{"id":13005,"date":"2024-10-13T06:00:12","date_gmt":"2024-10-13T11:00:12","guid":{"rendered":"https:\/\/legaltalktexas.hammerle.com\/?p=13005"},"modified":"2025-06-18T12:13:32","modified_gmt":"2025-06-18T17:13:32","slug":"great-wealth-transfer-inheritance-may-be-coming-your-way","status":"publish","type":"post","link":"https:\/\/hammerle.com\/legaltalk\/probate\/great-wealth-transfer-inheritance-may-be-coming-your-way\/","title":{"rendered":"The Great Wealth Transfer: An Inheritance May Be Coming Your Way Soon"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">It might seem crass to measure a memory with money, but millions of us may soon have that opportunity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Why?\u00a0\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/hammerle.com\/legaltalk\/legal-talk\/coming-soon-to-a-town-near-you-the-baby-boomers\/\"><span style=\"font-weight: 400;\">Baby Boomers<\/span><\/a><span style=\"font-weight: 400;\"> are dying off, and an estimated 40% of them do not have a will. Another 20% of U.S. adults 50 years or older do not have children.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That means a lot of distant relatives are about to become heirs to what has been called The Great Wealth Transfer: a whopping $84 trillion over the next 20 years.\u00a0\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">You\u2019re In Line For An Inheritance: What Now?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Pay attention to your mail, especially if it is sent certified, Fed-Ex or UPS. Not every letter from an attorney bears bad news.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In <\/span><a href=\"https:\/\/hammerle.com\/legaltalk\/probate\/path-painfully-traveled-act-now-avoid-texas-heirship-law\/\"><span style=\"font-weight: 400;\">heirship<\/span><\/a><span style=\"font-weight: 400;\"> proceedings, which are necessary when a person dies without a will and has a <\/span><a href=\"https:\/\/hammerle.com\/legaltalk\/probate\/black-hole-of-probate\/\"><span style=\"font-weight: 400;\">probate estate<\/span><\/a><span style=\"font-weight: 400;\">, the applicant is required to give written notice to all purported heirs. In a proceeding where a person dies with a will, the executor is required to give written notice to the named beneficiaries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That is why you don\u2019t want to toss the letter unopened: it will give you important information. If it is an heirship proceeding, then you will get notice about the application to declare who are the decedent\u2019s heirs and what portion they will receive of the distribution. You are entitled to participate in the proceeding.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the court determines that you are an <\/span><a href=\"https:\/\/hammerle.com\/legaltalk\/probate\/heres-heir-theres-heir-heirs-everywhere\/\"><span style=\"font-weight: 400;\">heir<\/span><\/a><span style=\"font-weight: 400;\">, then two things can happen. The first is that the order is filed and serves as a transfer of ownership of the assets. You will then have the job of discovering the assets and asserting ownership.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The second is that the court opens a probate state and appoints an administrator to secure assets, pay debts and taxes, and make the final distribution.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the attorney letter concerns an estate for a person who died with a will, then you will receive a copy of the will and contact information for the executor.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Common Proceedings for Probate Estates<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Both heirs and <\/span><a href=\"https:\/\/hammerle.com\/legaltalk\/probate\/beneficiary-in-waiting-rights-during-the-probate-process-can-be-complex\/\"><span style=\"font-weight: 400;\">beneficiaries<\/span><\/a><span style=\"font-weight: 400;\"> fall under the title of \u201cdistributee,\u201d meaning they are entitled to a distribution from the estate.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Probate Deadlines\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In Texas, there are some deadlines that distributees need to know. For simplicity\u2019s sake, we will refer to an executor under a more generic term, <\/span><a href=\"https:\/\/hammerle.com\/legaltalk\/probate\/the-probate-talk-administrators-creditors-and-beneficiaries-need-to-know\/\"><span style=\"font-weight: 400;\">administrator<\/span><\/a><span style=\"font-weight: 400;\">. Just remember that there are several flavors of executors and administrators who come with various powers and restrictions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Administrators have 90 days to file an inventory of the estate assets and claims. An accounting is automatically due in most estates at 1 yr + 60 days; for other estates it can be demanded at 15 months. Let the administrator do their job but keep those deadlines in mind.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Hiring an Attorney To Assist With Probate<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you are a distributee, do you need to hire an attorney? Maybe. Administrators have been known to delay, prevaricate, steal, self-deal and otherwise make a mess of things. Some administrators will even \u201crequire\u201d that you release them from all claims, known or unknown, before they distribute your inheritance. You don\u2019t have to sign a release, by the way.