News & Analysis as of September 26, 2024

Beneficiaries

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Court of Appeals of Virginia Determines Will Creates Determinable Life Estate with a Contingent Fee Simple Subject to a Condition...

Kaufman & Canoles on 4/22/2024

On Tuesday, in Brown v. Johnson, Record No. 0491-23-4 (Ct. App. Va. April 16, 2024), available here, the Court of Appeals of Virginia affirmed a decision from the Circuit Court of Fairfax County, holding that a will created a...more

What Is a Life Estate?

Chambliss, Bahner & Stophel, P.C. on 11/17/2022

When discussing estate and Medicaid planning, the phrase “life estate” is sometimes mentioned, but what does it mean? A life estate is a form of joint ownership that allows one person to remain in a house until his or her...more

Court Holds That Trust Owned Mineral Interests And Not The Settlor’s Wife

Winstead PC on 10/25/2021

In Moore v. Estate of Moore, a decedent’s wife claimed that she had an interest in an oil and gas lease formerly owned by her deceased husband. No. 07-20-00019-CV, 2021 Tex. App. LEXIS 6142 (Tex. App.—Amarillo July 30, 2021,...more

How Can the Same Right Create 2 Separate Property Interests?

Holland & Knight LLP on 7/26/2021

The Internal Revenue Service (IRS) can file a lien and levy on any and all of a taxpayer's property (and rights to property) regardless of how the property is held or titled. 26 U.S.C. § 6321. Whether the item is a taxpayer's...more

Court Holds That A Will Left A Partial Intestacy

Winstead PC on 2/19/2019

In Sullivan v. Hatchett, a husband executed a will giving his wife a life estate in his property. No. 07-17-00296-CV, 2019 Tex. App. LEXIS 980 (Tex. App.—Amarillo February 11, 2019, no pet. history)....more

Texas Supreme Court Holds That Testator Devised Property As A Life Estate

Winstead PC on 3/26/2018

In Knopf v. Gray, the will disposed of the testator’s entire estate, specifically including a tract of land. No. 17-0262, 2018 Tex. LEXIS 249 (Tex. March 23, 2018)....more

Court Holds That A Wife Devised Her Property In Fee Simple Determinable To Her Husband With An Executory Interest To Her Son; So,...

Winstead PC on 2/26/2018

In In re Estate of Hernandez, the issue in the case was whether clauses in a will conveyed a life estate to the decedent’s husband. No. 05-16-01350-CV, 2018 Tex. App. LEXIS 755 (Tex. App.—Dallas January 24, 2018, no pet....more

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