate planning law firm takes a look at the issues and what we can learn from them. The Legal Battle For The James Brown Estate The conflict over the estate of James Brown actually began two years before the legendary singer passed away. In 2003, news outlets discovered that Brown’s wife Tommy Rae Hynie had a previous marriage. This…Read More
Making the decision to remove a family member from your will is tough. However, life is messy, and this sort of thing happens. If you feel the need to disinherit a family member, then the chances are that your reasons for doing so are warranted. However, making changes to an estate planning document, such as a will, should not occur without attorney supervision. Even the simplest of mistakes could render your revisions ineffectual. Below is an overview of how to remove a beneficiary from a will. Nevertheless, we encourage you to contact an Austin estate planning attorney for help with these matters. Beneficiary Designations And Disinheritances To totally disinherit a family member, a simple solution is to remove this person from your estate planning documents. For example, the majority of your assets will be transferred to your beneficiaries after you pass away. If your goal is to remove someone as…Read More
