To a certain extent, everyone does some of their own estate planning without consulting their attorney. Once you understand the context and effect of a decision, you don’t always need to ask your lawyer’s opinion. That said, there are some planning concepts that are very technical and, if done incorrectly, can cause heartache, increase expenses, block progress, or increase taxes (among a few of the possible negatives).
a life estate deed is a real estate ownership arrangement under which the owner sells or gifts to a recipient a “remainder interest” in a property. The owner then holds “life estate” the in the real estate, which includes the right to occupy, use, enjoy, and profit from the real property so long as the life estate holder remains alive.
This column first appeared in the San Antonio Express News and other Hearst Newspapers on January 28, 2019. Dear Mr. Premack: My husband and I are in our 60’s. We have been married for a few years, but it is not our first marriage. We are a blended family. I think we need to do…
This column first appeared in the San Antonio Express News and other Hearst Newspapers on December 18, 2018. Dear Mr. Premack: A married man and woman own a house in Texas, and raise their four children there. He dies in 1981, intestate, while in Oklahoma. There is no legal action taken when he dies. Surviving…
This column first appeared in the San Antonio Express News and other Hearst Newspapers on November 26, 2018. Dear Mr. Premack: I know you work primarily with retirees, but since you write about Wills and Estate Planning I’m hoping you can answer this question. My husband and I have two young children, pets, and a…
This column first appeared in the San Antonio Express News and other Texas Hearst Newspapers on August 24, 2018. Dear Mr. Premack: I am in my second marriage. My husband’s his first wife died years ago with a probated Will leaving the house to him. He has grown children, all married. We remodeled the home…
This column first appeared in the San Antonio Express-News on May 11, 2018. Dear Mr. Premack: I want to help my family. We have never had anyone divorce in our family. Then my son’s wife divorced my son. She kept their two young children. I get along with the grandchildren just fine. It’s bad because…
This column appeared in the San Antonio Express-News on January 5, 2018. Dear Mr. Premack: My grandmother made me a 25% heir of her estate in her Will. Three daughters with her first husband were left the other 75%. My mother, who had a different father, was not included as an heir. Grandmother died in…
