How to avoid probate

A power of attorney is a contract that authorizes someone to make decisions or take actions on someone else’s behalf, giving the authority to a third party to do things on behalf of someone else who cannot so it for themselves. There are different types of power of attorney that cover different things that the person can do. For instance, a general power of attorney is considered to be the broadest authority to give another person for yourself, with a general power of attorney you can act on a number of matters including business transactions, selling property, spending money. Many times, this helps people with large businesses designate a decision maker, or sign documents on behalf of them. In Real Estate, this lets people sign for property transactions, sell & divide property, & contact creditors & other parties. A general power of attorney is not used for end of life planning because there is a contingency where if the person is incapacitated the power of attorney is no longer valid. That is where a medical power of attorney & durable power of attorney are used.

An affidavit of heirship can be used when someone dies without a will, & the estate consists mostly of real property titled in the deceased’s name. The affidavit is filed (“recorded”) with deed records in the county where the decedent’s real property is located. It does not transfer title to real property.
It is required to know all information, dates of birth, dates of marriages, divorces, all children, names & birthdays, & have two living witnesses, that will not benefit financially from the estate to confirm the truth of the documents.

Estate planning can be important especially in a Community property state like Texas. It can get complicated to divide assets, when a person is married & has children, & they also have other children that are not children of the surviving spouse. The legal fees & inconvenience to divide a property between five children & a spouse can be tedious. At that point a lot of people waive their rights to receiving any proceeds from an estate, just because it is not worth it.
A simple estate plan can help you avoid these types of situations & make it easier for the people you care about after you pass. Naming beneficiaries for your IRA, & also planning how to plan for gift taxes & other estate taxes are important.

If you die without a will, you will not be able to choose who inherits your money, real estate property, belongings, insurance, retirement benefits, or any of the other assets like jewelry & furniture that you have. Without a will, it is likely that your estate gets tide up in a lengthy court process that becomes incomplete like many other estates, where people die without a will. With a will, you can decide & determine what happens to your property & choose who executes your plan, to make sure it is distributed the way you intended.
A h&written will can be costly to uphold for your family. There are many loopholes which can invalidate this type of will. If you are planning your estate for your family, you should think of the tens, of thousands of dollars it can cost to determine your beneficiaries with only a h&written will, vs. making a clear plan for your estate & knowing the costs ahead of time. We can help you with that, & help you determine the best option for your family.

A Land Trust is used to name one trustee for property to designate & control the income, to direct that income to beneficiaries. This trustee has no other function other than to do as the trust deed instructs.