Austin Probate Lawyer

Michael Jackson’s estate may be massive, but it is also facing a possible $400 million debt and heavy estate taxes before debts are taken into account. This could leave very little of the estate after settlements  are made.

In addition, the settling of the estate could take years as in the case of Jimi Hendrix. His estate was not settled for 35 years after his death. In order to avoid situations like these, it is incredibly important to have your affairs in order before you go.

If you need help with wills or probate, contact the Austin probate attorneys of Slater Kennon & Jameson, LLP at 512-338-1100.

In a recent probate case, a woman left her entire estate to her son in her last will and testament. Her daughter then challenged the will, claiming that she had some right to the estate. This led to months of preparation and a short trial.

Several witnesses, including the attorney who helped the woman draft her will, testified to the accuracy of the document. In the end, the court ruled that the son would receive the entirety of the estate just as the will dictated.

If you need probate help, contact the Austin probate attorneys of Slater, Kennon & Jameson, LLP at 512-338-1100.

Many small business owners are facing devaluation of their companies in the economic downturn. However, this could be a good thing for the future. If you expect your company to recover, you can perform an estate freeze to keep a portion of your estate from being taxed when you pass on.

In an estate freeze, the current value of your company is frozen. In doing this, future growth of the company can be put into a trust or can go to your children.  With the proper structure, you can still maintain control of your business.

If you would like to know more about estate freezes, contact the Austin probate attorneys of Slater Kennon & Jameson, LLP at 512-338-1100.

Having a will is incredibly important at any stage of life. In addition to having it, however, that will should be easy to find. If you leave a will that is never found, the state will not be able to recognize it and it will not be followed.

For this reason, it is important to have someone who knows that you have a will and knows where to find it. The simplest way to do this is to have your attorney help you draft the will and keep a copy of it. This way, your attorney will have your latest rendition of your will and will know exactly where it is, avoiding a slew of problems.

If you need help drafting a will, contact the Austin estate planning attorneys of Slater Kennon & Jameson, LLP at 512-338-1100.

In Bronx, New York, court officials have been charged with illegally investing money from dead people’s estates three years ago. The public administrator’s office of the Bronx Surrogate’s Court used 30% of the cash it was holding for heirs into risky securities.

Guidelines on the subject state that these funds should be placed in either FDIC insured bank accounts or  low risk US Treasury certificates. Because they were not, taxpayers had to shoulder the burden of repaying the wronged heirs.

The money being handled in this situation was from estates without wills. If you would like help with your will, contact the Austin probate attorneys of Slater Kennon & Jameson, LLP at 512-338-1100.