Texas Mineral Interest Transfers and Other Texas Inherited Real Property Often Require An Ancillary Probate by Texas Mineral Interest Lawyer

Texas Mineral Interest Transfers and Other Texas Inherited Real Property Transfers Often Require An Ancillary Probate in Texas to Transfer Title by Texas Mineral Interest Lawyer and Texas Inheritance Lawyer Jason Coomer

Many wealth families have decided to purchase Texas real property including Texas mineral interests, Texas lake houses, Texas condos, Texas ranches, and Texas beach houses.  These investments on the whole have been very lucrative over the past 20 to 40 years.  That being said, when the owner of Texas real property passes away, their Texas real property transfers into their estate.  This transfer can become an issue when the owner does not reside in Texas.

Texas mineral interests and other Texas real property often require an ancillary Probate to be transferred out of a non-Texas estate.  As such, lawyers and families throughout the United States and the World commonly have to hire a Texas lawyer to help transfer Texas wealth out of an out of state estate.  For information on transferring Texas mineral interests and working with a Texas lawyer to transfer inherited Texas wealth, please go to the following web pages:

• Texas Mineral Interest Transfer Lawyer and Texas Anciallary Probate Information,  
• Texas Oil Royalty Inheritance Information, 
• Texas Family Inheritance Information, 
• Texas Family Vacation Home Inheritance Information, and 
• Working with Out of State Beneficiaries, Heirs, Families, and Lawyers on Texas Probate Cases 

Texas Lost Wealth Information: Seeking an Investment, Savings, and Wealth from Financial Professionals by Texas Lost Wealth Lawyer

Texas Lost Wealth Information: Seeking Back an Investment, Savings, and Wealth from Financial Advisors, Investment Brokers, Wealth Managers and other Financial Professionals by Texas Lost Wealth Lawyer Jason S. Coomer

It is a common occurrence, a family decides that they want to invest or protect their wealth and seeks assistance from a financial professional.  As such, they go to a financial advisor, wealth manager, investment broker, or other financial professional for advice and to invest their wealth.  After receiving several statements regarding their investments, they notice that a significant amount of wealth is missing or even worse their investment is gone.  In other situations, the family is no longer to obtain information regarding the account because the wealth is transferred to a new financial professional, new security protocols are put in place by the financial institute, or the family member who invested the money has passed away.  In many of these situations, the bank, financial advisor, broker, wealth manager, or other financial professional starts acting like it is their wealth and not the wealth of your family.

What do to When Wealth is Taken by a Financial Professional?

The first step in reclaiming wealth is to gather proof of what wealth existed in the past, what wealth should currently exist, and who owned the wealth.  The best evidence to prove the existence and ownership of wealth are typically copies of past account statements or inventories.  These account statements or inventories can be hard copy or sometimes can be obtained electronically.  Though commonly difficult to read, these account statements are usually a great starting point to prove the existence of wealth.  Communications with and any contracts with financial professionals as well as transfer documents are also important and can be useful. 

The second step is to make copies of these documents.  The copy will be a working copy that can be highlighted and written on to identify important information and proof.  Overall, the goal is to keep the original documents clean from highlighting and writing as they may be needed for future litigation.  Further, it is extremely important not to send original documents to anyone else while seeking back your wealth.  A common trap is for companies is to request documents to prove ownership and then when the original documents are sent the original documents are lost and the person seeking wealth no longer has proof of ownership or existence.

The third step is to determine what wealth was taken.  Sometimes it is clear what wealth has been taken such as two statements that show 10,000 shares of stock are missing from a transfer and from the statements a specific date, time, and amount of lost wealth can be determined.  At other times it is not always clear how much wealth has been taken.  It is typically best to make two categories of missing wealth including 1) the wealth that can be shown was clearly taken and value that can be easily determined and 2) the wealth that might have been taken or may be difficult to determine value.  For the each category, it is best to tally the amounts. 

