If you own real estate in more than one state, you may be setting your family up for a legal and financial ordeal — even if you have a will. Here's why: a will is admitted to probate in the state where you were domiciled at death. But real estate in another state is subject to that state's laws — and must go through a separate probate proceeding called ancillary probate. Own property in three states? Your family may face three simultaneous probates, each in a different court, each with its...

For many Texas retirees, the family home is the largest single asset they own. It's also, for most families, the one asset most likely to cause problems at death — if it's not properly planned for. The core question is simple: when you die, how does your home pass to your family? The answer depends entirely on how the property is titled and what documents you have in place. If your home is titled in your name alone and you have only a will, it will go through probate — a court-supervised...

Buying your first home is one of the most significant financial decisions of your life. It's also one of the most significant estate planning triggers — and most first-time buyers don't realize it until much later. The moment you sign the closing documents, you own a substantial asset. Without an estate plan, the question of what happens to that asset if something happens to you is answered entirely by state law — not by you. Here are three steps to take right away: Step 1: Write or update...