Today, “family” means nearly any construct of people. Perhaps the most prolific family ‘type’ in modern times has been the unmarried couple whocohabitate throughliving together outside of a formal maritalrelationship. The people we lovingly say are “shacking up.”

It’s pretty common for people to look at living together as the next logical step in the progression of their relationship. You date – then you live together – and, later, if it has all worked out, you’ll think about marriage. Or not. You and your significant other sign a lease, buy some furniture and make a home. Sounds perfect, right? Not so fast. Without even really thinking about it, you’re putting each other at terrible legal risk.

Just think of a typical scenario like, a young woman seeking help because her longtime boyfriend recently died unexpectedly in a tragic accident. In a matter of minutes, their lives went from happily cohabitating to abruptly over.

Her boyfriend was a young, up-and-coming professional. He made good money and was passionate about his career. His employer had an accidental death life insurance policy and the young man owned various personal items and some real property. First question: did the young man have a will? Answer: no.

Unfortunately, in the State of Texas, in a situation like this, the surviving girlfriend/boyfriend/fiancé often has no legal right to the decedent’s property. The law provides that when someone dies without a Last Will & Testament, the decedent’s surviving family members inherit their property. Though the young man treated and considered his girlfriend as his family, in the eyes of the law, she is not. She has no rights of inheritance from him and his parents inherit all of his property. Literally, she is left with none of his property.

The reality is simple: the law has yet to identify unmarried persons as “family” for purposes of inheritance. To truly protect your girlfriend/boyfriend, you should either have a Will, identify yourselves as common-law spouses, or become formally married. Only those 3 scenarios will provide your loved one with the legal rights that will protect your partner. Working with an Attorney to create a simple estate plan is one of the simplest way of ensuring everyone is protected and your wishes are memorialized.

If you are looking for more information regarding creating a customized estate plan Weldy Law, PLLC can help! Call us today 806-928-2087.

The above blog is for informational purposes only and is not legal advice nor does any information or communication with this website create an attorney-client relationship.

Don’t fail your loved ones when it comes to addressing online accounts- take the proper steps so that your loved ones are prepared to address your digital footprint.

Globally, our online presence and daily use of digital resources is astounding. A majority of Americans do some or most of their banking online and a vast majority of Americans have at least one social media account.

But how do we prepare for the inevitable and ensure our loved ones can manage the digital part of our lives when we’re gone?

Lets explore a few options:

First, What are some good ways to Manage Passwords?

Let’s start with what not to do. It’s a bad idea to use the same password for each account: if one account gets hacked, then the rest of your accounts are at risk. It’s a bad idea to store those passwords on a piece of paper on your desk under your keyboard or taped to the monitor.

There are a multitude of secure “data banks” online these days – sites that will keep your information safe for a fee. Sites like Passwordwallet.com or Lastpass.com are useful and can save you and your loved ones a lot of trouble down the line. Creating a repository for all online account login and passwords may avoid future headaches.

What about closing or modifying an Account?

Most companies have simple policies on closing or modifying ownership of an online account when the original account owner is deceased. Typically, you only need to produce a death certificate – copies of which can be obtain from either the funeral home or the county and state where the loved one passed away.

But some companies have presented challenges. Initially, Facebook required additional confirmation that an individual had died, and that process was frustrating and time-consuming.

Facebook has since revised its policies, and now offers a cleaner way toresolve the issue. A superior solution to this problem may be making sure key family members or trusted friends have access to your password should you no longer be able to give it.

What about Offline Accounts?

In some cases, more than a simple death certificate or password is needed. When dealing with assets of an estate, especially a bank account, you may need to request from a court Letters Testamentary and open probate or administration proceedings. Here, you’ll need more than a piece of paper – you may want to hire an attorney who can assist in collecting the appropriate evidence a judge will need to review to make the desired ruling.

At Weldy Law, PLLC , we assist our clients on just these matters and have years of experience. Whether it is representing your interests in court or finalizing your estate plan to include instructions on your digital assets, we’re motivated to make the most of your time and investment in your future. Call us at (806) 928-2087 to schedule a free initial consultation.

Transfer of a Mineral Estate

When probating or administering mineral interests, it becomes necessary to identify mineral interests for purposes of property inventory and transfer of legal ownership.

Starting Point: Where is the Property?

First, obtain enough information to identify the location and type of mineral interests. Often, you may not have that information readily available. A few ways to determine the type and location of mineral interests is look for:

Mineral Deeds; Stubs from Royalty Checks and/or Division Orders for Producing Royalty Interests; Property Tax Records; Previous Income Tax Returns; and Inventory, Appraisement & List of Claims (Previously Inherited Mineral Interests).

If all you know is where minerals are located, such as the county, basic research is the next step. This starts with distinguishing whether the mineral interests are producing or non-producing.

Producing mineral interests can be researched in the property tax records by searching the owner’s name to locate the operator, or oil and gas company. For example, records may be found at the following website: small counties (http://appraisaldistrict.net/). The operator, along with the name of the well and unit, is usually listed on the tax statement. With this information, you can contact the operator to obtain copies of mineral deeds, assignments, conveyances or unit designations. You may also research the Railroad Commission of Texas records online at http://www.rrc.state.tx.us/ to obtain additional information. It is typically more advantageous to contact the operator before contacting the Commission because the information the operator provides you will be more detailed.

Non-producing mineral interests can be researched in real property records by the grantor/grantee name. Many local county websites allow you to search records at no cost.