The fourth step is to contact the bank, financial advisor, wealth manager, or investment broker for an explanation as to the status of the wealth.  It is often best to make sure that there is a record of all communications that are made.  For telephone communications, it can be helpful to write down the date, telephone number, and full name of the person that was involved.  It is often also beneficial to obtain an e-mail address, fax number, and address for follow up communications.

The fifth step is to obtain an explanation from the financial professional.  A written explanation is best as you have a record as to what happened to the wealth. If the financial professional will not provide a written explanation, it can be helpful to send a follow up written communication that on X date X advised that this is what happened to my missing wealth. 

The sixth step is to determine if the explanation is reasonable or if a formal demand and potentially litigation is necessary.

Texas Investment Fraud Lawyer and Texas Wealth Management Fraud Lawyer

Sometimes there is a simple explanation for missing wealth, however, at other times wealth is taken by financial professionals and financial institutes when they believe that they can get away with the theft.  If you believe you or your family has lost significant wealth through investment fraud, financial professional fraud, negligence, or breach of fiduciary duty, it is important to gather and review your financial records to determine what has happened to your family's wealth.  If you are unable to obtain a satisfactory explanation, it may be time to contact a lawyer to explore potential litigation to reclaim your family's wealth.  For more information on Texas Investment Fraud Lawsuits and Texas Financial Professional Fraud Claims, please go to the following web pages: Texas Wealth Manager Fraud Lawyer, Texas Investment Fraud Lawyer, and Texas Elder Financial Fraud Lawyer.

 

Texas Inheritance Law Information For Families Unfamiliar With Texas Probate Law by Central Texas Inheritance Lawyer

Texas Inheritance Law Information For Families Unfamiliar With Texas Probate Law by Central Texas Inheritance Lawyer Jason Coomer

Texas Inheritance Law for families unfamiliar with probate can be extremely difficult.  Not only have they lost a loved one, but they also often have to navigate Texas courts, financial records, insurance companies, deed records, and banks.  Further, some have to deal with upset and sometimes aggressive family members as well as other greedy people who are attempting to claim wealth from the deceased loved one.  Understanding the basics of Texas Inheritance Law and when it is time to call a lawyer can be extremely helpful in navigating this difficult time.  Below are a few basic concepts and answers to basic questions that can helpful.

Common Texas Will and Probate Questions

What is a Will and is it necessary?

A Will is a document which states the intentions and wishes of a person to take place after their death including what happens to and who gets their wealth.  A Will is not necessary under Texas law, but if you do not have a Will and you die, your wealth is distributed according to Texas law and this can sometimes result in increased legal costs to determine heirs and unintended estranged heirs or laughing heirs receiving large amounts of inheritance.  If you have significant wealth, want specific loved ones to receive it, and want your loved ones to have fewer legal expenses after you pass; it is best to have a Will.

Should I write a Will myself or use a "do it yourself" Will kit? 

The complexity of a Will can very greatly from a short hand written Will called a "Holographic Will" to a several page complex Will that creates testamentary trusts and has several contingencies.  Overall, if you have significant wealth, it is often best to contact an estate planning attorney to answer questions, draft the Will, and explain specific options and potential traps.  In handling probate cases, I have run into several "do it yourself" Wills and Holographic Wills that have caused 1) significant controversies in families resulting in legal battles, 2) unintended consequences caused by transfers to minors, wards, or persons on social security disability, and 3) complete legal messes and trapped wealth requiring several attorneys and court appointed ad litems to resolve.  In short, be careful if you have significant wealth and decide to do it yourself.  Saving money in the present can cost significant amounts to your loved ones in the future.  

Does a Will need to be filed? 

No, if the person who passed has little to no wealth or all their wealth has passed through a Trust, non-probate assets, or other means, there may not be a reason to probate a Will.  However, if a person has a valid Will and wealth in their estate including real property their Will should typically be filed for probate.

Does a Reading of the Will need to take place?  

No, this is a Hollywood myth.  Normally, there is no reading of a Will.  The Will be filed for Probate and all beneficiaries in the Will should receive a copy of the Will pursuant to Texas law.  An unnecessary reading of a Will can result in some extremely difficult and awkward situation.  That being said, many family members review Wills together and can cooperate in agreeing how to handle the probate process.  

