Introduction: Should You Have a Texas Will? If you die without a will in Texas, your assets will go to your closest relatives according to state law. This may not be what you want. A will lets you decide who gets your assets when you die. A will is a legal document that says how…
TX-LW Blogs
Overcoming the IRS’s Constructive Dividends Argument
Those who own C corporations have to be careful about what amounts are paid out to or benefit the corporate shareholders. This is particularly true for closely held and family corporations. On audit, the IRS will often assert that these distributions are constructive dividends. This is usually a bad answer for taxpayers as it increases……
Is Your Texas Will Invalid?
When Is a Texas Last Will and Testament Invalid? After someone dies, their will is often one of the first things that needs to be dealt with. But what happens when a will is invalid? In Texas, there are a few different circumstances that can render a will null and void. Learn more about what…
What Is a Texas Small Estate Affidavit?
If you need to settle the estate of a loved one who passed away without a will in Texas, you’ll need to file a Texas small estate affidavit. This document essentially allows you to transfer the deceased person’s property to their heirs without going through probate. Keep reading to learn more about how to file…
Texas Probate When There is No Will
Probate Law without a Will The process for probating an estate when there is no will is similar to probating a will. There are several notable differences, including the heirship proceeding and the attorney ad litem. To start the probate court process, the applicant will file the following documents: Application to be appointed, Application for…
What Is a Texas Transfer on Death Deed?
A Texas Transfer on Death Deed is a way to transfer real property to someone else upon your death without going through probate. The deed must be properly signed and notarized, and it must be filed with the county clerk in the county where the property is located. What is a Texas Transfer on Death…
The Late S Corporation Election
The Subchapter S corporation remains a popular choice of entity for small and medium-sized businesses. This is true even after the TCJA of 2017 lowered the income tax rate for C corporations to 21 percent. Unlike many other changes made by the TCJA, the 21 percent flat corporate rate is permanent. It is not going……
Inherited Retirement Accounts: The Basics
If you’re like most people, you probably don’t think too much about what would happen to your retirement account if you died. But it’s actually a pretty important question, especially if you live in Texas. In Texas, inherited retirement accounts are subject to some pretty strict rules. For example, if you die before you’ve reached…
Personal Injury Claims Against a Probated Estate
Huitron v. Kaye, 2022 UT 36 (Utah 2022) The Utah Supreme Court reversed the lower court, which had denied the defendant’s motion for partial summary judgment. The Supreme Court ruled that since the plaintiff did not file his personal injury lawsuit in time, he was limited to pursuing what money was held by the estate.…