Country Lifestyles
Is Joint Tenancy a Good Estate Plan?
By Dal Houston
Recently I had a meeting with a client regarding his estate plan, and his primary question was whether he could use joint tenancy to avoid probate and/or the costs of preparing a trust.
As an estate attorney for the past 25 years, I have seen numerous estates handled by re-titling assets in joint tenancy, and many were administered without any problem and minimal costs; however, I have also seen as many estates run off the rails as a result of using joint tenancy.
First, before delving into the subject, I don’t have a major objection to using joint tenancy between spouses, as long as the joint tenancy implements the parties’ intentions and is the most advantageous to the client. Accordingly, most of this article is focused on using joint tenancy, with the client’s children or other intended beneficiaries.
In looking at this question, the first thing to do is clarify what the term “joint tenancy” means.
The term joint tenancy has significant legal meaning; in short, it means that upon the death of the first person, their interest is immediately vested in the survivor(s). For example, if a father and son own real estate together as joint tenants, upon the first death the property is immediately vested in the survivor.
To read more, pick up a copy of the January 2024 issue of NTFR magazine. To subscribe by mail, call 940-872-5922.
Lacey Vilhauer
Ingredients:
1 lb. ground beef
1 package of taco seasoning or 2-3 Tbsp
homemade taco seasoning
2/3 cup water
16 oz. Monterey Jack cheese, shredded
8 oz. sharp cheddar, shredded
4 oz. can diced green chilies, undrained
4 large eggs, separated
2/3 cup heavy cream or evaporated milk
1 Tbsp flour
½ tsp salt
¼ tsp cayenne pepper
1 Roma tomato, sliced thinly
Directions:
Preheat the oven to 350 degrees and lightly coat a 9×13 baking dish with cooking spray. Set aside.
Heat a heavy-bottomed skillet over medium heat, then brown the ground beef. Drain.
Add the taco seasoning to the ground beef and 2/3 cup water. Stir well and let sauce thicken.
Transfer the ground beef to the prepared baking dish, spreading it into an even layer. Sprinkle the diced green chilies over the ground beef layer. Combine the shredded cheeses and sprinkle them over the ground beef and chilies. Set aside.
Separate the egg whites from the yolks, placing the egg whites in a medium-sized bowl, and the yolks into a separate medium-sized bowl. Add the heavy cream, flour, salt and cayenne pepper to the yolks. Whisk to combine.
To read more, pick up the June issue of NTFR magazine. To subscribe by mail, call 940-872-5922.
By Jesse Kader
This month western meets safari with this fun army green jumpsuit. I love a good jumpsuit that is simple but stylish and can be accessorized in so many ways. This one especially caught my eye because of the western yoke detail. See this and more at www.jessesjewelz.com
University of North Texas music students were in awe by Texas Music icon, Lyle Lovett recently during his visit to the Denton campus to share his music and personal secrets on navigating a successful music career.
The four-time Grammy winner has recorded 14 albums and has released 25 singles throughout his illustrious career. He’s also most famous for creating his Large Band consisting of his talented rhythm section and a full horn section.
I too have had the honor of recording with Lyle during my time with Asleep At The Wheel and being a UNT grad, I was pleasantly surprised by this act of good will toward these young musicians.
To read more, pick up a copy of the May issue of NTFR magazine. To subscribe by mail, call 940-872-5922.
-
Country Lifestyles1 year agoScott & Stacey Schumacher: A Growth Mindset
-
Equine8 months agoThe Will to Win
-
Country Lifestyles7 years agoStyle Your Profile – What your style cowboy hat says about you and new trends in 2017
-
Country Lifestyles4 years agoAmber Crawford, Breakaway Roper
-
HOME7 years agoGrazing North Texas – Wilman Lovegrass
-
Outdoor9 years agoButtercup or Primrose?
-
Country Lifestyles7 years agoDecember 2016 Profile, Rusty Riddle – The Riddle Way
-
Country Lifestyles8 years agoJune 2016 Profile – The man behind the mic: Bob Tallman