Blogs from 2022

It is often said that the responsibility of today should not be left to tomorrow. The same rings true for estate planning. Too many people put off creating an estate plan until it is too late. This can lead to much heartache for loved ones who are left to deal with the aftermath. Our Dallas-Fort Worth estate planning attorneys discuss the importance of estate planning and how it can be the foundation for leaving a legacy.

Leaving Your Legacy in Safe Hands

Estate planning is the process of creating a plan for how your assets will be distributed after you pass away. This includes everything from your home and other property to investments and even digital assets. It also includes making arrangements for who will care for any minor children you have.

Many people put off estate planning because they think it is something only wealthy people need to worry about. However, estate planning is vital for everyone, regardless of how much money or property you have. This is because informed estate planning can help avoid probate, the legal process of distributing your assets after you die.

Probate and the Benefits of Avoiding It

Probate can be lengthy and costly and can tie up your assets for months or even years. It is also a public process, meaning anyone can see how your assets are distributed. If you do not want your personal business to be made public, estate planning can help you to avoid probate.

In addition to avoiding probate, informed estate planning can also help to ensure that your assets are distributed according to your wishes. If you die without a will or trust, your assets will be distributed according to your state's laws of intestate succession. This means your assets may not go to the people or causes you intended.

If you are currently facing probate or are about to, check out our must-read blog, Working with Your Probate Attorney. We discuss the factors that may impact the process and cost of probate.

What You Can Do to Prepare

The first step is to seek the legal advice of an estate planning attorney. An experienced estate planning attorney can help you to craft a plan that meets your needs and ensures that your legacy is secure. They can also help to ensure that your estate plan is legally valid and will be enforced by the courts.

The second step in estate planning is to inventory your assets. This includes everything you own, from your home and other property to investments and even digital assets. You will also need to make a list of your debts and liabilities. Once you have a clear picture of what you own and what you owe, you can decide how you want your assets to be distributed after you die.

Contact our attorneys at Crain & Wooley to start estate planning today. Our estate planning attorneys are dedicated to helping you plan for the future and ensure your legacy is in safe hands. Don't wait - take the responsibility of today into your own hands and begin estate planning now.

Get in touch with our team today at (972) 945-1610">(972) 945-1610 to schedule a consultation!

Is it possible to access probate records? Probate records include what information? How can I access probate records? All of these questions are commonly asked about probate. Our Dallas-Fort Worth probate team provides answers to these questions and more! Continue reading.

How Does Someone Access Probate Documents?

The first thing to note is that probate records are indeed public. Upon filing with the court, these documents become public records. Accessibility may vary depending on the probate court and jurisdiction.

What Information is Included in the Probate Records?

Any document the court creates or submits to the court is considered a probate record. These generally include:

• The petition for probate

• The will

• Estate inventories

• Letters testamentary or letters of administration

• A final accounting

How Can I Keep Probate Records Private?

The probate documents of an estate must become public once someone dies, and there is almost nothing that can prevent this. Probate judges may seal probate records if they find a compelling reason to do so (such as when an Oklahoma judge thought a probate record might unfairly prejudice a jury against a defendant accused of murdering his father). Rarely does it happen, and it can't be relied upon.

The best way to maintain privacy is to utilize a living trust, which allows for asset transfers and distribution without the need for probate proceedings. It is highly recommended to seek the guidance of an experienced estate planning attorney.

How Can I Access Probate Records?

In order to access probate records, you may need to visit the probate court in the jurisdiction where the individual passed away. It is also possible to access some probate records online through the probate court's website or a third-party portal. Additionally, it may be necessary to pay a small fee for copies of the documents.

Crain & Wooley Can Assist You Through the Probate Process

In summary, while it may be possible to seal certain probate records in rare cases, generally speaking, they are public documents. The best way to keep them private is to plan ahead with an estate planning attorney. If you have questions about probate or need assistance setting up an estate plan, our Dallas-Fort Worth probate team is here to help. Contact us today for a consultation.

Contact us through our website or give us a call at (972) 945-1610.

Unscrupulous people often exploit the elderly and sick through undue influence. The litigation team at Crain & Wooley explains what constitutes undue influence, how it can be proven, and the process to contest a will.

