According to a recent report, long-term care costs are rising. Genworth, a provider of long-term care insurance, surveyed 2017-2018 inflation rates in long-term care categories and discovered that for some categories, costs were rising at up to two to three times the rate of inflation. And with inflation rising even…
Many people know that planning for retirement and planning for the allocation of their estate are two inevitable tasks. Planning for incapacity, or the inability to perform various legal and medical functions, however, is just a possibility, not an inevitability. However, having a plan in place in the event you…
For investors considering incorporating cryptocurrency into their estate plans, Web3 may already be an area of interest or curiosity—or apprehension. For others, it may be a concept completely unheard of. In either case, Web3—a decentralized form of data sharing not yet in existence—could be popping up more frequently in estate…
Estate plans are crucial to protecting loved ones and ensuring peace of mind. Despite thorough planning, unexpected events can happen that may change the disposition of a person’s assets. An experienced Texas estate planning attorney can work with individuals to plan for the unexpected. What is a Beneficiary under Texas…
Under Texas law, individuals (testators) may create a revocable living trust which allows them to use their assets during their lifetime and subsequently securely transfer them to their designated beneficiaries after the testator’s death. These trusts protect the testator if they become mentally incapacitated. With a revocable living trust, the…
Trusts offer a wide range of estate planning benefits depending on a trust’s structure and its ultimate goals. Of course, one of the primary purposes of estate planning is the preservation and growth of estate assets through the effective use of trusts. However, from the investment management perspective, trusts are…
Crypto assets such as non-fungible tokens (“NFTs”), utility tokens, security tokens, digital wallets, and cryptocurrency funds are digital assets that implement public ledgers over the internet to establish ownership. While these assets can hold significant wealth, it also presents unique Texas estate planning challenges. It is critical to consider these…
In Texas, a revocable living trust, also known as a trust, is a legal entity designed to control one’s assets. Trusts are created when one person, referred to as the trustor, settlor, or grantor transfers a property interest to a trustee to be held for a beneficiary. Trusts creator during…
While retirement and estate planning are distinct areas that contribute to financial stability, there is significant overlap between these considerations. Texas estate planning typically involves creating a system and plan for transferring the creator’s estate. In comparison, retirement planning refers to establishing retirement income and taking steps to accomplish these…
Medicaid is a state and federal program that provides medical coverage and payment to eligible persons. The Texas Medicaid program strives to improve the health of Texas who might otherwise go without medical care and treatment. To qualify for Texas Medicaid, the individual must be a Texas resident, a U.S.…