Has Your Mother or Father Passed On Without a Will in Place?

June 11, 2018 3:43 PM Tyler Edmondson

Has Your Mother or Father Passed On Without a Will in Place?

Has your mother and father died without leaving the final Will and Testament? If they have, it is a very common problem. The issue is that this could potentially be a very big headache for you. A final Will and Testament clearly define who the heirs are, and who is entitled to what. But if there is no final Will and Testament then it will be left up to the state to determine who the heirs are. Any time the state gets involved, it’s going to be very complicated. First off, the state does not know the family history; the state also doesn’t understand the family dynamics of your individual situation nor do they care. To make sure that your interests are protected you’re going to have to go through a special set of proceedings.

The Heirship Proceeding

The special proceedings you’re going to have to go through are called the heirship proceedings. Essentially the heirship proceedings are court proceedings that are utilized to determine who the proper heir to an estate is. These proceedings are conducted whenever the owner of an estate has died and has not left a Will to declare who the heir is. So let’s say you have spent the last several years taking care of your parents. Now that your parents have passed, your siblings, who have been absent, have now appeared and are wanting an unfair portion of the estate. This is very unfair to you. But the problem is that the court has no idea. You’ll have to present a legal argument that will compel the court to see the truth. This is a complicated and intimidating endeavor.

Estate Planning Attorney in Wylie, Texas

If you have found yourself in this type of situation, then you can’t settle on any law firm. You need to team up with the law firm that specializes in Estate Planning and understands Texas state law as far as estate distribution is concerned. That is why Edmondson Law, PLLC should be your first choice. Edmonson has years of experience in Texas Estate Law and will be able to help you to build a compelling case and ensure that you are not cheated out of what is rightfully yours. So if you’re facing an heirship proceeding then don’t delay and give Edmonson Law a call today.

Information, Not Legal Advice. We provide the information on this website as a public service. The legal landscape is constantly changing and being modified by state law and case law. As a result, we cannot promise that this information is always up-to-date and reflective of the most current jurisprudence.

We do not intend this information to be legal advice. By providing this information, we are not acting as your lawyer. If you need legal advice, you should contact a lawyer through our number (972) 442-8326 or contact another attorney of your choosing.

What Is a Trust?

June 4, 2018 2:26 PM Tyler Edmondson

What Is a Trust?

A Trust is something that many people have heard of before but perhaps don’t really know or understand what it is. The first thing to realize about a Trust is that it is a legal agreement between three different parties. The first is the Trust maker, which is the individual who creates the Trust agreement. The second is the trustee, which is the person who is responsible for managing the property or the funds. The third is the beneficiary or beneficiaries, who are the people that receive the benefits of the property or assets of the Trust. So, in short, you have the Trust maker who transfers ownership of assets to the Trust and the trustee. The trustee then manages these assets for the benefit of the beneficiaries in the Trust.

Types of Trust

No matter what type of Trust it is, they are all either revocable or irrevocable trust. This means that the beneficiary of the Trust can have their privileges revoked if it’s a Revocable Trust or they cannot be revoked if it’s in your Revocable Trust. But no matter what type of Trust, whether revocable in your revocable, there are several Trusts that can be tailored for a specific purpose. For example, the Special Needs Trust is set up to provide for a disabled or handicapped beneficiary that won’t compromise his or her entitlement to supplemental security income or government benefits. The Spendthrift Trust actually gives the trustee the power to determine how and when distributions can be made to the beneficiaries in a Trust; this is really a good Trust for those who are not financially responsible. These are just a couple; there are several other Trusts as well.

Estate Planning Attorney in Wylie, Texas

A Trust is a precious asset when planning your estate. A Trust is a tool that should be utilized and not disregarded. Unfortunately, many people do not take advantage of the trust because they see the whole process as being too overwhelming. It’s for that reason that we advise you speak with an attorney that specializes in Estate Planning and can make the entire process of establishing a Trust relatively painless and easy. So, if you are ready to set up a Trust, then please don’t delay and give our offices a call today.

How Is Your Will Looking?

May 29, 2018 12:04 PM Tyler Edmondson

How Is Your Will Looking?

So how is your Will looking? Do you even have a Will? When was the last time you looked at your Will? Or updated your Will for that matter? All of these are fundamental questions that you have to ask yourself. You might think that you’re pretty young. You’re in your early 40’s and putting a Will together is the last thing you think about. Keep a few things in mind here; you have a considerable estate. You’ve spent the majority of your adult life working hard to build a comfortable life. Also, bear in mind, you could die in an auto accident, from a random illness, or some other unforeseen event. At which point if you do not have a Will and you have no say or control as to what’s going to become of your estate.

