Maxey v. Maxey – 3 Takeaways about Putting Real Estate in Trust

Do you have questions about putting real estate in trust? Well, this interesting case of Maxey v. Maxey will answer them for you.

What is Maxey v. Maxey About?

This is a Texas appellate case about a dispute between two sisters who couldn’t reach an agreement on dividing property among different trusts.

The sisters then entered into a settlement agreement on dividing the real estate. But a disagreement initiated between them again about what the settlement agreement meant.

Because of this, the trial court discovered that the terms of the settlement agreement were somewhat ambiguous, and they submitted the meaning to a jury.

Again, the losing sister appealed the jury trial. The decision of the court of appeals was reversed, and it was decided that the terms were not ambiguous in the first place.

Thus, the case was remanded back to the trial court to properly divide the real estate according to the settlement agreement.

Nevertheless, these are some of the steps you can take to avoid disputes while putting real estate in trust.

Communicate your Plan with the People Impacted by it

You can avoid disputes of any kind through communication. If you are putting real estate in trust, make sure to communicate your goals with the people whom your decision will impact.

If you think you are not good at communicating such matters, consider getting help from an experienced attorney at Keystone Asset Protection and Estate Planning

Attach a Signed Explanation Letter

Another way to communicate your inheritance decision is by attaching a separate explanation letter elaborating on your estate planning goals.

Obtain a Certificate of Independent Review

Consider obtaining a certificate of independent review to imply that the terms of planning match with what you actually want.

Contact a Knowledgeable Attorney

If you have any other questions about putting real estate in trust, a knowledgeable estate planning attorney will help you out. Contact Keystone Asset Protection and Estate Planning today and choose the best for yourself.