Ten Reasons to Reconsider the Transfer on Death Deed
A new Texas state law allows real property owners to record a “Transfer on Death Deed” which names a beneficiary to own that real property after the owner dies. Tex. Est. Code Chap. 114. New Mexico has allowed transfer on death deeds since 2013. NM Stat. 45-6-405. With a properly recorded Transfer on Death Deed, […]
Do You Want Laughing Heirs?
The States of Texas or New Mexico have written a last will and testament for you (depending on where you live). It isn’t called a last will and testament. Instead, it is called “intestacy.” Those who inherit by intestacy are essentially “laughing heirs.” Click here to check out our short video to learn what a laughing […]
10 Fun Facts about Giving Away Property to Qualify for Medicaid
Spouses and caregivers call us frequently to ask about giving away assets to qualify for New Mexico or Texas Medicaid. This article will inform you about how a gift is defined, what a “look-back” is, and what the penalty is for making a gift in order to qualify for Medicaid. The following 10 Fun Facts […]
Coming Home for the Holidays Might Help Prevent a Will Contaminated by Undue Influence
If you are visiting older parents, grandparents, aunts, uncles, siblings, or godparents for Thanksgiving, keep an eye out for slipping capacity. Don’t dismiss the odd, weird, or nonsensical comments or questions you hear from your loved ones who happen to be older. Visiting your loved ones for the holidays is an opportunity for you to […]
My Executor will run the Business Just Like I would: Not!
If you don’t have a specific provision in your will or trust that specifically gives your business to your beneficiary following your death, your executor, personal representative, or administrator may end up running your business. Texas Estates Code Section 351.201 et seq gives the probate court or a court sitting in matters probate authority to […]
Will New Mexico Expand Medicaid?
With the Supreme Court’s recent decision in National Federation of Independent Business et al. v. Sebelius, the House of Representatives once again holding a vote for the repeal of the Affordable Care Act, and state governments taking firm positions regarding compliance with the Medicaid expansion, there is a great deal of uncertainty regarding the future […]
How did my partner’s ex-wife become my partner? How did my partner’s grandchildren become my partners?
Texas law says that an association of two or more persons to carry on a business for profit as owners creates a partnership, regardless of whether the persons intend to create a partnership. Sure, it is easy to create a partnership, but how will you know what the terms of the agreement are? One of […]
What is a conservator (or guardian) anyway?
You may have heard that Zsa Zsa Gabor’s daughter is asking a California court to be appointed “Conservator” over her mother’s affairs. New Mexico uses the term conservator while Texas uses the term “Guardianship of the Estate” to mean that a court is appointing someone to manage another person’s finances. Conservatorship/Guardianship isn’t just for millionaires. […]