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A <\/span><a href=\"https:\/\/hammerle.com\/practice-areas\/estate-planning-probate\/probate\/\"><span style=\"font-weight: 400;\">probate<\/span><\/a><span style=\"font-weight: 400;\"> proceeding can mean playing against a stacked deck. If you have to go to court, you would be wise to be represented by an attorney.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The more money at stake, the more incentive for mischief. Just watch out for scams: you should not have to send money to get money.\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And play nice with your relatives. You just never know\u2026<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Get Probate Assistance With Hammerle Morris Law Firm<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The knowledgeable <\/span><a href=\"https:\/\/hammerle.com\/our-team\/\"><span style=\"font-weight: 400;\">team of attorneys<\/span><\/a><span style=\"font-weight: 400;\"> at Hammerle Morris are here to help with all of your legal needs. If you need assistance with Probate or any other legal matter, <\/span><a href=\"https:\/\/hammerle.com\/lewisville-attorney\/#form\"><span style=\"font-weight: 400;\">schedule a consultation<\/span><\/a><span style=\"font-weight: 400;\"> with our team today.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Virginia Hammerle is an accredited estate planner and represents clients in estate planning, probate, guardianship, and contested litigation. She may be reached at <\/span><\/i><a href=\"mailto:legaltalktexas@hammerle.com\"><i><span style=\"font-weight: 400;\">legaltalktexas@hammerle.com<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">. This blog contains general information only and does not constitute legal advice.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It might seem crass to measure a memory with money, but millions of us may soon have that opportunity. Why?\u00a0\u00a0 Baby Boomers are dying off, and an estimated 40% of them do not have a will. Another 20% of U.S. adults 50 years or older do not have children.\u00a0 That means a lot of distant [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13006,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1225],"tags":[],"class_list":{"0":"post-13005","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-probate"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wealth Transfer: Inheritance May Be Coming Your Way | Hammerle Morris Law Firm<\/title>\n<meta name=\"description\" content=\"Discover how to navigate inheritance and probate as Baby Boomers pass on their wealth. Learn your rights as a distributee and the value of legal guidance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hammerle.com\/legaltalk\/probate\/great-wealth-transfer-inheritance-may-be-coming-your-way\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wealth Transfer: Inheritance May Be Coming Your Way | Hammerle Morris Law Firm\" \/>\n<meta property=\"og:description\" content=\"Discover how to navigate inheritance and probate as Baby Boomers pass on their wealth. Learn your rights as a distributee and the value of legal guidance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hammerle.com\/legaltalk\/probate\/great-wealth-transfer-inheritance-may-be-coming-your-way\/\" \/>\n<meta property=\"og:site_name\" content=\"Hammerle Morris Law Firm\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-13T11:00:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-18T17:13:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/hammerle.com\/legaltalk\/wp-content\/uploads\/sites\/2\/2024\/10\/Hammerle-10_13-Blog-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Virginia Hammerle\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Virginia Hammerle\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/probate\\\/great-wealth-transfer-inheritance-may-be-coming-your-way\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/probate\\\/great-wealth-transfer-inheritance-may-be-coming-your-way\\\/\"},\"author\":{\"name\":\"Virginia Hammerle\",\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/#\\\/schema\\\/person\\\/3a35dce360aad1cd9da53574c3c1a6bd\"},\"headline\":\"The Great Wealth Transfer: An Inheritance May Be Coming Your Way Soon\",\"datePublished\":\"2024-10-13T11:00:12+00:00\",\"dateModified\":\"2025-06-18T17:13:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/probate\\\/great-wealth-transfer-inheritance-may-be-coming-your-way\\\/\"},\"wordCount\":657,\"image\":{\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/probate\\\/great-wealth-transfer-inheritance-may-be-coming-your-way\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/10\\\/Hammerle-10_13-Blog-scaled.jpg\",\"articleSection\":[\"Probate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/probate\\\/great-wealth-transfer-inheritance-may-be-coming-your-way\\\/\",\"url\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/probate\\\/great-wealth-transfer-inheritance-may-be-coming-your-way\\\/\",\"name\":\"Wealth Transfer: Inheritance May Be Coming Your Way | Hammerle Morris Law Firm\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/probate\\\/great-wealth-transfer-inheritance-may-be-coming-your-way\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/probate\\\/great-wealth-transfer-inheritance-may-be-coming-your-way\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/10\\\/Hammerle-10_13-Blog-scaled.jpg\",\"datePublished\":\"2024-10-13T11:00:12+00:00\",\"dateModified\":\"2025-06-18T17:13:32+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/hammerle.com\\\/legaltalk\\\/#\\\/schema\\\/person\\\/3a35dce360aad1cd9da53574c3c1a6bd\"},\"description\":\"Discover how to navigate inheritance and probate as Baby Boomers pass on their wealth. 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