The Dangerous Misconception: "I’m on the Mortgage, So I Own the House" One of the most common—and devastating—misconceptions in real estate and estate planning is the belief that being on the mortgage grants you ownership rights. If you are in a relationship or married, and both of you are on the mortgage but only one of you is on the deed, you are walking a legal tightrope. According to real estate law, ownership is determined strictly by what the deed says, not who is on t

If you are planning your estate, you might be asking a common question: "If I already have a trust, do I still need a Lady Bird Deed?" The short answer is: It’s not always one or the other.  While both tools are designed to help your loved ones avoid the headaches of probate, attorneys often suggest utilizing the two of them together for maximum protection and efficiency. Quick Answer: The Strategy A Lady Bird Deed (available in Texas, Vermont, Michigan, West Virginia, and Fl

A caller recently asked us this exact question: “My brother is sick. Mom just gave each of us kids $113,000. He’s not married but has a girlfriend he’s been with for over 12 years. She has no money. If he passes, does she get the money in his bank account?” Here is the exact answer based only on what we explained in that call: While Your Brother Is Still Alive If the bank account is in his name only , the girlfriend has no access  at all. She can only get money if he personal

Have you ever played a card game where you thought you had the winning hand… until someone slams down a trump card and takes the entire pot? That’s exactly what happens in estate planning more often than you realize — and most people never see it coming. In estate planning , a “trump card”  is any designation on an asset that automatically overrides everything else you’ve written in your will or trust. No matter how carefully you drafted your will, no matter how many hours yo

If you're a property owner with multiple real estate assets, like an individual with 26 properties considering a living trust, you may be...

When planning your estate, you may wonder whether a Lady Bird deed  or a living trust  is the better option for transferring your assets,...

When planning your estate in Florida, a lady bird deed  can be a powerful tool to ensure your property passes smoothly to your loved ones...

Estate planning is crucial for anyone looking to protect their assets and ensure a smooth transfer to their loved ones. In Florida, a...