Laws vary on whether a houseboat is a home, if it is protected from creditors or if there can even be any tax benefits. Medicaid, bankruptcy and the Internal Revenue Code all address treatment of houseboats. MEDICAID TREATMENT OF HOUSEBOATS AS HOME: Under long-term care Medicaid...
Oscar winning movie star, Gene Hackman, died on February 18, 2025, about a week after his wife, Betsy Arakawa. The couple lived in New Mexico, a community property state. They wed in 1991. Hackman had a large estate estimated to be around eighty million dollar...
The most valuable asset that many own is their home. However, sometimes creditors sue to collect debts such as credit card bills, medical bills, personal loans, etc. Bankruptcy can protect your homestead from unsecured creditors – especially if you choose a Texas bankruptcy exemption. Although...
Public benefits (such as long-term care Medicaid and non-service-connected disability benefits for wartime veterans or his or her surviving spouse) are “means-tested”. In other words, the government looks at your resources when you apply to determine if you are eligible for the government to help...
Although a common-law spouse has the same protections and rights as a traditional ceremonial marriage, proof is often required of marriage to be afforded such marital rights, protections and privileges under Texas law. Therefore, if the proof is precarious, the legal rights (ranging from inheritance,...
Will the battle over Charles Manson’s $1 million estate last longer than the time Manson spent in prison (Manson actually spent 47 years in jail until his death in 2017)? The court case has been ongoing for over 7 years. On February 21, 2025, a...
Since Texas has no state income tax (not to mention any inheritance tax), property taxes have been historically higher here than in most states. The previous Texas legislative session addressed this by increasing the homestead exemption for school district taxes from $40,000 to $100,000 (as...
It is not unusual for someone who lives in another state at the time of his or her death but owns real estate (including mineral interests) or other tangible personal property such as livestock, vehicles, collectables or business interests in Texas. The state of Texas...
Estate Planning Decision Tree Chart for Will vs. Revocable Living Trust – 20 Issues One of the most common dilemmas in estate planning is whether it is better to have a Will or a Revocable Living Trust (RLT). There are numerous types of trusts, but this...
A Texas Court of Appeals recently ruled that JP Morgan Chase Bank should not be liable for permitting a withdrawal of funds to one “heir” as determined by an Order Approving a Small Estates Affidavit. Cubie Beatrice Redus died in 2006. One of her daughters, Mable,...
