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Review older wills to determine if trusts remain advantageous

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The information in this column is intended to provide a general understanding of the law, not as legal advice. Readers with legal problems, including those whose questions are addressed here, should consult attorneys for advice on their particular circumstances.

Q: My wife and I have wills we signed 25 years ago that create trusts to save estate taxes. I know laws have changed since then. Our assets are under $4 million. Should we change to simple wills? We have three children

A: Estate tax laws were very different when you signed your will than they are now.

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With the exemption from estate taxes now at $5.43 million per person, and increasing to $5.45 million per person next year, there is no tax reason to create trusts when one of you dies.

You should discuss your estate plan with an attorney to determine whether it would be best to simplify your wills. Even though trusts may not be needed to save taxes, there might be other reasons to keep your estate plan as it is. For instance, this might be your second marriage, or there might be issues with creditors.

The bottom line is that for many married couples who executed complicated wills to save estate taxes, simplifying the estate plan is the way to go. The only thing stopping many clients is the lawyer's fee for preparing the new documents.

Q: My neighbor has a tree with a large branch that recently was damaged by heavy wind. It snapped and is hanging lifeless, about to fall onto my property. I called my neighbor suggesting the branch is a danger, but he has not responded. What are his responsibilities?

A: Your neighbor must remove the dead branch if it is, in fact, a danger to your property.

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You didn't mention what it will hit when it does fall. If the branch will just land in the back of your yard, far away from your house, then there may not be an urgent need for your neighbor to act. But if the branch hangs near where your children play, or next to your driveway, or anywhere else where it might fall and hurt a person or damage your property, then your neighbor would have a duty to remove the branch.

Of course, if your neighbor refuses to do anything, you may want to pay someone to remove the branch before anything bad happens.

Q: My husband died last May. Can I handle the will probate myself, or should I see a lawyer?

A: There is no law preventing you from representing yourself.

A number of complicated legal documents, however, must be prepared and filed with the court, and there will be a court hearing where you or another witness must provide proper testimony to the judge.

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You would definitely benefit from the guidance of an attorney.

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Ronald Lipman, of Houston law firm Lipman & Associates, is board certified in estate planning and probate law by the Texas Board of Legal Specialization. The information in his column is intended to provide a general understanding of the law, not as legal advice. Readers with legal problems, including those whose questions are addressed here, should consult attorneys for advice on their particular circumstances.