There are four types of disclaimers. The first type is for when an individual who received a gift or bequest disclaims all rights to the gift, thereby giving up their interest in the property and allowing the property to pass as if he or she never received it. The second type is for when an…
TX-LW Blogs
IRA Excess Contribution Tax for Stock Sale
There are a lot of unanswered questions when it comes to the tax rules for IRAs and other qualified plans. IRAs and qualified plans can shelter a significant amount of income from tax. Defined benefit plans are an example. A business owner can contribute and shelter up to $245,000 in these plans in 2022. This……
What If I Don’t Believe That A Will Is Valid?
What If I Don’t Believe That A Will Is Valid?: How to Contest or Dispute a Will If you don’t believe that a will is valid, there are a few things you can do. You can file a petition with the court to have the will probated, or you can file an objection to the…
How Do You Probate a Lost Will?
You may be surprised to learn that if a will cannot be located, it may still be possible to probate the estate. To do so, you’ll need to follow the proper legal procedures and file the right paperwork with the court. This article will guide you through the process of probating a lost will. What…
Is Your Sister or Brother Taking Advantage of Mom’s Estate?
If a person becomes unable to take care of their financials, as the elderly population does, people may need to step in. That is where adult children come into play. An adult child may decide to help but abuse the disability. Don’t be afraid to call lawyers if you feel like your parent is being…
Is an Online Will Valid?
If you’re considering making an online will, you might be wondering if it’s actually legal. The short answer is yes, an online will is just as valid as a handwritten one – as long as it meets all the requirements of a regular will. Keep reading to learn more about what makes a will valid,…
Tax Implications of Being an Executor in Texas
When a person dies without having a will in place, the person who has been appointed executor is tasked with distributing all of the assets from the probate estate to those people and organizations named in the deceased’s will, or if there is no will, it falls on the executor to distribute everything at their…
The IRS “Effective Tax Administration” Settlement
Life has a way of getting in the way. Whether it is a health issue, a financial setback, or some other circumstance. The IRS often finds itself having to contend with these situations experienced by taxpayers. This often comes up when there are back taxes. Or when the life issue results in back taxes. Taxpayers……
Do Texas Courts Require an Attorney to Probate a Will?
When someone dies, their estate must go through the probate process. This is true whether or not the deceased had a will. Probate is the legal process of settling an estate, and it can be complicated. In Texas, the court may require that an attorney handle the probate process, depending on the size and complexity…