The general rule of law is that any person has the right to make a Will disposing of assets they own at any time. There are only a few restr

This column first appeared in the San Antonio Express News and other Hearst Newspapers on February 4, 2019. Reverse mortgages are a special type of home equity loan, which was illegal in Texas until the mid-1990’s. The legislature and voters had to actually amend the Texas Constitution to allow both general equity loans and reverse mortgages. The Texas Constitution does have an age requirement, but your friend had incorrect information. Instead of age 65, reverse mortgages ar

When you co-sign an auto loan, the lending bank is taking a security interest in the automobile. If payments are not timely made, the lender

In Texas, under the Texas Family Code, if the debt is unsecured (like a credit card or a student loan) then she should be more concerned. Sh

This column first appeared in the San Antonio Express News and other Hearst Newspapers on December 28, 2018. Land ownership can be complex, with issues of maintenance, taxes, sharing the use and enjoyment, and ultimately determining who will receive the land when you die. For some, that is a simple decision. But for those who have heirloom land and a desire to pass it on to more than one future generation, the choices can be more complex. If you simply devise the land to your

This column first appeared in the San Antonio Express News and other Hearst Newspapers on November 26, 2018. Dear Mr. Premack: I know you work primarily with retirees, but since you write about Wills and Estate Planning I’m hoping you can answer this question. My husband and I have two young children, pets, and a house with a mortgage. We know we need Wills and know that if we both were to die we’d want our assets to go to our kids, but they are just 6 and 8 years old. How to

This column first appeared in the San Antonio Express News and other Hearst Newspapers on November 19, 2018. Making a Will allows you, as owner of the home, to dictate various terms that apply to any inheritance. Your current plan to have the house sold by your Executor has the dual advantages of simplicity and equality. When the house is sold, everyone is treated the same. Your concern, however, is that your daughter isn’t really being treated the same. None of the other chi

This column first appeared in the San Antonio Express News and other Hearst Newspapers on November 5, 2018. Dear Mr. Premack: My father has moved into my home, and despite his very happy demeanor he is bedridden with various health issues. We do have a care provider who comes in several hours a day, so I can get out, buy groceries, etc. My husband set up one of the new Nest indoor security cameras, so I can check on dad using my phone from any location. The new care provider

This column first appeared in the San Antonio Express News and other Hearst Newspapers on October 30, 2018. Dear Mr. Premack: My father signed a Durable Power of Attorney about ten years ago, naming me as his Agent. For a long time, I didn’t need to do anything to help him, but now he is in a nursing home and is confused. I plan to sell his car, but the dealer is refusing to accept the power of attorney as-is. They say they want one of their own employees to be substituted as

This column first appeared in the San Antonio Express News and other Hearst Newspapers on October 12, 2018. MERP is the Medicaid Estate Recovery Program, a facet of the Medicaid program that has existed since 2005. Whenever any person applies for Medicaid benefits (for instance, to help pay for a nursing home) that person is informed, in writing, about MERP and its processes. Eventually, when the Medicaid recipient dies, MERP’s task is to recover for the state whatever it can

This column first appeared in the San Antonio Express News and other Hearst Newspapers on November 9, 2018. Dear Mr. Premack: My parents had four children, they paid for a house, and they both died with Wills leaving their house to the four children. We all agreed among ourselves to keep their house and split the net rental income it produces. We have all gotten along well until recently, when property values have started to go up. My sister transferred her share of the house