Estate planning involves more than deciding how people want their assets and property distributed upon their deaths. As important as including these types of provisions, people should also include advance care directives in their estate planning. Through advance care...
Why are retirees upsizing their homes?
As you reach retirement age, it is typical to start to downsize, get rid of what you do not need and focus on your estate plan. While most retirees choose a smaller, more manageable estate for retirement, the began to shift in recent years. According to CNBC, a study...
Which estate planning myths should you avoid believing?
While most people do not want to think about their estate plan, it is still an important document that guides your loved ones if something happens to you in the future. If you want an estate plan that protects your assets and your family's rights to their inheritance,...
3 tips for passing on your digital assets
You likely use technology and the internet daily to work, for recreation or for social purposes. Your reliance on the internet may also have increased over the past few years. According to the Pew Research Center, in the U.S., approximately 93% of adults use the...
Should I get a simple will?
The majority of Americans have no estate plan in place. Many labor under the idea that estate planning is something that you only need to think about if you are nearing retirement and have a lot in the way of assets. This is not true. Nobody likes to think about dying...
The importance of having a power of attorney for healthcare
When Texans consider all that is involved in estate planning, one of the most important decisions they can make is whether or not to include a power of attorney for healthcare. Arguably the most important part of planning your estate will involve choosing your spouse,...
What bypasses probate?
Probate is a court process that commences after you die. It ensures your debts get paid, and your property goes to those you named in your will. Waiting for the court to allow the distribution of your estate may create an undue financial strain on your heirs. However,...
Why are powers of attorney important?
Regardless of your age and health, you may – from time to time – think about who will handle your affairs if you can no longer do so yourself. While you may have an individual or two in mind, it is important that you appoint them to their roles in writing. To do so,...
Understanding the benefits of a special needs trust
Many families in Denton and the Dallas-Fort Worth Metroplex have family members with a variety of special needs. As both parents and the child age, planning for the child’s financial needs becomes a very critical issue. Over the last 20 years, lawyers working with the...
What is a Qualified Personal Residence Trust?
For wealthy individuals or those with large real estate holdings, estate planning can be complicated. After all, we want to protect the value of what we pass on, and we do not want our beneficiaries saddled with unexpected, complicated and expensive tax burdens after...
