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4 Essential Estate Planning Documents for Texas Residents
Estate plans should contain multiple different documents. You need more than just a will, or just a trust to create a strong estate plan. Most people will need at least four or five different types of documents before they can consider their estate plans complete. Your estate plan can do much more than determine who keeps what piece of your property when you are no longer here to enjoy it. You can also help protect your assets for yourself later in life should you become incapacitated in your old age and make certain medical decisions for yourself in advance. A Cleburne, TX estate planning lawyer can help you determine which particular documents you need in your estate plan.
Important Documents Every Estate Plan Should Include
A few of the most essential estate planning documents you need include:
Normal vs. Unreasonable Buyer Demands in Tarrant County Real Estate
Reaching a deal in real estate negotiations can be a process. There is often a lot of back-and-forth communication between the buyer, the seller, and their respective real estate agents and attorneys. The process should not be rushed, even if you need to move quickly and would like to sell your house as soon as possible. A normal, if sometimes annoying, part of the process involves responding to the buyer’s requests for repairs before they will close. Often, these requests are reasonable or even necessary to bring the property up to code before the municipality will allow the sale to go through. Other times, buyers can become excessively demanding. If you are not sure whether what your buyer is asking is reasonable, your Cleburne, TX, real estate attorney can help you determine whether complying with the request makes sense for you.
Common and Normal Repair Requests Before Closing
Some of the more common requests buyers make before they will agree to a home purchase that is usually reasonable include:
Avoiding Estate Litigation in Texas
When you take the time to create an estate plan, you should have peace of mind knowing that your estate will be settled the way you want it to. However, a misstep during the estate planning process can leave your estate vulnerable to litigation during the administration phase. Experienced Tarrant County, TX, estate planning attorneys recommend taking certain steps to head off the possibility of litigation. Most will contests can be prevented by using a trust to dispose of most or all estate property. When a will is used, further steps can be taken to dispel accusations of fraud or to discourage disgruntled family members from challenging the will. If you are beginning the estate planning process or planning to update your estate plans, it is important to work with a well-qualified lawyer.
Do Mineral Rights Come With Land I Buy?
If you are buying land in Texas, finding oil on the property can seem like a dream come true. Striking oil on land you own may feel like winning the lottery. Oil can be very valuable. Traditionally, when you buy a piece of land, you own that land all the way down to the core of the earth. However, there are legal ways that a seller of land can sever mineral rights from the right to occupy, use, and build on or near the surface of the land. If you are trying to buy land in Texas that you suspect may have an oil or other valuable mineral deposit, working with an experienced and knowledgeable Hood County, TX, natural resources and real estate attorney is essential. An attorney can ensure that the mineral rights will transfer with the property or protect you from buying a property you will not have the right to harvest natural resources from.
What if You Find Out a Seller Lied in the Disclosure?
Buying a home is often the biggest purchase you will ever make. Before signing the contract, make sure to carefully review the seller’s disclosure notice. This legally binding form requires sellers to reveal defects or facts that could influence the value. But what happens if you later discover the seller lied on this important document? If this happens to you, a Texas real estate lawyer might help.
Seeking Legal Help
If a seller intentionally hides or misrepresents known defects, they are violating Texas law. This is considered fraud and can invalidate the purchase contract. As the buyer, you have legal rights to seek financial compensation or end the sale altogether. An attorney can review your case details and disclosure paperwork to build the strongest legal argument.
You may be able to successfully sue dishonest sellers in civil court. The judge could award monetary damages to cover repairs, value loss, legal fees, temporary housing, and other costs directly related to the seller’s deception. In especially egregious cases, you may even be granted a full purchase price refund or ownership rights to the defective property while the seller takes back the home.
What to Do About a Business Breach of Contract
Securing signed agreements with vendors, partners, or customers seems like relationship start assurances. When one party fails to meet contract obligations, bewilderment, and financial loss often follow unless recourse actions commence using wise legal strategies. You should know that there are practical guidance options for responding to broken Texas business contracts. A Texas business lawyer can help figure out what damages you may claim.
Assess Actual Contract Language
Before claiming breach, thoroughly review all original document terms to confirm definitive noncompliance. Identify specifically what duties outlined in writing have not been performed. Try and get records of chronological exchanges to prove the pledges and responsibilities. Vague assumed verbal discussions rarely substitute for professional contracts and documents detailing measurable requirements, timelines, and consideration exchanges binding partners legally after signatures.
Common Real Estate Title Problems
When buying or selling property in Texas, title issues can complicate closing. These commonly stem from unclear ownership interests, liens, and other issues impacting deed rights. If title defects occur, real estate transactions can be delayed for legal corrections that ultimately fall upon buyers and sellers to resolve. A Texas real estate attorney can help you with real estate issues, like title conflicts.
Liens
Various loans and debts tied to the property can cause problematic liens on the title. Most commonly:
Mortgage Liens
If the seller has not paid off mortgages as expected or if undisclosed loans emerge, buyers do not receive full ownership rights. This requires further negotiating to determine who is responsible for resolving outstanding debts attached to the deed. Buyers may need to take over payments, or the title company may need to pay off the loans using sale proceeds before transferring deed rights.
How to Handle Someone Contesting My Parent’s Will in Texas
Having a will contested can derail the probate process and create bitter family conflicts. If someone is challenging your deceased parent’s will, try to stay calm and take proactive steps to resolve the dispute strategically. A Texas attorney can help you figure out a plan.
Understand the Grounds for Contesting the Will
Do not ignore a will contest notice. Find out who exactly is contesting the will and what their specific grounds are alleging. Common reasons for challenging a will’s validity in Texas include:
- Lack of testamentary capacity - Claiming the testator lacked a sound mind and ability to make decisions when the will was signed due to dementia, Alzheimer’s disease, or other mental incapacity.
Maximize Your Inheritance with Texas Trusts and Estate Planning
Texas has unique laws regarding trusts and estates that allow residents to maximize inheritances for their families. Proper estate planning is essential to take advantage of these laws and avoid unnecessary taxes or legal disputes. A Texas lawyer can help you with key strategies you can use to preserve more assets for your loved ones.
Use Trusts to Avoid Probate
Texas allows the use of revocable living trusts to avoid the probate process on assets placed in the trust. Upon death, assets in a revocable living trust can be distributed immediately to beneficiaries without court intervention. This saves time, legal fees, and the potential for legal challenges. You should consider creating revocable living trusts and re-titling assets, including real estate, bank accounts, and investments into the trust. This ensures a smooth transition of assets upon death.
What Tenants Should Know When Breaking a Lease in Texas
Sometimes situations happen and you need to somehow get out of a lease. Whether your reason is because of moving, downsizing, or something else, ending a contract before its term can seem impossible. With the right approach, you may have options. A Texas lawyer can help walk you through your specific situation to determine if lease termination is truly the best route or if better solutions exist.
Review Your Lease Contract Termination Clauses
First, you will need to examine the termination provisions in your existing lease. Many contracts include negotiated clauses detailing acceptable reasons, proper notices, fees, and processes for early termination. However, termination rights are not guaranteed. Carefully review all terms related to early termination, even if they seem standard at first glance. Specific wording could provide an opening or loophole to get you out of the lease.
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