Government Benefit Inheritance Trap

Many families lose significant wealth to inheritance traps. The government benefit inheritance trap causes many families to lose wealth. This trap springs when someone dies and improperly leaves wealth to someone on government benefits. More specifically, a family member gives significant wealth directly to a person on needs based governmental benefits and this inheritance causes the benefits to stop.

Government Benefit Inheritance Trap

    Government Benefit Inheritance Trap

How is Wealth Lost Through The Government Benefit Inheritance Trap?

Families lose wealth through the Government Benefit Inheritance Trap by inadvertently shutting off benefits. More specifically, someone in the family fails to do proper estate planning and a substantial amount of wealth is given to someone on benefits. If the inheritance is significant enough, it knocks the person off government benefits.

In some situations, a large inheritance helps the beneficiary. The inheritance provides enough wealth that the family member can get off benefits. Further, the person is no longer dependent on government benefits to live.

However, in many situations the inheritance only knocks the person off benefits temporarily. The inheritance lasts only for a year or two as benefits have stopped. Further, the loss of benefits causes the inheritance to be used in place of the benefits. In other words, the inheritance provides little to no benefit to a family member and costs the family significant wealth.

How to Avoid This Inheritance Trap

Families can avoid the government benefit inheritance trap by not giving wealth directly to a person on government benefits. More specifically, families can protect wealth and benefit less fortunate family members with estate planning. A special needs trust helps the person without knocking them off government benefits.

Families can also avoid this trap by not giving inheritance to people on benefits. Further, they can direct their wealth to other family members. They can also request that they help those on benefits.

This option also helps avoid forced sales of inherited real property. More specifically, a person knocked off benefits typically needs liquid assets to survive. As such, they often sell inherited real property to survive. Further, if the person inherits only a part of a house, all beneficiaries must sell the house. Additionally, if this person has capacity issues, the forced sale could require a Guardianship .

More Information on Inheritance Traps

For more information on Texas Inheritance Law and Inheritance Traps, please read this Blog or go to the following webpages: Texas Family Inheritance and Wealth Lawyer and Texas Inheritance Real Estate Lawyer.

Texas Elder Guardianship Lawsuits

As people get older, they commonly lose capacity and strength. Sometimes when this happens, Texas Elder Guardianship Lawsuits become necessary or are filed. More specifically, family, friends, and proposed wards litigate capacity, financial control, and living arrangement issues. Further, these lawsuits involve personal issues such as personal freedom, protection of loved ones, and protection of family wealth.

Texas Elder Guardianship Lawsuits

    Texas Elder Guardianship Lawsuits

Texas Guardianship Applications Protect People Who Are a Danger to Themself or others

Sometimes an individual loses their ability to take care of themself or their finances. In these situations, family and friends sometimes have to step in to help protect the person. More specifically, families determine that a person is a danger to themself or others and needs to have protections put in place.

In these situations a physician needs to evaluate the person to determine their capacity. If the physician determines the person lacks capacity, a court can make the person a ward and appoint a guardian for the person. The guardian can be the guardian of the person and or guardian of the person’s estate. In other words, the guardian becomes responsible for the person’s health decisions and or their finances and wealth.

Texas Guardianship Contest Lawsuits and Texas Contested Guardianship Lawsuits

In other situations, family members sometimes decide that an elderly person should not control their wealth. In these situations, contests to the guardianship can occur. These contests can include a contest as to if a guardianship is needed. The contests can also include contests as to who the guardian will be. The parties can also contest the extent of the limitations in the guardianship.

More Information on Texas Elder Guardianship Lawsuits

For more information of Texas Elder Guardianship Lawsuits including guardianship applications and guardianship contests, please go to the following webpages: Texas Contested Guardianship Lawsuit Information,Texas Guardianship Application Information, and Texas Inheritance Lawsuit Information.

 

Inheritance Traps: Non-Probate Assets

Many families lose a significant amount of wealth through inheritance traps. The lack of any estate planning is a common trap that causes many families to lose substantial wealth. However, the use of basic estate planning can save families significant wealth. More specifically, using non-probate assets can help families protect wealth.

Non-Probate-Assets
Non-Probate Assets Help Avoid Inheritance Traps

What Are Non-Probate Assets?

Non-Probate Assets are assets that can be transferred without going through probate. Common examples of non-probate assets include bank accounts, retirement accounts, investment accounts and life insurance with designated beneficiaries. Accounts with rights of survivorship and life insurance with beneficiaries also transfer wealth outside of probate and are non-probate assets.

