Once the executor or administrator in a probate case is appointed, he must file an inventory of all of the property belonging to the estate. TPC 250. The inventory has to be filed within 90 days of his appointment. Once filed, the judge will review the inventory and, if everything seems to be complete, enter [...]
Archive of posts filed under the Property category.
Can you disclaim an inheritance if you don’t want it?
Texas allows a beneficiary to disclaim all or part of an inheritance. Why would a person want to disclaim an inheritance? Well, there are a number of reasons. There may be some beneficiaries who are in poor financial shape and the other beneficiaries don’t need the property and have a desire to help out the [...]
A gift deed has to be delivered to be valid.
To be effective, a deed has to be delivered. Just as the deed must be signed to be effective, it must also be delivered. This is true whether the deed is one of purchase or of gift. The essential elements of delivery are: 1. The grantors relinquishment of control over the deed to the grantee [...]
Can there be a parol (oral) gift of real estate?
Normally, a conveyance of real property has to be in writing. However, a gift of realty can be made in two ways: either by deed or by parol (oral) gift. To relieve a parol gift of real estate from the requirement of a writing, one must show three elements: (1) a gift in praesenti, that [...]
How do you make a gift of CD’s?
In a contested probate case, the mother bought several CD’s. She had the bank list them under her name and her son’s name: “Mother or Son.” There was no question that all of the money in the CD’s came from mother. Eight days before mother died, son cashed out the CD’s. When they were not [...]
When is a gift not a gift?
In a recent case, the second paragraph of a will gave a piece of land to the testator‘s wife “to be hers absolutely forever.” The third paragraph of the will gave the land to the testator‘s sons in the event of the simultaneous death of the testator and his wife or “upon the death of [...]
Joint accounts with right of survivorship
Joint accounts are accounts, usually with a financial institution, where more than one person has rights to the account. Deciding what those rights are is a problem often faced in contested probate cases. The courts look at the documents creating the account and the words used to determine the type of account involved. Often, the [...]
What is the difference between community and separate property?
Texas is a community property state. The word community in community property refers to the marital community; the marriage between you and your spouse. If you are not married, you do not have any community property. You only have separate property. Community property is all property acquired during the marriage except property acquired by inheritance [...]
What if there are not enough assets in the estate to pay all of the expenses?
Today’s word is abatement. Estate property is liable for debts and expenses of administration. How are these paid? Do all of the beneficiaries share this burden equally? Texas, like most states, specifies a way that the property abates. The Executor or Administrator is to follow these guidelines: If the testator has specified a particular way [...]
What happens if you get divorced after making your will?
Texas law provides that all provisions in a will in favor of a former spouse “must be read as if the former spouse failed to survive the testator” and are null and void. Therefore, if you get divorced and don’t change your will, you ex-wife will not inherit under your will even if you want [...]
