Estate planning is a gift to families and provides relief to the planner as well, who assumes that the estate’s assets will be distributed how and when the planner asks. Probate law is complex, however, and beneficiaries may be surprised when the distribution of assets does not go as expected. A common belief about bank […]
Author: Philip Silberman
Probating a Copy of a Will in Texas
There is a presumption under Texas law that if the decedent’s original will cannot be found or produced, the will is void or revoked. In other words, even if you have a copy of the will, the probate court will still treat it as if there was no will at all. There is now a […]
Indemnification in Contracts
Contracts, when well drafted, seek to provide for, and agree to the consequences of, any possibility that might occur during the life of the contract. One important area that is frequently covered under many contracts is that of indemnification – essentially meaning protection against liability. Indemnification Clauses Indemnity is defined as “[a] duty to make […]
Understanding Property Taxes in Texas
Texans are fortunate to be one of nine states not subject to a state income tax. Still, state and local governments need funding to function, and one type of ad valorem tax, the property tax, is a large source of that local funding. Ad valorem is a Latin phrase meaning, “according to value,” and Texas […]
Recent Changes to Property Taxes in Texas
Texas is one of nine states that does not require its citizens to pay a state income tax. That does not mean, however, that people live tax-free in Texas. Since state governments need funding in order to govern the state, Texas funds its needs through ad valorem taxes, which were first used in the United […]
Tangible vs Intangible Assets in Texas Estate Planning
Most people think of estate planning as writing a valid will, and that is one crucial aspect of planning. However, estate planning includes many other considerations, whether or not to create trusts or include digital executors, for example. Also critical in estate planning is the accurate valuation of an estate. Some assets are easier to […]
Recent Changes Regarding Wraparound Mortgages in Texas
While many choose a traditional mortgage when purchasing a home, other options are available in Texas to meet the varying needs of buyers. One option is a wraparound mortgage, which offers advantages for buyers and sellers, but which also has greater risks than traditional mortgage loans. To help decrease those risks, SB 43, effective since […]
Trademark and Service Mark Registration in Texas
A successful business often creates unique graphics, slogans, and logos to promote customer recognition of its products and/or services. The power of such branding is its ability to help customers link specific goods or services to a particular business. Therefore, protecting that exclusive image is of paramount importance to a business. Fortunately, Texas law details […]
The Importance of a Digital Executor in a Texas Will
Estate planning, usually includes writing a valid will, perhaps creating one or more trusts, and choosing an executor to administer the estate. Changes in probate laws, reflective of societal changes, may complicate that planning. One fairly recent change addresses the increasing importance of a client’s digital legacy. The role of executor is evolving to reflect […]
Wills and Trusts as Estate Planning Tools in Texas
Most people want to do all they can, not only during their lifetime but beyond, to help their loved ones. Estate planning provides peace of mind for that person and their family members by establishing who will manage the estate and how assets of the estate will be divided. Many equate estate planning with writing […]