The Advantage of Non-Probate Assets

The advantage of non-probate assets are that they transfer wealth from person to person without going through probate court. For this reason, non-probate assets help individuals with small estates avoid the cost of probate. This technique saves families significant wealth.

Avoiding Inheritance Traps Through Non-Probate Assets Can Save Wealth in Small Estates

Many individuals fail to designate beneficiaries on their bank, retirement, and investment accounts. This failure causes the assets in these accounts to go into their estate upon death. Once in the estate, the asset requires probate to transfer the wealth back out of the estate.

Unfortunately, probating an estate often becomes non viable when accounts are small and the only asset in an estate. Further, when accounts are under $5,000.00 and/or there are other debts on the estate, the wealth often becomes trapped.  Many heirs and beneficiaries discover after the loss of a loved one that small accounts are trapped.

Avoid This Inheritance Trap By Inventorying Accounts and Updating Beneficiaries

Families can save significant wealth and avoid inheritance traps by using non-probate assets. More specifically, individuals should update their designated beneficiary and right of survivorship on all accounts.  Further, individuals should also keep an inventory of or communicate the existence of these accounts to the beneficiaries.

More Information on Texas Probate Law

For more information on Inheritance Traps and Texas Inheritance Law, please go to the following webpages Texas Family Inheritance Lawyer Information,  Videos on Inheritance Traps, and Central Texas Real Property Probate Lawyer.

Texas Executor Removal Lawsuits

Once appointed by a Texas court, a Texas Executor gains significant power to administer an estate and transfer wealth. Further, this power is especially vast when the Texas Executor is independent. An Independent Executor performs many acts with little to no court supervision. This vast power is useful and can greatly reduce the cost of probate. That being said, some Executors abuse their vast power to the detriment of estate beneficiaries. When this occurs, estate beneficiaries often file Texas Executor Removal Lawsuits.

Texas Executor Removal Lawsuits
Texas Executor Removal Lawsuits

When Can Texas Estate Beneficiaries Remove a Texas Executor Through Texas Executor Removal Lawsuits?

Estate Beneficiaries can remove a Texas Executor through a court in several situations. Successful Executor Removal Lawsuits require evidence of Executor failures, neglect, or other bad acts. More specifically, Beneficiaries can remove an Executor without notice in six different situations. These situations include proving an Executor 1) neglected to qualify; 2) failed to timely file an inventory; 3) failed to give bond; 4) was absent from the state without court permission; 5) eluded or was unavailable for service; or 6) illegally embezzled, misapplied, or removed estate property.

Further, Beneficiaries can remove an Executor with notice for several reasons.  These reasons include 1) illegally misapplying, embezzling, or removing estate property; 2) failing to return any account required by law; 3) failing to obey any order of the court; 4) being guilty of gross misconduct or mismanagement in the performance of their duties; 5) becoming incapacitated, imprisoned, or otherwise incapable of properly performing their duties; or 6) failing to make a final settlement by the third anniversary of the date of letters testamentary were granted.

What Can Texas Estate Beneficiaries do if they suspect a Texas Executor is Abusing Their Powers or Timely Refusing to Distribute an Estate?

Texas Estate Beneficiaries have several options to consider if they suspect a Texas Executor is abusing their powers. Depending on the specific circumstances of the situation, the beneficiaries may want to seek first seek an accounting. In the alternative, they may seek a partial or full distribution of the estate. They also may want to remove the Texas Executor with or without notice. Further, if the Texas Executor has breached their fiduciary duties, has stolen from the estate, or has committed fraud, the beneficiaries may also want to file suit against the Texas Executor and seek damages.

When Can Texas Beneficiaries Obtain An Estate Accounting from a Texas Executor?

Texas Estate Beneficiaries can request an estate accounting for a Texas Executor after the expiration of 15 months from the date that the court clerk first issued letters of testamentary. Further, a formal demand for an estate accounting is typically made by a lawyer for the estate beneficiaries under Texas Estate Code 404.001. The formal demand for an accounting is often an effective in pushing slow moving Texas Executors to perform their duties and move towards distributing an estate.

What Can Beneficiaries Do If They Suspect a Texas Executor is Committing Fraud?

If Texas Estate Beneficiaries suspect that a Texas Executor is committing fraud or breaching his or her fiduciary duties, it is usually best to speak with a Texas Executor Removal Lawyer or Texas Estate Beneficiary Lawyer. The lawyer can review the evidence of fraud or other wrongdoing and discuss options to help the beneficiaries protect their rights and inheritance.

