Texas Family Business Inheritance Lawyer: Texas Family Business Inheritance Can Often Be Lost Through Improper Estate Planning and The Probate Process by Texas Family Business Inheritance Lawyer Jason S. Coomer

Texas Family Business Inheritance Lawyer and Texas Real Estate Inheritance Lawyer: Texas Family Business Inheritance and Texas Real Property Inheritance Can Often Be Lost Through Improper Estate Planning, Lack of Communication, Lack of Resources, and Failure To Understand The Texas Probate Legal System by Texas Family Business Inheritance Lawyer Jason S. Coomer

Some Texas families have been able to build successful businesses, obtain large real estate holdings including mineral interests, and accumulate significant wealth.  However, many of these wealthy Texas families will lose this wealth through inaction, failure to communicate essential business information, and failure to understand Texas probate and inheritance issues.  

As a Texas Family Business Inheritance Lawyer and Texas Real Estate Inheritance Lawyer, Jason Coomer works with family members throughout the World to protect, claim, and transfer wealth including family businesses, family farms, and family mineral interests.  For questions regarding Texas probate and inheritance law, protecting family businesses or property through probate, claiming family wealth, and clearing title to real estate after a death, please feel free to send an e-mail message to Texas Family Business Inheritance Lawyer Jason S. Coomer or use our contact form to submit an inquiry regarding a Texas Real Estate Inheritance or Texas Family Business Inheritance Matter. 

Many Situations Can Cause Texas Inherited Real Property and Texas Family Business Inheritance To Become Trapped After The Death of a Family Member: Failure To Clear Title To Texas Inherited Real Property and Texas Family Businesses Can Result In The Loss Of Family Wealth

 

After a family member dies, their real property or business can become stuck in the inheritance process and if proper action is not taken it can be lost to foreclosure, taxes, competitors, non-family members, or the State of Texas .  These situations are especially common when the person dies without a Will, leaves no instructions as to what they want done with their possessions after they die, and/or has no accurate inventory or accounting of their wealth.  In these situations, Texas real property and Texas businesses will need to be transferred under Texas intestate law.  As such, it is important to understand what Texas intestate law says on how the estate should be divided and how title to the real estate and ownership of the business can be transferred.

In addition to the issue of intestate succession, there are also a number of other common situations that can cause inherited real property and businesses to become stuck.  The first situation occurs when the family is unable to move forward with the probate process because of lack of resources.  The second situation occurs when the family is unable to move forward with probate because of proximity issues.  In other words, the heirs do not live in Texas or close to where their loved one died.  In a third situation, family members can start fighting over their loved one's estate.  In a forth situation, there is not sufficient information to know the amount of or location of wealth that needs to be transferred.  In other words, the family member that died or become incompetent did not do sufficient estate planning or communicate with their family members regarding their wealth.   In all these situations, Texas real estate and businesses can become stuck for years or can even be lost.

 

Clearing Title To and Transferring Texas Real Property and Texas Businesses Through Probate Usually Requires The Services of One or More Texas Family Business Inheritance Lawyers

Depending on the reason that caused Texas inherited property or a family business to become stuck in the probate process, the solution may be hiring a Texas family business inheritance lawyer or a Texas real estate inheritance lawyer.  In the situation where the surviving family cannot afford the probate process, a Texas real estate inheritance lawyer or Texas family business inheritance lawyer can sometimes work out a contingent contract or a hybrid contract where the lawyer will work to clear title to the Texas real property or family business so it can be sold or mortgaged allowing the heirs, beneficiaries, court costs, attorney's fees, and other expenses to be paid out of the sales proceeds of the real property or business.  In these situations, families can often prevent losing inherited wealth through foreclosure or taxes.

 

In the situation where the family lives outside of the State of Texas, a Texas real estate inheritance attorney can often be appointed the local agent for the administrator or executive and help with many of the tasks that need to be handled in administering the estate.  This can greatly limit the need for the family to make numerous trips to Texas or the county where their loved one died and allow a busy family member to handle probate issues without a significant drain on their time.

 

In situations where the heirs and beneficiaries start fighting, it is often necessary for multiple Texas real estate inheritance lawyers to become involved.  In these situations, it is typically best for each side to have their own legal counsel to advise them as to their rights under Texas law and if necessary to have legal counsel that can advocate for their rights.  These contested probate lawsuits can be expensive, but can be necessary when someone is attempting to steal family inheritance or the family needs experienced legal help to settle a disputed probate matter and prevent the loss of inherited real estate in Texas. 

 

Texas Family Business Inheritance Lawyer and Texas Real Estate Inheritance Lawyer

 

For more information regarding Texas probate and inheritance law, claiming family wealth, and clearing title to real estate after the death of a family member, please feel free to send an e-mail message to Texas Family Business Inheritance Lawyer Jason S. Coomer or use our contact form to submit an inquiry regarding a Texas Real Estate Inheritance or Texas Family Business Inheritance Matter.