The Law Office of Sidra Khwaja, PLLC

01/17/2023

Recently, I have had new clients call me overwhelmed after the death of a family member and have no idea how to proceed. Below is a quick run-through of things to consider after the funeral has taken place.

1. Keep the funeral bill to be reimbursed from the estate after probate.
2. Collect the mail of the deceased, specifically any bills and bank statements to help assess what assets and debts may be in the estate.
3. Talk to the deceased’s accountant to get a previous tax return and to begin preparing the final tax return. A previous tax return will also help ascertain the assets in the estate.
4. Find out if there is a will or if no will is found, whether all family members agree to appointing one individual to administer the estate.
5. Talk to a probate lawyer to begin probate proceedings to help transfer bank accounts, homes, stocks and investments and any other personal assets to the rightful heirs.

04/14/2022

Why you should talk to an estate planning attorney

One of the most common questions that people ask me as an estate planning attorney is whether or not an online will or any template of a will found at a mosque or community center is good enough. My answer is always the same. Will it suffice to work as a will? Yes, given it has the basic identifying language, signed and witnessed. But will it accomplish your goals? And the answer is: You just won’t know really until you die. This is the main reason you talk to someone familiar with estate planning. You get to talk about your family, what your goals are, learn about the different options out there and what the different consequences are for those options, and what to do to actually implement what you truly want to accomplish. Can you give your stuff away by writing down who gets what? Yes, of course. But planning is not just about giving away your things. It is about how best to protect your family. If you want peace of mind that what you are doing is actually going to accomplish your goals and protect your family, call an estate planning attorney. Remember what is important to you and take affirmative steps to take care of those things. I guarantee you will feel a sense of relief and accomplishment after completing your plan that you wouldn’t get with just any standard written document!

I love hearing about your family and your goals. Call me at (713) 331-9152 and we can have a conversation about how to get started. OR call any other estate planning attorney because though it may not be an immediate need, it is an important one!

10/28/2021

Tune in tonight at 8:30pm to hear a panel discussion on Guardianship. The Link is: facebook.com/themasjid

08/25/2021

Check out our panel discussion on estate planning and what to do when a loved one passes away.

06/21/2021

Texas is a Community Property State. What does that mean?

1. All assets and debts acquired during marriage are split equally. This includes income earned from all businesses and investments, residential and rental property, settlements or damages awarded from lawsuits, and retirement funds and pensions earned, what is contributed and accrued during marriage.

2. Inheritance and assets owned prior to marriage in most cases may retain a separate property status.

3. This means that upon your passing, you are required to leave 50% of your estate to your spouse. You are free to disburse your half however you wish if you have an estate plan.

4. Only 9 states are community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

5. If you do not wish to have your assets disbursed according to community property laws, you can mutually agree to a different plan.

03/30/2021

https://www.nbcdfw.com/news/coronavirus/fema-offers-financial-relief-for-covid-19-related-funeral-expenses/2591890/?fbclid=IwAR3o-nXaGzkRYB_MvqYUpJF_xiv8tY85F0iACJ6HPivC3M5c9l4qslPURV0

The Federal Emergency Management Agency is offering to provide financial relief for COVID-19-related funeral expenses beginning next month.

03/21/2021

How to Prepare for Your Death?

1. Have a comprehensive list of assets and make sure at least one other person has knowledge of this list.

2. If you own a business, make sure to have a business succession plan in place.

3. If you have minors that will inherit, make sure to have a plan in place since minors CANNOT inherit directly.

4. Assign guardians for your minors so you have a say in who takes your child in the worst case scenario that something happens to both parents.

5. Have a will or a trust that assigns an executor or trustee that you trust to have immediate access to handle all your financial affairs.

Call a probate and estate planning attorney for more details!

03/11/2021

PLAN
WHILE YOU CAN!