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Community property laws are a factor in many estates that require a probate proceeding. Community property, also known as marital community property, is similar to joint tenancy. Under joint tenancy, both spouses own all property equally, and upon the death of one spouse, his or her interest in the property is automatically transferred to the...
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Texas Trust Estate Planning
An irrevocable trust is a legal arrangement where the creator (settlor) of the trust transfers assets to another person or entity (trustee), while retaining the right to receive income generated by the trust and/or take possession of the trust property at a later date. If you are considering setting up an irrevocable trust, here’s a...
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