Newman Michael S

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(817) 656-8100Call Visit WebsiteVisit Website Map & DirectionsDirections9288 Huntington SqNorth Richland Hills, TX 76182 Write a ReviewWrite Review

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Newman Michael S

Guardianship
You should not leave property (or money) to a child (or other person) that is under the age of eighteen. Should they inherit, before they are an adult (age 18, in Texas), their inheritance would be forced into a Guardianship, which is very expensive, and cumbersome! Instead, you should consider including a Trust inside your Will, for the purpose of holding the minor child’s inheritance until the child reaches an age that you determine. I typically suggest age 25. The Trustee, of course, can spend as much, or as little of the Trust funds for the benefit of the minor child during the course of the Trust. The standard expenditures, out of a Trust, are for the health, education, maintenance and support of the minor child. When the child reaches the age you have established, the remainder of the assets are transferred to the (then adult) child.

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Michael S Newman Attorney at Law

Newman Michael S Attorney At Law

Newman, Michael S, JD

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http://www.newmanlawtx.com

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Attorneys, Business Law Attorneys, Business Litigation Attorneys, Corporation & Partnership Law Attorneys, Elder Law Attorneys, Estate Planning, Probate, & Living Trusts, Family Law Attorneys, General Practice Attorneys, Legal Service Plans, Real Estate Attorneys, Title Companies, Wills, Trusts & Estate Planning Attorneys

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Phone: (817) 656-8100

Address: 9288 Huntington Sq, North Richland Hills, TX 76182

Website: http://www.newmanlawtx.com

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Newman Michael S

Guardianship
You should not leave property (or money) to a child (or other person) that is under the age of eighteen. Should they inherit, before they are an adult (age 18, in Texas), their inheritance would be forced into a Guardianship, which is very expensive, and cumbersome! Instead, you should consider including a Trust inside your Will, for the purpose of holding the minor child’s inheritance until the child reaches an age that you determine. I typically suggest age 25. The Trustee, of course, can spend as much, or as little of the Trust funds for the benefit of the minor child during the course of the Trust. The standard expenditures, out of a Trust, are for the health, education, maintenance and support of the minor child. When the child reaches the age you have established, the remainder of the assets are transferred to the (then adult) child.

Business and Corporate Law

Business Formation
With over 38 years experience, Mr. Newman focuses his practice on business formation, representation of businesses in Texas, estate planning, probate, real estate and commercial law.
Business Disputes
Limited Liability Companies
Business/Corporate – formation of business entities (corporations, limited partnerships, and limited liability companies), advising ongoing businesses, documenting acquisitions and dissolutions, negotiating and drafting contracts.

Real Estate Litigation
Michael S. Newman has been practicing general civil law, business formation and business law, estate planning, probate and real estate law for over 35 years and has found that clients truly appreciate the time and effort put into every aspect of their business and legal matters.
Real Estate Transactions

Trusts and Estates

Estate Planning
A "Lady Bird Deed" (properly known as an Enhanced Life Estate Deed) allows an owner of real property to name the person(s) that will get the property, when the owner dies. This is a simple estate planning tool that will allow the property owner to leave the real property to the beneficiary of their choice, without the need for probate. The benefit for doing this is the potential for avoiding Probate (for example, if all of the bank accounts, automobiles, etc. have beneficiaries listed, it was all too common that a need still existed for some form of Probate, just to transfer the ownership of the house, upon a person's death).
Wills
Power of Attorney
Please also consider drafting a Medical Power of Attorney and Living Will. The Medical Power of Attorney allows another person to make medical decisions for you, if you are unable to do so. You always have the right to make your own medical decisions, as long your health care provider believes that you are capable of making informed decisions. You can place limitations or directions in your Medical Power of Attorney, but that is seldom included. If you have any concerns in that regard, further consultation should be had to ensure your wishes. Also, you should consider the benefits of a Living Will. Many people, given the choice, would not want their body to be artificially kept alive, once a doctor has determined that there is no expectation of recovery and that life is merely being prolonged by medication, breathing tubes and/or feeding tubes. Those people, given the choice, would rather they be kept comfortable, and be allowed to die, “naturally”. These are tough decisions, but they are even tougher, if they are left to family to make, on your behalf.
Probate

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