More Information on Removing Texas Executors and Administrators

For more information on Texas Estate Beneficiary Rights, Removing Texas Executors, and Lawsuits Against Texas Executors, please go to the following web pages: Texas Executor Fraud Lawyer Information and Texas Probate Fraud Lawyer Information.

Austin Contested Probate Lawsuits

After the death of a loved one, families commonly need a probate litigation lawyer to protect family wealth.  More specifically, the lawyer helps rightful beneficiaries and heirs enforce the wishes of the deceased. In achieving these objectives, the lawyer often needs to file or defend Austin Contested Probate Lawsuits.

What Are Austin Contested Probate Lawsuits?

Contested probate lawsuits involve several different types of legal issues.  More specifically, these lawsuits typically litigate Will Contest, Fraud, Breach of Fiduciary Duty, and Estate Dispute Issues.

Austin Contested Probate Lawsuits

Austin Contested Probate Lawsuits – Fraud, Breach of Fiduciary Duty, Will Contests, and Estate Disputes

What Are Will Contest Issues?

Several issues start Austin Contested Probate Lawsuits. The most common issues include the validity of a Will and Will contest issues. These Will Contest issues litigate the below questions:

  1. Did someone forge the Will?
  2. Was a do it yourself Will defective or leave a lapse in inheritance?
  3. Did someone fraudulently trick the testator into making or executing the Will?
  4. Did someone unduly influence the testator into making the Will?
  5. Which Will was the testator’s last valid Will?
  6. Did the testator have testamentary capacity when the Will was executed?
  7. Did the testator ever revoke the Will?
  8. Was a Will filed within four years of the death of the decedent?

What Fraud and Breach of Fiduciary Duty Issues Cause Contested Probate Lawsuits?

Further, there are a variety of fraud and breach of fiduciary duties issues that cause contested probate lawsuits.  Many of these issues begin with Executor and Administrator Fraud or malfeasance.  Other issues include the fraud of third parties, heirs, or beneficiaries stealing from an estate.

What Estate Dispute Issues Cause Contested Probate Lawsuits?

Additionally, heirs, beneficiaries, and executors often litigate the value of a decedent’s estate and how the estate is divided. Though these issues seem straightforward, many issues arise while determining the value of estate property including what the decedent owned.  Heirs and beneficiaries commonly also litigate how to divide estate real property, businesses, and other inheritance.

Who Should Have An Austin Contested Probate Lawyer?

Anyone involved in a contested probate lawsuit should have a lawyer.  Further, anyone filing a contested probate lawsuit should hire a lawyer.  Additionally, if you anticipate a contested probate lawsuit, you should consult a lawyer. More specifically, heirs, beneficiaries, and named executors should have a lawyer to protect their interests.

More Information of Contested Probate Litigation

For more information on contested probate lawsuits, please go to the following webpages: Austin Probate Litigation Lawyer and Texas Inheritance and Real Estate Lawyer.

Texas Inherited Real Property

Texas inherited real property often causes families to lose significant wealth.  In these situations, inheritance and title issues trap inherited houses, family farms, or other real property.  More specifically, heir or beneficiaries cannot sell inherited real property because they cannot clear title.  This problem arises when a record owner of real property dies.  The deceased’s interest typically transfers into their estate.  Once the real property is in the estate, the heirs or beneficiaries must legally transfer the property out of the deceased’s estate.  In many situations, the heirs and beneficiaries will need to file a lawsuit will to clear title to the property.  At this time inheritance issues arise which trap the property.

Texas Inherited Real Estate

Trapped Texas Real Estate and Inheritance Issues

Several inheritance issues trap Texas real estate preventing a sale or transfer.  The most common causes of these issues are a lack of any estate planning and do it yourself Wills.  Unfortunately, both of these causes are permanent once a person has already died.  In other words, there are no take backs or do overs.

This lack of proper estate planning causes several inheritance issues.  One inheritance issue is that estranged family members inherit interests in real property.  Thus, the family after losing a loved one must find, communicate, and deal with estranged relatives.  A second inheritance issue occurs when a person on benefits inherits property.  This inheritance will commonly knock them off benefits and the inheritance will be used instead of the government benefits.  A third inheritance issues occurs when minors inherit real property.  Typically, minors are not able to contract including buying or selling property.

These inheritance issues typically surprise families and result in trapped real property.  The heirs or beneficiaries cannot sell, mortgage, or transfer the inherited property.

