Unlike many states on the Pacific and Atlantic costs, Texas’ probate process is quicker and comparatively cost efficient. In fact, Texas offers a several abbreviated probate process (e.g. independent administration, muniment of title, small estate affidavits) that require only limited filings and usually a single brief hearing in order to transfer the property to the
Many clients ask, “How do I keep my house from going into probate when I die?” A Transfer on Death Deed (“TODD”) is one way to do this.
What is a TODD? In 2015, Texas enacted Chapter 114 of the Texas Estates Code, which created and authorized the TODD. Its main purpose is to allow
The upcoming election and concern regarding potential changes have people asking questions about what they can do in 2020 to blunt the impact of a future change in the tax law. One strategy for people with significant assets will be to give property away while the current tax laws are in place.
As many already
On April 27, 2020, Governor Abbott issued Executive Order GA-18, implementing Phase I to reopen Texas, beginning May 1, 2020. In addition to confirming that “essential services” shall continue to operate as they have, GA-18 provides guidance on services that may reopen as of 12:01 a.m. on Friday.
“Reopened services” include:
As the coronavirus continues to adversely impact so many, the court systems across the country are adapting in kind, with many of them suspending jury trials and moving to reduced-contact scenarios for other matters. Below is a digest of the most up-to-date information regarding courts in Texas as of the time of this posting. Please
In an attempt to mitigate risk, most commercial contracts contain a provision limiting monetary recovery. The most common provision is a waiver of consequential damages. Despite the parties’ best intentions, whether a category of damages are considered direct damages or consequential damages is often determined on a case-by-case basis. Texas courts have provided the following
Commercial contracts involve a certain amount of risk allocation between the parties. Indemnity provisions are among the most aggressive risk shifting provisions because they can require a party to assume liability for the mistakes of another. As a result, Texas courts require indemnity provisions to comply with the Fair Notice Doctrine in order to be
By Jessica C. Engler, CIPP/US [1]
In the wake of sweeping privacy law reforms both in and outside of the United States, Texas has become the latest state of many to makes changes to its existing data privacy laws. This summer, Texas Governor Greg Abbott signed into law HB 4390, christened the Texas Privacy
Many people complete their estate planning documents, place them in a safe/drawer, and never think about them again. It’s an understandable pattern, but estate planning requires maintenance just like your house, your car, and the rest of your valuable assets. So when should you review and update your will or trust?
In a perfect world,
Despite most people believing it’s important to have an estate plan, only about 40% of people actually get one.[1] There are a number of reasons that someone may not have gotten an estate plan but the idea that you do not need one because you do not have kids should not be one of