What is an Executor? 

An executor or executrix is a person who is named in a Will to manage the deceased's estate, fulfill the deceased's wishes, and follow Texas legal requirements regarding legal notices and inventories.  An executor or executrix will not be appointed until a Will is probated and letters of testamentary are issued.  In other words, a person named as executor has no power or authority until a Will is probated and they are appointed.

An executor or executrix should be a responsible person that you trust.  They do not have to be a resident of Texas, but they have to be a competent person over the age of 18 years of good character who is not a convicted felon.

Most people who are named as an executor or executrix hire a lawyer to represent them in Probate court and to ensure that they comply with legal duties.  The person who serves as executor or executrix can be removed or sued for breach of fiduciary duty if they to not follow the Will or Texas law.  The estate will typically pay the executor's or executrix's attorney's fees and costs.

Contested v. Uncontested Probate 

There are two type of probate lawsuits contested and uncontested.  Uncontested probate lawsuits include Will probate lawsuits and Suits to Determine Heirships where there is no dispute between the heirs or beneficiaries regarding who gets what and the value and validity of estate assets or estate debts.  It is typically best to have a Texas probate lawyer, if you are filing an uncontested probate lawsuit.  Contested lawsuits include Texas Will Contests, Texas Breach of Fiduciary Duty Lawsuits, Texas Real Estate Partition Lawsuits, Texas Financial Elder Abuse Lawsuits, and Texas Inherited Business Lawsuits.  A Texas probate lawyer is almost always needed and highly recommended, if you are in a contested probate lawsuit.

Contingent, Hourly, and Hybrid Attorney Contracts

Most Texas probate lawyers work on hourly contracts where the family of a deceased has to pay the lawyer a retainer and then the lawyer bills against the retainer until it is depleted, then additional money will need to be paid if additional work needs to be done.

However, in some situations family assets cannot get transferred or collected by their rightful heirs or beneficiaries because the heirs and beneficiaries cannot afford the upfront cost of probate and other transfer costs. In these situations, a Texas Contingent Probate Lawyer who works on a contingent or hybrid contract is needed to help heirs and beneficiaries transfer estate property to rightful heirs and beneficiaries.  In these situations, the Texas Contingent Probate Lawyer will typically need to see evidence that there are actual significant assets in the estate and confirm that the potential clients are the rightful heirs and beneficiaries of the estate. In these cases, bank statements, life insurance policies, royalty statements, mutual fund statements, retirement fund statements, real property deeds, property tax information, and other evidence of the estate assets can be useful in determining the approximate value of the estate and if a contingent contract for probating the estate can be viable.  For more information on Texas Contingent and Hybrid Probate Lawsuits, please feel free to go to the following web page:  Texas Contingent Probate Lawyer and Texas Death Benefit Collection Lawyer.

Valsartan Cancer Health Risk: Persons Taking Valsartan Should Be Aware of Several FDA Recalls on Tainted Valsartan Medications that May Cause Cancer by Texas Valsartan Cancer Lawyer

Valsartan Cancer Health Risk: Persons Taking The Generic High Blood Pressure Medication Valsartan Should Be Aware of Several FDA Recalls on Tainted Valsartan Medications that May Cause Cancer and Other Health Issues by Texas Valsartan Cancer Lawyer Jason S. Coomer 

The drug high blood pressure medication, Valsartan, has been under a recall worldwide because it was tainted with a known carcinogen, N-nitrosodimethylamine (NDMA).  Persons who have been taking Valsartan since 2012 should be aware of the recall and consult their pharmacist, physician, and/or the FDA if they have any questions regarding the recall or if they think they have a tainted drug.  Additional information regarding this recall is also listed below on this web page.  Further, if you or a loved one has been taking Valsartan and have have been diagnosed with cancer, liver damage, or tumors, you should contact your health care provide to discuss the potential cause of your health issues as well as report the adverse action to the prescribing medical doctor and FDA as soon as possible.  For more information on the recalls, please go to the following web page: Valsartan Cancer Health Risk Information.