Posted on: March 13, 2025
Planning for the future of your home can be complicated, especially when you want to ensure that a loved one can continue living there after you are gone. Two standard tools for accomplishing this are life estates and right of occupancy trusts. A life estate grants someone the legal right to live in a home […]
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Posted on: March 3, 2025
Rising housing costs, the desire for companionship, and the need to share resources increasingly lead buyers to consider buying a home with someone other than a spouse, such as a friend, relative, or significant other. Although this arrangement can be beneficial on several levels, it should be approached with open communication, careful planning, and a […]
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Posted on: February 4, 2025
A home is often one of the most important assets that people own. Therefore, most people want to stay in their homes until they die and then have a loved one receive it. One common way to pass a home to loved ones is through a will. However, transferring property with a will requires probate, […]
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Posted on: November 7, 2024
One common way to avoid the probate requirement for real estate after the owner dies is to add children or other individuals to the property title as joint owners with rights of survivorship. When joint owners have survivorship rights, and one joint owner passes away, the remaining owners automatically receive the entire interest of the […]
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Posted on: September 9, 2024
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate. Also, joint property […]
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Posted on: May 16, 2024
More young adults live at home with their parents today than ever since the 1940s. While there are many different opinions about this trend and the cause of its recent prevalence, the primary motivation for young adults staying at home with their parents is usually related to finances. Most adult children still at home plan […]
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Posted on: April 1, 2024
Introduction When safeguarding your family's future, understanding the nuances of estate planning is paramount. For Austin professionals, this task has become more intricate with the introduction of the FinCEN real estate reporting requirements. This guide will walk you through what these changes mean for your estate planning efforts and how to ensure your plan remains […]
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Posted on: February 15, 2024
Like the rest of your debt, your mortgage does not simply disappear when you die. Suppose you leave your home with an outstanding loan to a beneficiary in your will or trust. Your beneficiary will inherit the property and the outstanding debt in that case. They may have the right to take over the mortgage […]
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Posted on: September 11, 2023
As Lady Bird deeds grow in popularity, it is important to discuss and understand the benefits and limitations of these deeds.
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