Trapped Texas Property is Commonly Lost Through Foreclosure

To add to the problem, the loss of the owner typically also reduces the ability of the family to pay taxes and upkeep.  For this reason, families commonly lose a significant amount of inherited property because the family cannot afford the property.  Further, the death of the owner will often alleviate the need for an inherited house.  Whether the deceased was living alone or surviving family need to move after a death, the family may not need the house.  Thus, many families inherit  a house they can’t use, afford, or sell.

More Information on Texas Inherited Real Estate and Clearing Title to Trapped Real Property

Many families will lose significant wealth because they are not aware of trapped real property issues until after a death.  Understanding the potential danger of trapped inherited property is the first step.  Understanding the potential inheritance issues that a death may cause is a second step.  Resolving these issues is a third step.

For families who are dealing with trapped inherited property, heirs and beneficiaries should  minimize loss.  A Texas Inheritance Lawyer can often help the family clear title and prevent loss.

For more information on this topic, please go to the following webpages: Texas Inheritance Law and Trapped Real Property and Texas Real Estate and Inheritance Lawyer.

Texas Family Wealth Protection Lawyer Helps Families Protect and Claim Inheritance

Many families will lose significant wealth by failing to protect their wealth through generational transfers. Texas Family Wealth Protection Lawyer helps families prevent this loss.  He also works with families after the loss of a loved one to claim and protect wealth.

Loss of Real Property and Loss of Investments are Common Types of Lost Family Wealth

Some families will lose significant wealth through inheritance issues and stuck real property.  Inheritance issues commonly create title issues which causes property to become stuck.  As a result of these title issues, the family cannot transfer or sell the property.  Typically, the stuck property will be lost as it cannot be sold, transferred, or mortgaged.  Thus, the surviving family commonly cannot afford to maintain the stuck property.

Still other families lose wealth by not keeping track of investments.  In these situations, a loved one dies or becomes incompetent without keeping track of an account or investment.  The family then loses track of the investment or account.  Not surprisingly the bank, oil companies, or other large corporation does not seek out heirs or beneficiaries.  In fact, in some situations the large company will not communicate with the family about the account or investment.  Families commonly lose mineral interests, stocks, and investment accounts in these situations.  Unfortunately, third parties are commonly very successful in stealing from dead people.

Communication and Basic Estate Planning Help Prevent Loss of Family Wealth

Basic estate planning and communication can help prevent loss of wealth.  However, please keep in mind there is no one size fits all strategy for preventing the loss of family wealth.  Each family’s battle to protect their wealth will be different.  Further, Wills, Trusts, non-Probate assets, and survivorship assets all have their unique issues.

Texas Family Wealth Protection Lawyer Provides Information on Protecting Family Wealth

This blog and website by Texas Family Wealth Protection Lawyer reviews issues regarding protecting and transferring wealth between generations.  Additional information can also be found at the following webpages: Texas Family Inheritance Lawyer and Texas Real Estate Probate Lawyer.

Button Battery Lawyer in Texas Handles Defective Product Lawsuits

Button Battery Lawyer in Texas Handles Defective Toy and Product Lawsuits

Texas button battery lawyer, Jason Coomer is a defective toys and products attorney. Many defective toys and products designed for infants and small children use button batteries. Infants and small children can remove and ingest these small batteries from defective products. Ingestion of button batteries can result in potential health risks. These defective toys and products can cause devastating life long injuries or death to infants and young children. Parents that carefully select toys and products can avoid injury or death to their infants and small children. Button battery ingestion by an infant or small child that has resulted in injury or death requires appropriate action. Other infants and small children can avoid injury or death if parents report these dangerous products. Therefore, the makers and distributors of these defective products should be notified through a Texas button battery lawyer.

Has a button battery from a defective product caused you to lose a child or caused injuries to your child? A Texas button battery lawyer may be able to help you recover your damages. Moreover, the law could entitle you to compensation. Feel free to submit an inquiry or send an e-mail message to Texas defective product button battery lawyer, Jason Coomer.

Button Battery Lawyer in Texas: Top and bottom of a small button battery.

Product Liability Lawsuits Filed by Texas Button Battery Lawyers Can Help Protect Infants and Small Children From Defective Products

Defective button battery toys, Christmas ornaments, flash lights, and other child products can cause injuries or death. Button battery use in many types of products has increased. As a result, infants and small children have an increased risk of swallowing a battery. Lithium button batteries are small but they contain a powerful dose of toxic materials. These toxic materials can cause substantial life long injuries or even death. Some of the toys have battery compartments that are easily accessible to small children. Children under five years of age have an especially concerning and problematic risk.

