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It is important to understand the difference between "Probate Assets" and "Nonprobate Assets." Examples of nonprobate assets include death benefits payable to someone other than a decedent's estate of life insurance proceeds, IRA or Retirement Plan death benefits, survivorship benefits property or under an account styled as "joint tenants with right of survivorship." Property placed in a trust during lifetime is likewise nonpropbate property. The important thing to remember is that nonprobate property does not pass under a Will. Don't forget to look at the Probate page.

 

2011 – Drafting Where the Only Thing Certain is Change and Litigation

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This article was prepared for the 2011 State Bar of Texas Professional Development Program "Advanced Drafting for Estate Planning and Probate." It contains a number of specimen Will and Trust clauses, with comments to them, designed to minimized abusive litigation.

2008 - Nutshell Executor Fees Commissions

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I note that the law has recently changed, which requires an update to this Memo, which update will be completed shortly. In the meantime, it should still be useful.

2007 - Guide to the Personal Representative (PR) (or executor) on Paying Debts, Expenses & Taxes Existing at Death and During the Period of Administration

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2006 - Est Tax Apportion Prob. Code Sec. 322A

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Your Will gives different property to A, B and C. D gets a $1 million pecuniary (cash) legacy, which can be satisfied in cash of in kind. The remainder of your estate goes to E. The estate tax is $2 million. Who pays it, A, B, C, D or E? Some of them? All of them? In what proportions?

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These materials are not meant to and may not be relied upon, but are published for discussion purposes only.  Rule 7.04(b) disclosures.

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