Understanding Undue Influence

The American Bar Association defines undue influence as "excessive persuasion that overrides another's free will and results in inequity." Many older people are targeted through deceit of this type, leading to their will not reflecting their true wishes. Undue influence cases are typically seen in probate courts when guardianships, conservatorships, disputed wills, and trusts are filed. The following are some examples of undue influence:

● Threatening a person until they sign a document

● A caretaker manipulating a senior into adding them to a will

● Isolating and managing the finances of an incapacitated partner

● A family member controlling an elderly person's access to information

How to Prove Undue Influence

If a testator signs a will under coercion, manipulation, duress, or influence, the will's validity could be challenged in court. Undue influence requires three elements to be established about the influencer:

1. They received some substantial benefits from the will;
2. Had a close and trusting relationship with the creator of the will; and
3. Actively procured the will.

As soon as these are proven, the burden of proof shifts to the beneficiary to prove that undue influence did not occur.

Because we cannot know what someone who is no longer with us was thinking when they made their will, it is often difficult to prove undue influence. If you have an experienced probate attorney on your side, you will be able to dispute the document's validity in court.

How to Contest a Will Based on Undue Influence

If you believe a will was created due to undue influence, you can file a petition with the court to have it invalidated. The first step is to hire an attorney specializing in probate law with experience handling these cases. Once you have an attorney, they will file a complaint with the court and notify the other beneficiaries of the will. The court will then set a hearing date, and both sides will present their evidence. After hearing both sides, the court will decide whether or not to invalidate the will.

Your Next Step

Texas has a very short time limit to dispute a will. It is imperative to act quickly at the first sign of foul play in creating a will. We have over 15 years of experience helping clients contest wills and can also help you.

You can schedule a consultation with our team today by contacting us through our website or calling us at (972) 945-1610.

One of the most important aspects of estate planning is ensuring that your investments are transferred correctly after death. This can be a complex process, especially if you don't have a plan in place. That's why it's essential to work with a professional who can help you every step of the way. Our Dallas-Fort Worth estate planning attorneys discuss the process of transferring investments after someone passes away.

What Will Happen To My Investment After I Pass Away?

When someone passes away, their executor is responsible for handling the transfer of their investments. Investments are transferred to beneficiaries after the testator's death. There are generally three ways to ensure that your investment assets are transferred after death:

• Transfer on death (TOD) registration
• Trust accounts
• Probate process

Read on to learn more about your options.

Transfer on Death (TOD) / Payable on Death (POD)

TOD/POD registration is available for most types of investment accounts, including:

• 401(k)s
• IRAs
• Brokerage accounts
• Life insurance policies

With TOD/POD, you can fill out a form with your investment company to designate a beneficiary for your account. This designation is revocable, meaning you can change the beneficiary at any time. When you die, the recipient should receive the asset. Notice, we say should and not will. Our firm always has numerous probate cases in which a TOD/POD was "supposed to work" and didn't. Why is that? Three common reasons are:

1. Software error at financial institution. Whether it be a software upgrade or two businesses merged and used a new software system, designations are lost and institutions will require judge's orders to release the monies.
2. Designation of a minor. A person is NOT allowed to receive an inheritance until they reach 18 years old. 
3. The default rule of law is to have judge's orders before releasing assets from a decease person's estate. There is NO law that says a financial institution has to honor TOD/POD designations. So, if there are ANY questions at all institutions are well within their rights to ask for judge's orders before releasing money. 

Trust Accounts

Trusts are arrangements in which property is transferred to a trustee, who manages the assets for the benefit of the beneficiary. Trusts can be either revocable or irrevocable. Learn more about trust on our website.

With a revocable trust, you can change the terms of the trust at any time and even dissolve the trust entirely. In contrast, an irrevocable trust is a permanent arrangement that cannot be altered without the beneficiary's consent.

Trusts can be used for various purposes, including estate planning and customizable asset distribution. Regarding investments, trusts can be set up so that a trustee manages the assets to benefit the beneficiaries. This can help avoid probate and ensure that the assets are distributed according to your wishes.

Crain & Wooley is Committed to Protecting Your Investments

At Crain & Wooley, we understand the importance of protecting your investments. We offer a variety of services to help you plan for your future and ensure that your assets are transferred according to your wishes. Contact us today to learn more about our services.

Please call or fill out our online form to schedule a consultation.

We have had clients ask us if they should be concerned about someone stealing the title to their house and what they should do about their concerns. The concern relates to the theory that a title thief may be able to forge paperwork and file documents with the county office showing evidence that they own your property instead of you.

