Dallas Probate Attorney: What are “Nonprobate Assets”?

Nonprobate assets are interests that pass at death other than by will or by intestacy. Nonprobate assets typically fall into one of four categories: 1) property passing by contract; 2) property passing by right of survivorship; 3) property held in trust; and 4) pay on death arrangements.                 Property passing by contract generally include life […]

DALLAS PROBATE ATTORNEY: WHAT IS A LIVING TRUST?

A living trust is a commonly used estate-planning tool that transfers real and personal property in to a trust while the grantor is living in order to avoid probate, reduce estate taxes and manage property. Living trusts are created by a document called a Trust Agreement, which sets forth who the trustee and beneficiaries are […]