WHAT IF…most of us have thought about a lot of “what ifs” lately. Some of us have been put in situations that we never thought we would be in until the events of 2020. Indeed, many “what ifs” became reality during the COVID crisis. Some of...
At Crain & Wooley, we instruct our clients to dust off their estate plan and review it once a year to make sure it correctly reflects their wishes. There are many life changes and scenarios where you will need to revoke your will and get...
In Texas, a will written ENTIRELY in your own handwriting is called a holographic will. It is essential to understand that every single word of this type of Will must be written only in your handwriting. Texas courts have taken an approach that directs that...
Spouses who are U.S. citizens can generally give property to each other during life and during death without having to pay any estate tax or gift tax. But what if one spouse is a U.S. citizen and the other spouse is not? When only one spouse...
With our world becoming more globally connected, it is very possible that you own assets inside and outside of the United States. Some countries may recognize your U.S. Will. This may occur if the rules in your state meet all of the same minimum requirements...
In 2015, the Texas Legislature passed a law adopting the Transfer on Death Deed (“TODD”). The TODD was adopted, presumably, as an alternative to probating an estate simply for the purpose of clearing title to real estate. More plainly, if you only own a home,...
As an Estate Planning Attorney, I often get mistaken for other types of professionals. A potential client may quiz me about how they should handle their investments in volatile markets, or they may have questions regarding the best approach to filing their income taxes. While...
No two Estate Plans are the same. Each person has unique needs that must be met to form a complete plan. This is especially true for single parents. Raising a child is a tremendous responsibility. Raising a child alone is an even greater challenge. When...
Millions of homeowners across the country are refinancing to take advantage of the lowest mortgage interest rates in recent history. If you have a Revocable Living Trust, most likely your home is titled (or at least it should be titled) in the name of your...
Since 1971, August 26th is recognized as Women’s Equality Day in the United States in commemoration of the certification of the Nineteenth Amendment. The 1970s saw a cavalcade of landmark women’s rights cases decided in the Supreme Court. One of those cases, Reed v. Reed,...