Fortunately, many counties offer free notice services that you can sign up for to receive notice if there have been any filings related to your property. To make things easier for clients in the counties near our office, we have compiled the links for nearby counties that are providing free notice services.

Dallas County Property Fraud Alert Website: https://www.dallascounty.org/government/county-clerk/recording/property-fraud.php

Collin County Property Fraud Alert Website: https://www.collincountytx.gov/public_information/features/Pages/property_fraud_alert.aspx

Denton County Real Property Alert Service Website: https://denton.tx.publicsearch.us/property-alert

Tarrant County Property Fraud Alert Website: https://www.tarrantcounty.com/en/county-clerk/real-estate-records/property-fraud-alert.html

Rockwall County Property Fraud Alert Website: https://www.rockwallcountytexas.com/1104/Property-Fraud-Alert

If your county is not listed here, we would encourage you to contact your county clerk and ask if they have a similar property alert available that you can sign up for to receive alerts regarding your property. By signing up for the alert, you will be notified if anyone changes your property including any time that land records are filed using your name.

Questions or concerns about the protection of assets? Give us a call at 972-560 6288!

A living trust is a popular estate planning tool, but it's important to understand the common mistakes people make with them. At Crain & Wooley, we want to help you avoid these mistakes and ensure that your trust effectively protects your assets and provides for your loved ones. This blog post will outline the most common mistakes made with living trusts and how you can avoid them.

What Is a Living Trust?

Living trusts are legal documents that can be used to plan and distribute your assets to loved ones, just like wills. Living trusts become active the moment they are created, assigning trustees to manage certain assets -- like your house -- for the benefit of the beneficiaries. Revocable or irrevocable living trusts are available.

You can change the terms or control of assets in a revocable trust at any time. The upside to this flexibility is that your assets still count as part of your estate after death. In an irrevocable trust, your assets are no longer included in your estate, but you give up some control over the trust and its assets.

Mistakes to Avoid When Setting Up a Revocable Living Trust

Having a living trust does not mean everything is taken care of. Here are a few common mistakes people make with their living trusts.

Not Placing Your Home In The Trust And Not Coordinating Financial Assets With Your Trust

If you don't place your home in the trust, it won't be subject to the terms of the trust when you pass. That means your trustee will have no authority over it, and your loved ones will have to go through probate—a time-consuming and expensive process—to transfer ownership.

It is extremely important that you coordinate all other titled financial assets with your trust. For example, certificates of deposit (CDs) and checking accounts must be coordinated with your trust in order for your successor trustee(s) to have access without going to court. In general, tax-deferred accounts should stay outside of your trust but have your trust named as its beneficiary.

Naming The Wrong Successor Trustee

Since your successor trustee does NOT have to be a professional like a banker or a CPA, it is important to select the proper person(s). The successor trustee will have immediate access to your assets without the court oversight of the probate process. People often name one or more of their adult children successor trustees, but you should carefully consider all your candidates. Think about how long the trust will last (for example, to provide for a child with special needs), the personalities and abilities of the candidates, their location, and how busy they are with their own affairs.

Not Keeping The Trust Document Current.

Your trust reflects your personal, family, and financial circumstances when it was created. Over time, these things will change, and your trust will also need to change. Have your trust reviewed every year or so and update it as needed.

Not Speaking With an Estate Planning Attorney

Working with an experienced estate planning attorney is one of the best ways to avoid making mistakes with your living trust. An attorney specializing in estate planning can help you create a living trust that meets your unique needs and enables you to avoid common pitfalls.

Crain & Wooley Is Here For Your Estate Planning Needs

Estate planning is customized to the needs of individuals and families; not a one size fits all proposition. At Crain & Wooley, we take the time to learn about your unique family dynamics and financial situation. We then craft a comprehensive estate plan designed to protect your assets and provide for your loved ones as you intend. To learn more about how we can help you, contact us today.

Contact us today at (972) 945-1610 to schedule a consultation!

When you meet with me to start discussing your custom estate plan, the first thing I’ll probably say is “What are your goals? What are your concerns? What is it that you’d like to get taken care of?” Sometimes clients say something like “We just want everything to be sold and split equally to our kids. Our daughter can take care of everything. We want it to be easy.” Sometimes clients say something like “I want to make sure my nephew is taken care of, but he’s had some issues with substance use disorder. I know I can’t just give him a bunch of money, so I need to know what I can do to help him without enabling him.”

