After a death occurs, the will must be probated. This means that the executor of the estate must go to court, and the will must be validated. The estate must be valued, creditors paid off and taxes paid. The remaining value of the estate must be distributed according to the terms of the will. The process of probate should be relatively simple, but unfortunately things can quickly become complicated. A probate attorney knows that probate...
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Many people consider creating a trust to avoid probate and to reduce the potential that their estate will be subject to taxes after death. Recently, Forbes looked at the question of whether it actually makes sense for many individuals and families to have a trust. The answer to whether you should create a trust or not is going to be specific to your situation, but you need to make the decision to create a trust...
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Because Texas is a community property state, debt acquired during marriage is generally considered to belong equally to both spouses. This is true no matter who acquires the debt. Unfortunately, the outcome is that you could become responsible for your ex-husband or ex-wife's debts. A divorce settlement does not necessarily protect you from being forced to pay the bills as a recent CNN article pointed out. You need to understand the rules for shared responsibility...
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The children of Martin Luther King Jr. have been engaged in high-profile estate litigation since 2006, when their mother passed away. The latest dispute centers around whether to sell their father's personal traveling Bible and Nobel Peace prize. Several of the children have asked a court to order their sister to turn over both items, which she currently has in her possession and which she does not want sold. This dispute over these valuable assets is...
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This November, a car carrying seven people hit a curb and rolled into a field in Texas. Two 17-year-olds in the vehicle died in the wreck and the five other young passengers were taken to the hospital. My Fox Austin reports that there are only five restraints in the vehicle, and that the passengers taken for medical help suffered injuries ranging from minor to critical. Any car accident lawyer in Austin knows that this tragic accident...
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