There’s an easy way for select assets to be passed to heirs, with no need for probate. It’s called the beneficiary designation. Your will is a document that is used to pass property and assets to your heirs, but it’s not the only way. Certain accounts or assets have beneficiary…
Out-of-date beneficiary designations could completely undo your entire estate plan. It happens often, since people often neglect these ‘fine print’ details. We hope that you have a will to ensure that your assets are distributed according to your wishes after you pass. However, if you are like most Americans, many…
Their lives were devoted to family and public service, and to each other. The passing of George H.W. Bush and his wife gave many Americans pause to consider their leadership and their devotion. Few were surprised when George H.W. Bush passed less than eight months after Barbara’s death. Their deep…
There’s a saying about people who don’t have an estate plan created. They have a will, it’s just not the one that they want. Decisions are made by the state, and that includes who raises their kids. If you’ve got young children under the age 18, says CNBC in a…
Talk about a train wreck waiting to happen: beneficiary designations from three or four decades ago can really create a problem for your heirs—or those you thought were your heirs. Most people fill out beneficiary forms when they start a new job, open an investment account and open bank accounts.…
The rules for IRA distributions can be complicated. Unforeseen circumstances can make things even more complex. Understand the rules, so the money goes where you want it to. What happens if you designate each of your two adult children as 50/50 beneficiaries of your IRA, and then one of them…
With the number of late in life marriages among older Americans on the rise, it is best to address financial, legal and blended family issues before walking down the aisle. We Americans like to be married. So much so that, according to the U.S. Census Bureau, about a third of…
Most life insurance companies are quite efficient. However, you will need the right documents. One of the basic tasks that follow the loss of a spouse or family member is figuring out what life insurance policies were in place and contacting the insurance company or companies to find out how…
Unless you really want to give your ex the proceeds of your life insurance or 401(k), it is best to take the time to do this one task. If you haven’t looked at the paperwork for your life insurance policies, bank accounts, retirement accounts, investment accounts and any other asset…
There are a number of tasks that need to be done after a loved one passes. A Houston estate planning attorney can help make these tasks easier. Most people don’t know that there is a time limit on certain tasks that need occur after someone passes away. According to WXYZ…