We don’t just create valid legal documents, we create valid legal documents that are customized to you and your situation. A Texas law license says “ATTORNEY AND COUNSELOR AT LAW.” We will counsel you through how the law can work in coordination with your intended plans.

I often find myself counseling clients on the sliding scale between security and convenience. For any plan, you should pick someone that you truly trust as your trustee, executor, and agent. Once you’ve decided who that person would be, we can help you decide where your plan should be on the scale between security and convenience.

For example, if you want things to be easy for your daughter to distribute your estate equally to herself and her siblings, we can write a plan where your daughter will be instructed to liquidate everything that you have and just split the cash. However, you can give them the flexibility to decide amongst themselves that, say, your son keeps your house and your other kids split the cash. If you can trust them to work it out themselves, we can give them the power to do so. This kind of plan is on the far end of the scale towards convenience.

However, if your wish is to take care of your nephew that has struggled with substance use disorder, we might have to move that scale to the far end of security. You might need a corporate fiduciary (a bank or law firm that’s in charge of assets) that can handle making decisions about substance testing, care in a facility, other medical help, assistance with living and transportation needs, and other financial help besides handing him a big bag of cash. While this kind of plan might be less convenient to administer, it might be necessary.

When you come in to work with an attorney and counselor at law, we can help you decide where you and your loved ones need for your plan to be on the scale of security versus convenience.

Need to decide on how to distribute your assets after your passing? We are here to help! Visit us here to find out how we can address your estate planning needs.

Texas Health and Safety Code Section 711.002 details who has the authority to deal with a funeral home or morgue to determine how your remains should be buried, cremated, or laid to rest in another way. While the Code specifically ranks which family members have priority over the others, the best way to ensure that your wishes are carried out is to properly execute an Appointment for Disposition of Remains.

Even if the ranking according to the code aligns with your wishes, there’s a better way to ensure that your loved ones will be able to adhere to them. Instead of your spouse or kids having to prove that they’re your spouse or kids, you should list them on your Appointment of Disposition of Remains to facilitate the process during a stressful time.

More importantly, though, there are two specific situations where you absolutely need to properly execute the form:

1. If your friend, partner that you’re not formally married to, or “chosen family” members are the ones that you want to handle this very important matter, you will specifically need to name them in the document. Furthermore, you’ll want to create that document with a licensed attorney to ensure that it’s properly executed.
2. If you specifically do NOT want one of your “blood family” members to handle the disposition of remains, you’ll need to make that clear in a specifically written document.

Appointment for Disposition of Remains is just one of the important documents that you and your loved ones will need as part of your comprehensive estate plan.

Need to plan for disposition of your remains? We are here to help! Visit us here to find out how we can address your estate planning needs.

You may be asking yourself, do I need an estate plan if I am not wealthy? The answer is yes. No matter your net worth, you should have an estate plan in place. There are many reasons why having an estate plan is important, even if you are not wealthy. Our Texas estate planning attorneys discuss the importance of having an estate plan and why you do not have to be rich to have one.

Handling The Unexpected

Life is full of surprises, some good and some bad. No one knows what tomorrow will bring, which is why it’s essential to be prepared for anything. An estate plan can help you be ready for the unexpected. For example, if you are in an accident and become incapacitated, your estate plan can designate someone to make financial and medical decisions on your behalf.

Protects your heirs and beneficiaries

An estate plan can also help protect your heirs and beneficiaries. Without an estate plan, the state will decide how your assets will be distributed upon death. This may not be in line with your wishes. With an estate plan, your loved ones will receive the assets you want them to have without interference from the courts.

Avoiding Or Minimizing Probate

Probate is the legal process of distributing your assets after you die. If you pass away without an estate plan, your assets will go through an INTESTATE probate and be distributed according to state law. Intestate probate can cost up to double a traditional probate and can take years to finalize. An estate plan can help avoid or minimize probate by specifying how you want your assets to be distributed.

Let Crain & Wooley Help You With Your Estate Planning

Estate planning is not just for the wealthy. Everyone can benefit from having an estate plan, regardless of their net worth. If you have any assets, do not wait until it’s too late. Contact our office today to get started on your estate plan. We have the experience and knowledge to help you craft a plan that meets your specific needs and goals.

Call us at (972) 945-1610 to schedule a consultation today!