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Estate Planning › Life Estates

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Kaufman & Canoles

Court of Appeals of Virginia Determines Will Creates Determinable Life Estate with a Contingent Fee Simple Subject to a Condition...

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On Tuesday, in Brown v. Johnson, Record No. 0491-23-4 (Ct. App. Va. April 16, 2024), available here, the Court of Appeals of Virginia affirmed a decision from the Circuit Court of Fairfax County, holding that a will created a...more

Law School Toolbox

Bar Exam Toolbox Podcast Episode 251: Listen and Learn -- Present and Future Estates (Part 2)

Law School Toolbox on

Welcome back to the Bar Exam Toolbox podcast! Today, we're diving into the second part of our discussion on present estates and future interests. In the previous episode we reviewed the default property interest, the fee...more

Lippes Mathias LLP

Should I Create a Life Estate?

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What Is a Life Estate? Life estates are most commonly used with real estate and are created by the owner of the property. If you own your home, you are considered the life estate tenant. As the life estate tenant, you...more

Lasher Holzapfel Sperry & Ebberson PLLC

Remember the Remainderman: Rights and Responsibilities of a “Life Tenant” in Washington State

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In the State of Washington, a life estate is a legal arrangement where a person, known as the “life tenant,” has the right to use and occupy a property for the duration of his or her life. The life tenant has all the same...more

Chambliss, Bahner & Stophel, P.C.

What Is a Life Estate?

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When discussing estate and Medicaid planning, the phrase “life estate” is sometimes mentioned, but what does it mean? A life estate is a form of joint ownership that allows one person to remain in a house until his or her...more

Winstead PC

Court Holds That Trust Owned Mineral Interests And Not The Settlor’s Wife

Winstead PC on

In Moore v. Estate of Moore, a decedent’s wife claimed that she had an interest in an oil and gas lease formerly owned by her deceased husband. No. 07-20-00019-CV, 2021 Tex. App. LEXIS 6142 (Tex. App.—Amarillo July 30, 2021,...more

Holland & Knight LLP

How Can the Same Right Create 2 Separate Property Interests?

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The Internal Revenue Service (IRS) can file a lien and levy on any and all of a taxpayer's property (and rights to property) regardless of how the property is held or titled. 26 U.S.C. § 6321. Whether the item is a taxpayer's...more

Chambliss, Bahner & Stophel, P.C.

Protecting Your House from Medicaid Estate Recovery

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After a Medicaid recipient dies, the state must attempt to recoup from his or her estate whatever benefits it paid for the recipient's care. This is called "estate recovery." For most Medicaid recipients, their house is the...more

Rosenberg Martin Greenberg LLP

Demystifying Life Estate Deeds in Maryland

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In Maryland, you can make a beneficiary designation on your real property. This type of transaction is called a Life Estate Deed. It can be a very useful tool to avoid probate while also preserving tax benefits. There are two...more

Winstead PC

Court Holds That A Will Left A Partial Intestacy

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In Sullivan v. Hatchett, a husband executed a will giving his wife a life estate in his property. No. 07-17-00296-CV, 2019 Tex. App. LEXIS 980 (Tex. App.—Amarillo February 11, 2019, no pet. history)....more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – “Do I Need a Will?”

Farrell Fritz, P.C. on

A Last Will and Testament directs your Executor how and to whom your assets are to be disposed. If you do not have a Will, assets in your name when you die will pass under New York State’s intestacy laws. However, only the...more

Winstead PC

Texas Supreme Court Holds That Testator Devised Property As A Life Estate

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In Knopf v. Gray, the will disposed of the testator’s entire estate, specifically including a tract of land. No. 17-0262, 2018 Tex. LEXIS 249 (Tex. March 23, 2018)....more

Winstead PC

Court Holds That A Wife Devised Her Property In Fee Simple Determinable To Her Husband With An Executory Interest To Her Son; So,...

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In In re Estate of Hernandez, the issue in the case was whether clauses in a will conveyed a life estate to the decedent’s husband. No. 05-16-01350-CV, 2018 Tex. App. LEXIS 755 (Tex. App.—Dallas January 24, 2018, no pet....more

Bowditch & Dewey

Massachusetts Supreme Judicial Court Ruled Irrevocable Income-Only Trusts a Viable Tool in Long-term Care Planning

Bowditch & Dewey on

In Mary E. Daley v. Secretary of the Executive Office of Health and Human Services and Lionel C. Nadeau v. Director of the Office of Medicaid, which were consolidated in an appeal to the Massachusetts Supreme Judicial Court,...more

Chambliss, Bahner & Stophel, P.C.

Are You Considering Remarrying in Your Senior Years?

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Finding love later in life may be unexpected and exciting. The considerations are much different for an older couple with adult children and retirement plans than for a young couple just starting out. Before deciding on next...more

Chambliss, Bahner & Stophel, P.C.

What Are the House Ownership Options When Parents and Adult Children Live Together?

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Increasingly, several generations of American families are living together. According to a Pew Research Center analysis of U.S. Census data, more than 50 million Americans, or almost 17 percent of the population, live in...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - February/March 2013: Estate Planning Pitfall - Transferring home ownership to your children

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Many people mistakenly believe they can transfer their home to their children while retaining the right to continue living in it for the rest of their life, and remove a substantial portion of the home’s value from their...more

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