Divorces are often emotionally difficult and draining—big life changes are occurring, which are stressful enough on their own. But when people are going through this process, often the last thing on their mind is updating their estate plan. However, estate planning nightmares may occur if individuals do not update their…
As their parents get older, many millennials are having to step in and become caregivers. Because of this, many millennials are becoming interested in estate planning themselves—seeing its benefits and their need for the future. For many of them, they are not only taking care of their parents but also…
As the weather starts to get warmer, people begin planning for their summer vacations plans. For those individuals with a vacation, or second, home, these vacation plans might seem easier. There are many benefits to owning a vacation home: always having a place to stay and long-lasting family memories. However,…
When people think about talking with their aging parents about the future, they are often stressed and nervous. How will the conversation go, how will their parents react, and what should they say? Because of this, children often put off this conversation, delaying it for as long as possible. However,…
Creating an estate plan is an important task when thinking about the future. However, there are often mistakes that can be made if these documents are created without the assistance of an estate planning attorney. Some of these most common errors include unintentionally leaving assets to former partners or spouses…
This blog is for informational purposes only. McCulloch & Miller does NOT handle guardianship matters, we are a guardianship avoidance firm. When most people think of guardians or guardianships, they think of children needing someone to protect them when their parents cannot. However, older adults may also require a guardian…
While there are many intricacies to estate planning, married couples may utilize some different strategies when crafting their estate plan. This may include assessing the couple’s tax liability and deciding who to gift their assets and property to if they were both to pass away. And there are many tax…
Most Texans are under the misassumption that estate planning is similar for all people—regardless of socio-economic status, gender, age, and other factors. However, this is not the case. While estate planning is critical for everyone, the type of estate plan and the strategies taken will depend on the person’s unique…
When individuals are crafting their estate plan, they often think about the younger loved ones in their lives—be it children, nieces and nephews, or grandchildren. They may want to leave property, financial assets, or family heirlooms to these minors. However, because minors usually lack the legal capacity to own property,…
Every year, Congress passes new legislation that impacts Americans and their daily lives. One of these aspects is when Congress passes bills in estate planning law—this changes Texan’s strategies for planning for the future and what type of taxes they will have to play. Even for those bills that are…