Introduction A living trust is a legal arrangement in which you, the grantor, transfer property to a trustee. The trustee then manages the property for the benefit of a named beneficiary or beneficiaries. Living trusts are created during the grantor’s lifetime and can be revocable or irrevocable. Texas has specific laws governing living trusts, so…
TX-LW Blogs
What Is a Special Needs Trust?
Introduction A special needs trust is a type of trust fund established to provide supplemental financial support for a disabled individual, without jeopardizing their eligibility for government benefits. If you’re the parent or guardian of a disabled individual in Texas, setting up a special needs trust may be something you’ve considered in order to provide…
Texas Taxes: Is an Owner Liable for Business Taxes?
When one thinks of Texas and taxes, the idea that Texas does not have an income tax may come to mind. This is true. Texas does not currently have an income tax. This does not mean that Texas does not collect taxes. Texas collects taxes–and a lot of taxes. This includes everything from property taxes……
How to File a Small Estate Affidavit in Texas
Introduction The process of probate can be a long and complicated one, especially if the estate in question is large. But what if the estate is small? In Texas, there is a process known as a small estate affidavit that can be used in these cases. In this blog post, we will walk you through…
Does Separate Property Acquired in One State Count as Community Property in Texas?
Introduction When it comes to probate, property division can be a complex and contentious issue. If you and your spouse own property in more than one state, the question of which state’s laws will govern the division of that property can become even more complicated. In this blog post, we will explore the concept of…
The IRS’s Ability to Collect Foreign Assets
Those who have unpaid taxes owed to the IRS may have assets located in foreign countries. If the IRS cannot collect from assets located in the United States, it may seek to collect from foreign assets. This is often a very difficult task. While the IRS has a number of tools to collect from foreign……
Can Making an “X” on a Signature Line Validate a Will?
Introduction: Legal requirements Can making an “X” on a signature line in a will validate the document? The simple answer is: maybe. In Texas, a will must be in writing and signed by the testator (the person making the will) in order to be valid. However, there is no specific requirement as to how the…
How Do You Prove the Adopted Status of a Family Member in Texas?
Introduction Proving the adopted status of a family member in Texas can be difficult if you don’t have the right documentation. Learn what you need to know in this blog post. The Importance of Proving Adopted Status When an individual in Texas wants to adopt a family member, they must first prove their status as…
Does a Constructive Trust Have to Be in Writing?
Introduction A constructive trust is an equitable remedy imposed by a court to prevent one party from unjustly enriching themselves at the expense of another. It can be used to rectify many different types of situations, such as when someone uses fraud or duress to obtain property. In Texas, a constructive trust does not have…