Austin Inherited House Lawyer and Austin Inherited Real Property Lawyer Helps Heirs and Family Members Transfer, Sell, Collect, and Clear Title to Texas Inherited Real Estate by Austin Inherited House Lawyer and Austin Inherited Real Property Lawyer
Austin Inherited House Lawyer and Austin Inherited Real Property Lawyer Jason Coomer represents heirs and families that need assistance transferring, selling, collecting, claiming, and/or clearing title to Austin houses, Austin real property, and other Texas inheritance. For questions on Texas probate law and information regarding clearing title to, selling, and claiming Texas real property, please feel free to send an e-mail message to Austin Texas Inherited House Lawyer and Austin Inherited Real Property Lawyer Jason S. Coomer or use our contact form to submit an inquiry regarding a claiming Texas Inheritance.
What Is Inheritance and What is Texas Inheritance Law?
Inheritance is the practice of transferring wealth or obligations upon the death of an individual to another person or entity. Inheritance allows people to transfer land, businesses, stocks, jewelry, and other wealth to people that they love and/or family members. It is estimated that in the United States over $200 Billion each year is transferred or passed down through inheritance to heirs and beneficiaries. Each state and country has their own laws regarding inheritance including testate and intestate laws. Testate laws include inheritance through Wills, whereas intestate laws cover what happens to property when the decedent does not have a valid will.
Under Texas law, if a person has a valid Will, then the person's assets should pass as per the person's instructions in their Will. It is the executor's duty to make sure that the decedent's wishes in their will are carried out. The executor is named in the Will, but a person cannot become an executor until the decedent has died and the Will has been admitted to probate. If the person did not have a valid Will, their probate assets will be covered under Texas intestate laws. Texas intestate laws determine who the decedent's rightful heirs at law are and what portion of the person's estate should be inherited by each of these heirs. These laws also determine what procedures need to be followed to correctly transfer the inheritance to the rightful heirs.
Through Intestate and Testate Laws, Texas courts over see the transfer of a tremendous amount of inherited wealth each year. The amount of inherited wealth that will be passed through inheritance is expected to increase substantially in the next 20 years as Trillions of Dollars in wealth will be transferred through inheritance.
Many Situations Can Cause Texas Inherited Real Property and Texas Family Businesses To Become Trapped After The Death of a Family Member: Failure To Clear Title To Texas Inherited Real Property and Texas Family Businesses Can Result In The Loss Of Family Wealth
After a family member dies, their real property or business can become stuck in the inheritance process and if proper action is not taken it can be lost to foreclosure, taxes, competitors, non-family members, or the State of Texas. These situations are especially common when the person dies without a Will, leaves no instructions as to what they want done with their possessions after they die, and/or has no accurate inventory or accounting of their wealth. In these situations, Texas real property and Texas businesses will need to be transferred under Texas intestate law. As such, it is important to understand what Texas intestate law says on how the estate should be divided and how title to the real estate and ownership of the business can be transferred.
In addition to the issue of intestate succession, there are also a number of other common situations that can cause inherited real property and businesses to become stuck. The first situation occurs when the family is unable to move forward with the probate process because of lack of resources. The second situation occurs when the family is unable to move forward with probate because of proximity issues. In other words, the heirs do not live in Texas or close to where their loved one died. In a third situation, family members can start fighting over their loved one's estate. In a forth situation, there is not sufficient information to know the amount of or location of wealth that needs to be transferred. In other words, the family member that died or become incompetent did not do sufficient estate planning or communicate with their family members regarding their wealth. In all these situations, Texas real estate and businesses can become stuck for years or can even be lost.
As A Texas Contingent Inheritance Lawyer, Jason S. Coomer, Can Sometimes Represent Heirs On Contingent Contracts Where No Upfront Payment Is Required and Attorney's Fees Can Be Collected Out of Recovered Inheritance
In some situations family assets cannot get transferred or collected by their rightful heirs because the heirs cannot afford the cost of probate and other transfer costs. In these situations, a Texas Contingent Inheritance Lawyer can sometimes represent heirs on a contingent contract where a percentage of the recovered inheritance can be used to pay attorney's fees. In these situations, the Texas Contingent Inheritance Lawyer will typically need to see evidence that there are actual significant assets in the estate and who the rightful heirs of the estate are. In these cases, bank statements, life insurance policies, royalty statements, mutual fund statements, retirement fund statements, real property deeds, property tax information, and other evidence of the estate assets can be useful in determining the approximate value of the estate and if a contingent contract for probating the estate can be viable. For more information on a Texas Contingent Inheritance Lawsuit, please feel free to go to the follow web page: please feel free to send an e-mail message to Texas Inheritance Lawyer Jason S. Coomer or go to the following web page: Texas Contingent Probate Lawyer and Death Benefit Collection Lawyer.
Unclaimed Wealth (Real Estate, Oil Interests, Bank Accounts, and Stock)
In addition to what is inherited, there is a significant amount of unclaimed wealth including bank accounts, houses, oil interests, safety deposit boxes, stocks, and other wealth that is forgotten about. In our modern society families don't always live close and some wealth is lost or forgotten. Death or incapacity is not always anticipated and many people will unfortunately loose track of stocks, bank accounts, oil interests, and other wealth. It is a good idea to keep a safety deposit box with an inventory of all your assets and have people that you trust that can get access to your safety deposit box should something happen to you.
It is also becoming more common for family members not living close to a recently deceased relative to not know how to handle a probate matter or have enough money to clear title to property. In these instances it is good to locate a local attorney that can assist in appraising an estate including real estate and houses to determine if it would be beneficial to probate an estate or to determine the most efficient method to clear title to property.
Texas Inheritance Lawyer Handles Texas Inheritance Lawsuits and Commonly Works With Other Texas Inheritance Lawyers
Texas Inheritance Lawyer, Jason Coomer handles inheritance issues and probate matters throughout Texas. He commonly works in Travis County, Williamson County, Bexar County, and Hays County and throughout Texas on large inheritance cases. He also commonly works with other Texas inheritance lawyers across Texas including Dallas County, Harris County, Fort Bend County, and Tarrant County. For Texas Inheritance questions on Texas Inheritance Issues, please feel free to send an e-mail message to Texas Inheritance Lawyer Jason S. Coomer or use our contact submission form.
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