Probate can be a long and drawn-out process that can expend valuable financial and emotional resources. Avoiding probate proceedings can help families manage expenses while dealing with their loss. Law firms that offer Sugar Land estate planning services can provide you with real peace of mind and the assurance that your family will be protected even if the worst should occur. Here are some of the most effective ways to avoid probate in the state of Texas.
For married couples, joint ownership arrangements are designed to ensure that the surviving spouse retains possession of major assets if one of the two partners should die. Joint ownership agreements in the state of Texas fall into one of two categories:
- Survivorship community property arrangements are available only to married couples and provide a legal framework for ensuring that these assets remain the property of the surviving member of the marital union.
- Joint tenancy contracts offer similar protections for married couples and unmarried individuals. Upon the death of one of the joint tenants, the other parties to this contractual arrangement retain ownership in equal shares of the property or assets in question.
Working with an established Sugar Land or Katy estate planning attorney can help you to determine the most effective joint ownership strategies for your valuable assets.
Setting up a living trust can also help your family avoid probate and can provide you with added control over the distribution of your real estate holdings and other assets. Retaining the services of an established Sugar Land real estate law firm can ensure that you have the professional help needed to create and file these trust documents to protect your beneficiaries from the stress and delays associated with probate proceedings.
A new Texas law that went into effect on September 1, 2015, allows Texas property owners to register a transfer-on-death deed with the county in which the real estate property is located. This can provide an effective and convenient way to keep these assets out of the probate process and to ensure that the designated beneficiaries can receive these properties without significant legal entanglements.
The legal experts at Lambert & Jakob can provide you with the most effective estate planning strategies to keep your property out of probate and to ensure that your assets are disposed of according to your wishes. By enlisting our help in managing your estate, you can enjoy greater peace of mind throughout the process. Call us today at 713-640-5700 to schedule an initial consultation.