When we think about the assets in our estate, it’s natural to consider the more tangible and immediate items like real estate, bank accounts, and personal belongings. However, there are often overlooked assets that may have significant value and can easily become unclaimed property and create implications in the probate process. What Is Unclaimed Property? […]
Author: Philip Silberman
Prepayment of Residential Mortgage Loans in Texas
Most of the clients who come to our firm with concerns about their mortgage want to know what could happen to them if they are unable to make their payments, or how best to limit their financial exposure for payments they have already missed. Far fewer approach us with questions about what they should do […]
The Texas Recording Statute
Recording in General Some people mistakenly believe that merely having a signed deed is evidence of clear ownership of real property and all that is needed to enforce your claim. Although the process has evolved over time and may vary from state to state, the overwhelming majority of states, if not all of them, stress […]
Potential Issues When Adding Members to a Texas LLC
Texas limited liability companies (LLCs) have become a very popular structure for new businesses for many reasons. The owners of an LLC, called members, do not face personal liability for the debts of the LLC, including debts resulting from lawsuits against the LLC. The LLC requires an initial filing with the State of Texas, but […]
Understanding the Family Allowance in a Texas Probate Proceeding
Understanding the Family Allowance in a Texas Probate Proceeding Losing a loved one is an emotionally challenging time, and dealing with the practical aspects of estate administration can further compound the stress. In Texas, the Estates Code provides for various provisions to protect the rights and interests of surviving family members. One such provision is […]
Accessing a Safe Deposit Box After a Loved One Passes Away in Texas
Accessing a Safe Deposit Box When Someone Passes Away In Texas Many people have a safe deposit box to keep important valuables and documents secure. What happens if someone passes away unexpectedly, and their loved ones need to access the safe deposit box because they suspect the will is inside? There are processes in the […]
Understanding S.B. No. 147: Implications for Foreign Property Ownership in Texas
Recently, the Texas legislature considered some bills that, if eventually passed into law, would have major implications for both current and prospective property owners in Texas. One of those bills was considered in the 88th Texas legislative session—S.B. No. 147, a bill particularly concerning for foreign individuals and entities. While the 88th legislative session is […]
The Joint Will: An Unsuitable Estate Planning Tool in Texas
Understanding the complexities of estate planning can feel daunting, particularly when it involves loved ones. A joint will, a document often utilized by spouses to establish mutual asset distribution, might initially appear as an attractive solution. However, within the unique legal landscape of Texas, joint wills are generally discouraged. Understanding Joint Wills Joint wills allow […]
Texas Home Buying Basics: Earnest Money and the Termination Option
First-time home buyers in Texas may find themselves overwhelmed with unfamiliar terminology surrounding the purchase process. To protect their interests, such buyers should work to gain a basic understanding of the fundamentals of a home purchase before committing themselves to a contract. Two of the basic concepts of the typical home purchase with which every […]
The Statute of Repose and Construction Defects
What is the Statute of Repose? The term may lead one to think of the statute of limitations to bring certain actions under Texas law, and while it may operate in a similar fashion, there is one important caveat. A statute of limitation bars a cause of action following an injury or damages, or the […]