You may also research records for a fee at www.texaslandrecords.com. However, most small county real property records are not accessible via the Internet. Even many large county real property records only go back to the late 1980s on the Internet. In those situations, you can contact the county clerk and request a record search of the grantor/grantee indices for a particular name and time period for a nominal fee. In some cases, it may be necessary to hire a landman to locate mineral interests; however, this method can be expensive.

Next Step: Transferring Title

If there is no administration of the estate, such as muniment of title or small estate affidavit, certified copies of the will/order or affidavit should be recorded with the county clerk in all the counties where the mineral interests are located. For estates, where an administrator or executor has been appointed, the personal representative can execute a mineral deed conveying the mineral interests to beneficiaries.

Goal: Getting the Money

In the case of an estate involving producing mineral interests, you will need to contact the operator, or oil and gas company, to request a new division order be prepared. The division order is the document that is signed by the owner (the beneficiary) that reflects new ownership and how royalty payments are to be distributed. Depending on the type of administration, the operator usually requires evidence as to probate or the administration of the estate. You should verify with the operator what type of documentation it requires to issue a new division order.

These are some of the foundation steps used to transfer a mineral interest. Of course, every situation is different and it is prudent to consult an attorney when dealing with an estate and transferring property rights. Weldy Law, PLLC is here to help you navigate the sometimes daunting task of property transfers, if you are looking for assistance call us today for a free initial phone consultation- 806-928-2087.

The above blog is for informational purposes only and is not legal advice nor does any information or communication with the website create an attorney-client relationship.

Divorce can factor into an individual’s estate plan, retirement plans, or business interests. Here are a few things to keep in mind if you are considering divorce.

Divorce and Wills

During the divorce process, the last thing on anyone’s mind is what would happen if they unexpectedly pass away or become seriously ill. Most people are surprised to learn that the soon-to-be ex-spouse retains legal power to make medical decisions for you until the divorce is finalized. Your parents or siblings would have to petition a court to obtain those legal rights.

Likewise, if you die before your divorce is finalized, the divorce action will be dismissed and the executor determinations of your will move in place. In that scenario, now your surviving spouse has control over your estate and assets. Revising your will immediately subsequent a divorce is vital.

Divorce and Business

Another common mistake is assuming any business interest or asset a person has built on their own while married is theirs solely when they divorce. Texas is a community property state meaning that under the law, each party owns half the assets accumulated during the marriage. This means your spouse owns 50 percent of your business if you used money accrued during the life of the marriage to start the business.

Unless there are originating documents or a prenuptial agreement in place, a financial interest in a business is inheritable by a surviving spouse. Consider two individuals who create a partnership and split ownership in half. Each ownership piece is then split in half again between the partner and his or her spouse. Should a partner die (without the proper agreements in place on how to deal with such an event), the surviving spouse would have decision-making authority on all financial matters for that business.

What To Do

At Weldy Law, we can draft business succession plans to address this scenario as well as many others. Our job is to consider all the possibilities and make sure the legacy and financial integrity of our clients remain intact. Death and divorce create difficulties, but we are committed to finding satisfactory solutions to these problems.

Have more questions about how a divorce can impact your estate plan or business? Give us a call at 806-928-2087 and let’s set up a free initial phone consultation to discuss your concerns or needs.

The above blog is for informational purposes only and is not legal advice nor does any information or communication with the website create an attorney-client relationship.

Nearly everyone in America would benefit from the security of having a basic estate plan that includes a Will, Powers of Attorney (both financial and medical) and an Advance Directive (sometimes referred to as a Living Will.) If you fall into the category of pre-planning Americans who have already completed their plan, you’ve gone further than most. But, you may not be done. Here are a few important actions that you should consider if you haven’t already:

Periodically Revisit Your Plan: Depending on the complexity of your personal or financial status, you should periodically revisit your estate and financial plan. Most attorneys suggest a plan review at least every 5 years (although such review should be done more frequently if you are a high net-worth individual, or if your family situation changes because of a birth, divorce, marriage, etc.). Your estate plan is often an active part of your life and should not be done only once in your lifetime.

Preserve Original Documents and Keep them Accessible: In most states, courts want to see the original documents, not merely photocopies. Because some state laws can infer that you have revoked documents that can’t be produced, it’s important to ensure that original, signed documents can be given to a court when needed. Also, don’t merely squirrel the documents into a safety deposit box that only you can access. After all, if you have appointed your brother as your primary decision maker if you become incapacitated, how can he access those documents? One possible solution is to store your Estate Plan in a at-home safe that is fire resistant and is accessible by the person you’ve named as the Executor under your Will or the Agent named under your Power of Attorney. No matter where you store your important documents, be sure and tell people close to you where they can find your documents if necessary.

Compile an “Important Documents” File: Consider the hardship that your loved ones will go through immediately if you are seriously injured or when you pass away. They may not be thinking clearly or have immediate access to a lawyer. We suggest taking the time to create a binder that includes the following: your estate planning documents (originals), insurance documents, home deed, a list of banking accounts (including account numbers and institutions), a list of any significant creditors, and even digital asset usernames and passwords. You may also include your list of trusted advisor, such as your attorney, CPA, insurance professional, or treating physician. Once you’ve compiled the binder, store it in a safe and secure place (see above) and instruct your trusted loved ones where they can find it.

Review and Verify Beneficiary Designations and P.O.D. Designations: By law, most states require insurance designations to be made in writing. Most banking institutions require the same. If you have any life insurance or wish to designate your financial accounts (including bank accounts, retirement accounts, or stock accounts), contact your insurance or financial professional to verify the designations meet your goals. If they don’t, ask them how to revise them to meet your estate planning goals.

For more information about estate planning please contact our office. We can provide guidance or help with your existing estate plan. Contact us today at 806-928-2087.