Austin Texas Estate Planning Blog

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rocky coast: The Perils of Joint Property

The Perils of Joint Property or Ownership

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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Mansion: What Happens to An Adult Child Living at Home When Their Parents Pass Away

What Happens to An Adult Child Living at Home When Their Parents Pass Away?

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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Row houses: Navigating FinCEN Real Estate Reporting Requirements A Guide for Austin Estate Planning

Navigating FinCEN Real Estate Reporting Requirements

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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A Suburban Home: What Happens To Real Estate With A Mortgage When I Die?

What Happens to Real Estate With a Mortgage When I Die?

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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stamp of lbj: What Should I Know about Lady Bird Deeds

What Should I Know about Lady Bird Deeds?

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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What Is the Effect of an Unrecorded Deed

What Is the Effect of an Unrecorded Deed?

Posted on: August 27, 2023
A deed is a legal document that transfers real property ownership rights from one person or entity (the grantor) to another (the grantee). In many cases, this transfer occurs because the property is sold, with the seller transferring the property to the buyer. Typically, a deed is recorded with the local county recorder of deeds. […]
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What Is Multigenerational Estate Planning

What Is Multigenerational Estate Planning?

Posted on: July 27, 2023
When multiple generations live on the same property, issues over ownership, who inherits what and who provides what can get complicated fast.
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Transferring Real Estate to Children

Transferring Real Estate to Children

Posted on: April 3, 2023
For many parents, transferring real estate to their children is an important part of their estate planning process. There are several ways that parents can do this, each with its own advantages and disadvantages.
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