Ronald Lipman

1 week ago | houstonchronicle.com | Ronald Lipman

Q: I own a home that my sister and her husband live in, and I claim the homestead exemption on my primary residence. I was told by a real estate title expert that if I sign a revocable life estate deed as grantor, giving my sister and her husband a life estate in the property as grantees, they would then be listed as the owners on the appraisal district’s website and would be able to claim the homestead exemption. I would retain the right to cancel the life estate.

2 weeks ago | houstonchronicle.com | Ronald Lipman

Q: If I cause an automobile accident and the victim is awarded a judgment against me that insurance doesn’t cover, are my retirement accounts and my homestead property exempt from the award? A: Yes. The homestead exemption is limited to 10 acres if you live in a city, or if you live outside a city, then the limit is 100 acres for an unmarried person and 200 acres for a married couple. Article continues below this adThere are generally no limits on the size of your retirement accounts.

3 weeks ago | houstonchronicle.com | Ronald Lipman

Q: When a minor turns 18, what estate documents should be drafted, and how soon? What if trust funds will begin being disbursed to that person at that age? A: Once a person reaches age 18 (the age of majority in Texas), it is a good idea for that person to sign a Durable Power of Attorney, Medical Power of Attorney, Directive to Physicians and HIPAA release.

4 weeks ago | houstonchronicle.com | Ronald Lipman

Q: My husband and I are over 65, and we looked at purchasing a condo in a high-rise the other day. The homeowners' association fees and the property taxes on the condo would be astronomical if we were to make the purchase. Is there any way to obtain the over age 65 exemption on either the HOA fees or the property taxes? A: You can claim the homestead exemption and the over-age-65 exemption on the condo, just like you can with any other free-standing home you might purchase.

1 month ago | houstonchronicle.com | Ronald Lipman

Q: In what circumstances should people revise their estate documents, in total or in part? When are codicils sufficient, and what's the protocol for drafting and including them? A: People revise their durable power of attorney, medical power of attorney, HIPAA releases and similar forms for a few reasons. Sometimes, they need to change the people they have named in those forms because the person has died, is too old or incapacitated, or is otherwise no longer someone they want to name.