Planning for retirement can already seem intimidating: it can be seen as time-consuming, stressful, and expensive. For parents of special needs children or adults within their care, retirement planning may seem impossible. Retirement planning usually involves analyzing income, expected income, and assets and planning those inflows against expected outflows, or…
Many of the same tools used in ordinary estate planning apply to high-net-worth individuals. Estate planners of all income and asset levels should consider utilizing a last will and testament, guardianship designations, trusts, life insurance policies, planning for incapacity, and various powers of attorney documents. In addition, the complexity and…
The short answer: Yes. Nearly everyone needs an estate plan, regardless of income level or family structure. Even for young people without substantial assets or children, medical and financial powers of attorney, among other estate planning tools, can help protect your wishes in the event of incapacitation or emergency. For…
In an ideal world, parents remain connected to all of their children and feel confident and comfortable equally dividing their assets among them. Unfortunately, real life is not always ideal—relationships can become strained, or parents may have other compelling reasons for giving their children varying amounts in their wills. A…
In a perfect world, every individual would have a clearly defined estate plan and a will before they pass on. Unfortunately, life circumstances and the unexpected can get in the way of perfect planning. In Texas, state intestate succession laws define the way your assets will go to your closest…
It’s no question that estate planning can seem daunting. Beyond your last will and testament, there are a bevy of other documents that may seem unnecessary, duplicative, or just plain overwhelming. You may think making beneficiary designations, or forms that allow you to transfer assets directly to individuals without dealing…
For many business owners, the future of your business and life’s work is at the forefront of your mind. Business succession planning should also be at the forefront of your estate planning. Beyond the complexities of regular estate planning, business succession planning must carefully consider unique tax implications and asset…
Individuals thinking about estate planning may already be considering their spouses, children, and even important charities and foundations that are meaningful to them. It is important for planners to also consider implementing estate plans for their beloved cats and dogs. While you cannot leave money to your pet in your…
End-of-life planning is an emotionally challenging process. Without the aid of an experienced estate planning attorney, you may fall into some common pitfalls without realizing their harm. Thinking you don’t have an estate Some think only the very wealthy have an estate, but this is untrue. Everyone has an estate,…
If you’re considering your end-of-life plans and want to ensure your family’s safety and comfort, you may already know and understand the need for a last will and testament. Understanding what happens after the will is drafted, however, is crucial to best position your estate for a seamless and hassle-free…