The Importance of Having and Updating Your Will

Hopefully, it’s clear, the importance of having a Will even in your younger years. You have no idea what the future holds. At the same time, you don’t want your estate to go into disarray. You want to make sure that your final wishes are seen through. So, don’t look at this as you have plenty of time left, look at it as being part of building your estate which you’ve done for the past 20 years. Another important aspect is to make sure your Will is updated. Say you created a will 10, 15, or 20 years ago. Have you updated it since then? Shirley your estate has expanded during this period. If you have not updated your Will, then the additions to your estate are not going to be covered in your Will. This is problematic.

Estate Planning Attorney in Wylie, Texas

Hopefully, this article has made it clear how important it is to create a Will, no matter your age, and to update the Will. Of course, creating a Will can be a complicated process. You have to make sure that it is legally binding for one, and that all bases are truly covered. In order to ensure that you have an excellent legal binding Will that will see that your estate is divided as you see fit, you should have a law team working with you this specializes in Estate Planning. Edmondson Law located in Wylie, Texas has an expert team of attorneys that specialize in Estate Planning and will be able to help you create a thorough Will.

An Executor and the Power Of Attorney

May 21, 2018 3:19 PM Tyler Edmondson

An Executor and the Power Of Attorney

Estate planning is complicated. There are all sorts of terms and procedures that must be known and followed in order to ensure a legally binding document that will ensure that your estate is taken care of as you see fit. One question that comes up often is, “Do I need both a power of attorney and executor?” The answer is, yes you do. The reason for this is because the executor and a power of attorney can be two different people. Someday you will be able to attend to your own personal and financial affairs as you age. It’s at this point that you will need to name someone to be your power of attorney. This person should be somebody you can trust with your day-to-day finances and your daily medical issues. And this person may be someone entirely different than the executor.

The Executor

The executor is the person that you choose to take care of your affairs after you have died. So, essentially the executor is the person that is going to be the one to liquidate your estate. The executor deals with your affairs after you have left this world, while a power of attorney deals with your affairs why you’re still alive. So, because these two people have two completely different roles, it’s clear to see why you would need both. It is possible that you can have the same person as your executor and power of attorney. But, you must have it lined out legally that that person is going to handle both roles.

Estate Planning Attorney in Sachse, Texas

We understand that all this may seem complicated, and to be honest, in order to ensure a smooth transaction and liquidation of your estate you must make sure that you have the proper documents in line. Because of this, we suggest that you team up with the skilled law team that specializes in Estate Planning. Edmondson Law, PLLC is a law firm located conveniently in the Wylie, Sachse, and Murphy area. If you want to plan ahead to ensure that everything is in order as you age, then please don’t delay and give our offices a call.

Having That Difficult Conversation

May 15, 2018 2:41 PM Tyler Edmondson

Having That Difficult Conversation

No one wants to have that hard conversation. You know the one I’m talking about, the one you have with your spouse, children, your brothers or sisters, or your close friends. Death is a scary thing that no one wants to think about. We as a society like to live in the moment and don’t want to think of the future and the great unknown. This is problematic, however, as people don’t want to have this uncomfortable conversation so when they do pass they are not prepared. This can be a sad situation for your family members to go through and you know that’s not what you want for your family.

The Importance of the Will

A final Will and Testament is one of the most important documents you need to have lined out as quickly as possible. A final Will and Testament outlines how you want your estate handled after you do indeed pass. The thing about the Will and Testament is that it’s something that should be worked out with your family, that way there are no unexpected surprises. But as I have mentioned, it’s tough to have that conversation because people don’t want to think about it. And whenever you try to talk to family members about this, it’s possible they will try to avoid the conversation. Your relatives will say things like “well don’t worry about it, you do not have to worry about this for years.” But don’t let this dissuade you. Stand firm and have the conversation. Don’t wait until it’s too late.

Estate Planning Attorney

There is another individual that you need to be having this conversation with. Speaking with a knowledgeable attorney that specializes in Estate Planning is the first person you should do. While it’s important to talk to your family members, you must remember they don’t understand the technicalities of Estate Planning Law in Texas. So to have that hard conversation, the first step revolves around you contacting an Estate Planning attorney. If you are ready to take that first step, then please contact our offices at Edmondson Law, PLLC. Our staff will help you make the first step of this challenging conversation.

