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When you make your estate plans, you can be confronted with a bewildering array of options designed to help you pass your assets to the right people -- while also minimizing tax obligations and probate. Texas is one of the few states that allows the use of a Lady Bird...
If you have a child with special needs, then you should consider creating a special needs trust. These trusts have several benefits that relate to your child. A special needs trust can provide financial security. Your child may require more care and more medical...
Estate planning is one of those life events that many people put off doing. Many do so in part because they find it challenging to determine whom to chose as the executor of their estate. The selection of an executor is a critical decision. That person will be...
Many young people neglect to make estate plans. Sometimes, they do so because they prefer not to think about what would happen, should they die. In other instances, they neglect to do so because they feel they do not have enough assets, or because they believe there...
You have the opportunity to care for yourself and look after your family through estate planning. A proper estate plan allows you to make informed decisions about your financial goals. Familiarizing yourself with estate planning myths can help you avoid mistakes. 1....
After a loved one passes away, their estate plan should reflect their wishes for their legacy. However, in some cases the will may not truly represent their wishes and interests. Under Texas law, an interested party—beneficiaries, trustees, family members and others...
According to Forbes Magazine, a majority of adults in the United States have not made any sort of estate plan. You may think that estate planning is only for the elderly or people who are very rich. The truth is that anyone can benefit from an estate plan, and...
After creating your estate plan, you may have let it sit for a while. You might think you have no need to review it soon – or at all. Life happens, though, and failing to account for changes could cause problems down the road. Barring any major events, you will want...
Being the executor or administrator of an estate is a thankless job. Although sometimes the deceased individual leaves a financial pittance or extra assets for the executor, many times it is a duty performed out of a sense of obligation rather than for compensation....
People planning for their golden years want to age gracefully and spend as much time as possible as healthy, thriving adults after retirement. That leads them to plan for a best-case scenario that involves independent living and travel. Unfortunately, for some people,...
