Waco Legal Blog

As a parent, your children mean a lot to you. You want to provide for them after you pass away. Therefore, part of your estate planning involves leaving them a portion of your money. However, one of your children may be financially irresponsible, and he or she may spend money recklessly or not be entirely sure how to properly manage finances.

To protect them from blowing their inheritance in a short period, you can set up what’s known as a spendthrift trust. A spendthrift trust is a way for you to control how the beneficiary spends the funds in the trust, even after you pass away, but you may be asking: How does it work?

Everyone enjoys peace of mind and that’s why warranties are so popular. Everything from the car in your garage or the blender in your cupboard came with a warranty. You like knowing that you’re protected against defective products in the early stages of your ownership.

Many construction companies and contractors also offer warranties on their work. It’s a way of standing behind the work they perform on your home. There are two types of warranties that Texas recognizes when it comes to construction law

Many people understand that they can use their estate plan to make known what they would like to happen after they die. However, people often do not realize that they can also plan what they would like to happen if they become incapacitated.

When planning for incapacitation, one area of concern may be medical decisions. Fortunately, you can plan who will make medical decisions if you become unable to make them yourself.

Getting older typically involves many things that may make you uncomfortable. You might need to ask for assistance from others, and you may need to move into a smaller home. Difficult conversations may also be important as you age, since it is important that you create a sound plan to carry out your wishes, which may include setting up a trust to pass along your assets to your loved ones.

Part of the creation of a trust involves naming a trustee who will be responsible for administering your estate according to your wishes. With certain duties involved, you will likely want to choose someone who is capable of performing that role according to your specifications. Choosing a trustee is an important decision, but do you know how to decide who that person will be?