Estate Planning Mistakes

May 7, 2018 5:33 PM Tyler Edmondson

Estate Planning Mistakes

There are a countless number of legal strategies you might want to consider when putting together an estate plan. And there are a few “must have” estate planning documents you should create such as a will, a health care directive, financial and health care powers of attorney, and a trust. But there are many who still make frequent mistakes which can prevent a smooth arrangement when dealing with estate planning. Here are a few common mistake people make.

Not Seeking Professional Advice

Some people try to “DIY” estate planning and important documents by using self-help websites. Even though you’ve done extensive research, mind you there is nothing wrong with doing research, but you need to realize you can’t do it all yourself. A professional estate planner can help you chose what is best for you in your situation. There is no substitute for hiring a qualified attorney to ensure your documents are adequately drafted and accomplished to your specifications and needs.

Not Re-Examining or Updating an Estate Plan

It is not in your best interest to create an estate plan and forget about it or update it. There could be changes in the law or family structure. A divorce, death, adoption or even moving to a new state, where the laws affecting beneficiaries may not be the same as the state you moved from and can change the emphasis of a plan. Re-exam your estate with a professional every few years or when there is a significant change in your life.

Keeping Secrets from Your Estate Planner

We understand that clients like their privacy in regards to finances and family and we respect that. But providing incomplete or vague details can keep your planner from producing an accurate estate plan. It is also a good idea to communicate with your family to avoid conflict and hurt feelings and to family members from being blindsided. Talking about your decisions will provide everyone with an opportunity to understand and respect your decisions. Communication can allow hurt feelings to heal and jealousy to subside and can help prevent alienation and court battles among your heirs.

Professional Estate Planning

These mistakes are just a few that most people make. Edmondson Law, PLLC is here to help you represent your best interests. Call Edmondson Law Firm for professional help to get you on track and put your mind at ease.

Do You Really Need a Will?

April 24, 2018 9:10 AM Tyler Edmondson

Do You Really Need a Will?

So, most of you reading this are probably in your forties and fifties and have the rest of your life in front of you. Still being so young you are probably thinking, “Do I need a will?” You may feel that you still have several years of life and are in good health, so why should you think about the end when you are in the middle of your life? That is because it is never to early to plan for your future. You have planned for the future your whole life. You chose what you wanted to do as a career. You invested in your future in order to have a comfortable life. Now that you have a comfortable life you need to plan accordingly so that you know your estate will be looked after as you see fit.

Have Your Wishes Known

You have spent your whole life building up your estate. Do you really want your estate to go into disarray when you do pass on? Of course not. At the same time, you need to make sure that your estate matters are all squared away, hopefully not when you are older or sick, but while you are young and thinking clearly. You will be able to plan out a more precise Will that can have everything that is important to you written down and met. Also, if you establish your Will in advance, you will be able to make changes as you see fit. By having a Will in place, you will not have to worry about your relatives feuding over the estate because your wishes will be there in black and white with no room for debate.

Estate Planning Attorney in Wylie, Texas

Hopefully, it is clear that it is really never too early to plan ahead and have a Will drawn up. In order for a Will to be legitimate and a legal binding document, you must have a professional law team work with you in drawing up the document. You do not want to rely on a generic legal website to draw it up plus; it is possible the legitimacy of the document may come into question. If you need a Will or any legal document drawn up, do not delay and contact Edmondson Law, PLLC today.

Muniment of Title

April 17, 2018 9:56 AM Tyler Edmondson

Muniment of Title

A Muniment of Title is primarily a legal document that shows the ownership of an asset. This word derived from the Latin phrase munimentum which means: written evidence of title to property. This would include titles, deeds, Wills, and even court judgments. So, essentially what this means is that an heir to an estate may file this type of action for probate of the Will by a Muniment of Title. This is mainly the petitioner asking the court to recognize them as a beneficiary of the properties in the estate and requesting that the property titles be transferred to them. You may wonder what the benefit to this is over a standard Will as it bypasses the administration of the Will. This means that the muniment route can be a more natural and less expensive way of settling the descendant’s estate.

Why Do You Need a Muniment of Title?

