An irrevocable trust is what it sounds like: irrevocable. One way this type of trust is commonly used is for a parent to set up a trust for their children. The trust has creditor protection and tax benefits. But, when things change through the years, the trust does not. The terms of the trust, the assets in the trust, the beneficiaries, and the trustee do not change. Although its terms cannot be changed, over the last 25-plus years, statutes have been enacted that have ways around the term “irrevocable” and there are now some ways that an irrevocable trust can be changed. At Springer … [Read more...]
Mistakes Parents Make During a Divorce
Psychiatrists and psychologists concluded quite a few years ago that going through a divorce is the second most stressful life event. This is true even if both parties agree that a divorce is the right thing for them. Unfortunately, parents can get so focused on the financial and emotional aspects of how the divorce process is affecting them that they don’t pay enough attention to what is happening with the children. It is easy for them to make mistakes during the divorce that continue even after the divorce is final. Some Common Mistakes Parents Make During the Divorce Parents do not … [Read more...]
What Makes a Will Invalid?
A properly executed will allows a person to have their assets distributed according to their wishes after they die. The person who prepares a will is referred to as the testator. The Texas Estates Code sets out the requirements that must be met by the testator for the document to be valid. There are also exceptions to the basic requirements. Requirements for a Will to be valid Legal capacity. The testator must meet the requirements for having the legal capacity to execute a will. The testator must: Be at least 18 years of age.If not 18, the testator must have been … [Read more...]
Questions To Ask In A Divorce Consultation
When looking for a divorce attorney, you need someone who is not only experienced and successful but someone with whom you also have rapport. You are trusting the attorney you choose to help you make life-altering decisions. To make this match, you want to interview attorneys. Some recommend interviewing about three different attorneys. There are important questions to ask before deciding which attorney is the right divorce attorney for you. Questions to Ask When Hiring a Divorce Attorney Friends or relatives, or even business acquaintances may recommend an attorney to you who they … [Read more...]
What Happens When Someone Dies Without A Will in Texas?
If someone dies in Texas without a will, the Texas Estates Code governs how the estate is distributed. A person who dies without a will is said to have died “intestate.” The law provides complicated guidance as to how property of a person who dies intestate is divided. The important thing to remember is that the estate does not automatically go the state but is distributed among the decedent’s closest relatives. Property Exempted from Intestate Estate Distribution Laws Some types of property are exempted from the Texas Estates Code distribution laws that apply to … [Read more...]
Mistakes That Can Hurt Your Personal Injury Claim – Part 2
A few years ago, a man in the middle of a personal injury lawsuit learned the hard way the importance of not posting on social media. At Springer & Lyle, we want you to understand mistakes you can make during the pendency of your lawsuit that can seriously affect your claim. The main mistake people make is posting about their activities, photos, and videos on social media. How Posting on Social Media Can Negatively Affect Your Case Three adult boy scout leaders took a group of scouts to explore Utah’s Goblin Valley State Park. The three leaders climbed a hill and pushed a … [Read more...]
Mistakes That Can Hurt Your Personal Injury Claim – Part 1
Accidents are scary. Your heart races and adrenaline flows. If you are injured, you are in physical pain and unsure about what will happen next. At Springer & Lyle, we have some advice about avoiding doing or saying things that may affect your personal injury case. 1) Admitting the accident was your fault. You may apologize for the damage that is apparent right after the accident, which is tantamount to an admission of fault. You should not do this before an investigation even if you sincerely believe it was your fault. You may think you caused the accident by pulling out in front of … [Read more...]
Do Mothers Always Get Custody of the Kids?
There was a time when people in general and family law courts presumed it was in the best interest of the children to give primary custody to the mother. In recent years, that presumption has changed in Texas and almost all other states. In Texas, when parents’ divorce, the law presumes that the parents should be "joint managing conservators." This means that they would share decision-making responsibilities concerning their children. This does not mean that the children’s time with their parents will be split equally. Types of Custody in Texas Texas has three types of custody, … [Read more...]
Steps to Take Following a Boat Accident
Summer is here and families and friends are gathering on one of the many lakes and rivers in Denton County, Texas. Increased activity leads to a crowded water recreation area which can lead to accidents. At Springer & Lyle, we want to make sure you know what to do if you are involved in a boating accident. The Texas Parks and Recreation Department notes that Texas has: 1.7 million acres of freshwater lakes.4 million acres of Saltwater.80,000 miles of river.Approximately 590,000 recreational water vessels. Anyone born on or after September 1, 1993, must complete a Boater … [Read more...]
How Often Should I Review and Update My Will?
Everyone should draft a will, but once you have written your will, remember it is not carved in stone. When you are faced with life-changing events, you should review it to be sure it still reflects your wishes. Even if it seems that nothing has changed, you should still periodically review your will for the same reason: Does your will still do for you and your heirs what you want it to. Reviewing and Updating Your Will After Life Changes It is a good idea to review and update your will when you experience a major life change such as: The birth or adoption of a new child. You want … [Read more...]