In these situations, a child can take the batteries out of the toy or other device, then swallow the battery. Once swallowed or ingested, button batteries can create corrosive chemicals when combined with a child’s internal tissues. This can result in the child suffering serious injuries or even fatal injuries. Consequently, manufacturers of defective button battery products have had recent lawsuits filed against them. Most noteworthy, are instances where manufactures have negligently created serious hazards for infants and young children. Furthermore, a Texas button battery lawyer can help protect other children from defective products by filing a defective product lawsuit.

Product Liability Lawsuits (Defective Toys, Cribs, Bassinets, and Child Car Seats)

Product liability lawsuits have helped protect other infants and small children from defective products. So, defective toys, cribs, bassinets, flammable pajamas, and car seats have been the subject of past litigation. These lawsuits have resulted in recalls of cribs and bassinets sold from 1995 to 2005. The manufacturers produced different types of problematic hardware used on some cribs. Furthermore, the hardware included safety pegs for one type of cribs and spring pegs for another. As a result, either can create a hazard if not properly installed. Consequently, the drop side of the cribs can fall and disengage, creating a gap that can entrap and suffocate infants.

Lead-tainted toys and children’s products can also create hazards for small children. As such, there have been several recalls of toys and children’s products that contain lead-levels in excess of allowable amounts. Some of these lead-tainted items range from toys to products children put directly in their mouths, such as baby pacifiers.

The Consumer Product Safety Commission’s website lists potentially dangerous or recalled products. A recent recall includes toys which contain magnets in small flexible parts of the product sets that can detach. Furthermore, young children can find the magnets then swallow or aspirate the hazardous parts. Multiple magnets can cause intestinal perforations or blockages. As a result, serious or fatal injuries can occur.

It is important to check the U.S. Consumer Product Safety Commission website. Above all, make sure that the products that you are buying are safe and have no known safety defects.

Product Liability Claims (Defective Food Products)

Defective imports from China have recently been in the news. The FDA found contaminants in vegetable proteins imported into the United States from China. These dangerous chemicals had tainted some human and pet food. Imports have become more common in recent years. As a result, safety regulations of foreign products have become an increasing concern. Most noteworthy, are the concerns with food products and toys for infants and young children.

Studies revealed that babies fed formula made from powder tainted with a toxic chemical called Melamine had developed kidney stones. Melamine levels were dangerously high in Chinese milk products. Reports from official news agencies stated that at least four babies have died. Furthermore, at least 53,000 other children have fallen ill. Melamine added illegally to watered-down milk raised its apparent protein count. The tainted food products included milk products, like yogurt and cookies. In response to these dangerous products, there were product recalls and export bans around the world.

Also, Melamine had tainted chicken eggs. Because, the protein count of chicken feed was falsified by using the toxic chemical. In Hong Kong, government officials reported finding another batch of eggs from mainland China that had high levels of melamine. The announcement followed reports of two other tainted batches of eggs.

It is important to check the U.S. Consumer Product Safety Commission website. Above all, make sure that the products that you are buying are safe and have no known safety defects.

Defective Button Battery Lawyer in Texas (Product Liability Lawyers)

Texas button battery lawyer, Jason Coomer, represents families that have suffered the loss or significant injury of a loved one. Take action if you are aware of a child that has suffered injuries from swallowing a button battery. Jason Coomer commonly works with other defective button battery lawyers and other product liability lawyers throughout the United States. If you have a question about a product liability claim and need a button battery lawyer in Texas, contact Texas button battery lawyer Jason Coomer. He is a product liability lawyer in Texas.

More product liability information here.

Hello! This Is The Law Offices of Jason S. Coomer Blog

The Law Offices of Jason S. Coomer, PLLC is an Austin Texas law firm that provides a variety of legal services to Texans and Texas Businesses throughout the State of Texas as well as persons and businesses throughout the world. Austin Texas Lawyer Jason Coomer is an experienced attorney who provides personalized legal services for his clients and prides himself on working hard for those that need help with a complicated legal system. Feel free to send an e-mail message to Jason S. Coomer with questions about this web site, a legal matter, or a potential case.

Austin Texas Lawyer Jason S. Coomer is an experienced litigation attorney that handles probate litigation; foreign corrupt practices act whistleblower reward bounty actions; accident death lawsuits; catastrophic injury lawsuits; uncontested probate matters, real estate and inheritance matters; guardianships; will contests; real estate fraud and misrepresentation; defective builder lawsuits; qui tam false claims act claim whistleblower reward lawsuits; product liability and pharmaceutical lawsuits; residential fire, explosion, and burn lawsuits; business litigation; investment fraud cases, and other complex litigation cases.

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