Let’s say a person has died leaving property behind in Texas and it is in that person’s name. At this point, the property cannot be sold or leased without the person’s signature on the documents. Because of this, the name of the descendant must, therefore, be removed from the title in order to allow his heirs to sell or transfer the property. A Muniment of Title makes it possible for the heirs of the property to do that. To establish a Muniment of Title, there are a few requirements. One is that the descendant must have died leaving a Will and real properties in Texas. The second is that the probate court must have jurisdiction over the estate of the descendant, and also that a citation has been served in return. Three, the estate cannot have any outstanding debts, except obligations that are secured by liens on the estate. And finally, there’s no need for administration of the estate.

Wylie Estate Planning Attorney

A Muniment of Title can make the whole process simpler when the descendant of an estate has passed. There are some requirements as was mentioned above. If your estate meets these requirements and you are looking at the future for your heirs, then perhaps you should consider a Muniment of Title. Regardless, if you go with a Muniment of Title or anything else you should weigh your options with an attorney that specializes in Estate Planning. Edmondson Law, PLLC specializes in estate planning and is here to help you weigh your options and make an educated decision on the future of your estate.

Letter of Testamentary

April 16, 2018 4:43 PM Tyler Edmondson

Letter of Testamentary

A Letter of Testamentary is essentially a document that is issued by the court or public official authorizing the executor of the will to obtain control of the deceased’s estate. So, what is this mean exactly? It means that it’s legal proof that the person who is going to be the executor has control of the estate. The executor is responsible for a variety of things. For example, it can be the executor’s job to inventory the estate, pay off outstanding debts, and distribute the estate accordingly to the will. When dealing with banks or other financial institutions, estranged family members, or anyone else, this letter is the proof that you will need to get business done accordingly. By having a letter of testamentary the whole process of dealing with an estate after a loved one has passed can be much simpler.

Have a Letter Drawn Up Before It’s Too Late

A Letter of Testamentary is as important as a will itself. The problem, however, is that many people procrastinate on getting these documents drawn up and that can be very problematic. If your loved one never gets a Will or Letter of Testamentary drawn up, you could have a much tougher time trying to handle the affairs of the estate. It is for this reason that you need to have all of the important estate documents completed as soon as possible. This can include a will, Letter of Testamentary, muniment of title, or anything else. We understand it’s something that you don’t want to think about because it means the inevitable passing of your loved one. But you will want to make things easy for your loved ones and have these documents drawn up before it’s too late.

Estate Planning Attorney

To get these documents drawn up, you need a competent law team that knows the ins and outs of Estate Planning in Texas. This way you know that the documents you have drawn up will be right and true and legally binding. So, if you feel it is time to having documents drawn up for Estate Planning then contact Edmondson Law, PLLC today. Our expert team of lawyers will help you through this difficult and complicated process.

So What Is a Probate of the Estate?

April 11, 2018 3:57 PM Tyler Edmondson

So What Is a Probate of the Estate?

What is a probate estate all about? Essentially a probate estate is all of the assets that a person owns at the time of his or her death are subject to probate administration. Probate administration is essentially the process of proving to the court that a final Will and Testament is actually legitimate or genuine. And as such, there are several types of assets that comprise a probate estate. A few examples are all assets held in the deceased name, assets the deceased owned as a tenant in common with other persons. This can include any assets payable to the estate because the estate is the designated beneficiary or the asset has no designated beneficiary, amounts owed to the descendent before the death but was paid in full after death, and household items such as jewelry or other precious items.

A Very Complicated Process

All of this may seem very complicated. The reality is that it is complicated. If you have been chosen to be the executor of an estate, then you have to go through the legal process of making sure that the estate is handled in the manner that the deceased wanted. So by having probate of the estate you are proving that the person’s final wishes are truly their final wishes. Then you can go about dissolving the estate accordingly. This is definitely a task that is complicated and perhaps not best tackle alone. This is especially true if you have no legal background. In order to make this as painless as possible, you should really seek legal assistance. By having a competent team of lawyers helps you with the probate process you will have a much easier time probating the estate.

Estate Planning Attorney in the Murphy, Texas Area

If you have recently been named the executor of an estate and need to go through a probate process, then you really shouldn’t take it on alone. You need to team up with a set of lawyers that know the Texas estate law in and out. Edmondson Law, PLLC specializes in estate planning and will be able to help you probate the estate efficiently and in a timely manner so that you can continue with your life. So if you are faced with probating an estate then don’t delay and give Edmonson Law a call today.