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Author Archives: Sharon L. Michaels

What a power of attorney can and cannot do

Many clients are given powers of attorney for their finances when working with their estate planning attorney. They often file the documents away without ever showing them either to their intended agent or to the financial institution involved. Even if the agent knows the paperwork exists, they often assume they just need to take the […]

I have my Dad’s will who just passed away. Now What?

This is a typical situation where one of the children had or finds the deceased parent’s will and is not quite sure what to do. The adult child may not be quite sure what should happen next. Texas law requires that a will be admitted to probate within four years of death in order for […]

Potential Tax Effect on Alimony Payments in Texas

The tax legislation is not finalized yet. But the version coming from the House of Representatives changes the present law which currently allows a tax deduction to the spouse making the payments and is taxable income to the recipient. Many divorce settlements in Texas are reached through mediation where the divorcing couple and their attorneys […]

Dividing Home Equity in a Texas Divorce

In many states, the two most common options to divide the marital homestead in a divorce are either for the parties to agree to a sale, or for one of the divorcing parties to buy out the interest of the other. This certainly occurs in Texas as well, but sometimes neither of these two options […]

Five Reasons to Make a Will

 Texas law makes it much more economical to probate a simple will than many other states. You can provide in the will for independent administration so that your heirs can easily take the actions to carry out your wishes. Without a will, your heirs will have to file for an heirship proceeding, costing two to […]

Five Good Reasons to Think about a Post-Nuptial Marital Agreement

Most people are much more familiar with the idea of premarital agreements. Usually there is the concept of protecting a much wealthier person’s assets from being divided in a divorce action. Once a couple has married with no such agreement, there is the perception that there is nothing to be done about this. Further, if […]

Five Good Reasons to Think about a Post-Nuptial Marital Agreement

Most people are much more familiar with the idea of premarital agreements. Usually there is the concept of protecting a much wealthier person’s assets from being divided in a divorce action. Once a couple has married with no such agreement, there is the perception that there is nothing to be done about this. Further, if […]

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