Many individuals think about various accounts listed in their estate plan—financial bank accounts, insurance policies, and others. However, health savings accounts function differently than most other accounts but can be critical. They benefit both the creator of the estate plan and their beneficiaries—the individuals who will receive the assets and…
Articles Posted in Estate Planning
How to Assist Loved Ones with Cognitive Decline in Texas Estate Plans
When a loved one begins to show signs of cognitive decline, it can become difficult to emotionally reconcile who they once were with who they are becoming. They also will need more assistance with many daily activities—this may include their ability to handle their finances. While it may seem like…
How to Modernize a Texas Estate Plan
As time goes on, society, life, and expectations change. One of these major alterations over the past twenty years has been the emergence and accomplishments of technology. While estate planning may not be the most noticeable area in which technology is relevant, technology has dramatically impacted this area and made…
How to Determine if a Particular Asset is Included in a Texas Estate Plan
While Texans often have an overview of the estate planning process, most are unclear of the specifics that constitute an estate plan. Many people will then ask whether a certain asset is included in their estate. However, the answer to this question is highly dependent on the asset itself and…
How Texas Estate Planning Can Contribute to Family Stability
When parents have a home that they would like to one day pass to their children, they may worry about the logistics of this process. It is safe to say that creating an estate plan is the best way to ensure children will one way receive the assets and property…
2022 Tax Updates to Keep in Mind for Texas Estate Plans
A new year often brings new changes. Along with New Year’s resolutions that individuals make to become healthier, improve their lifestyle, and be kinder, others may resolve to create or update their estate plan. Because of this, it is important to know the federal and Texas estate planning laws that…
Can I Include My Family Heirlooms in My Texas Estate Plan?
Many Texans have family valuables or heirlooms that are passed down through generations. Whether it’s an antique ring or a grandmother’s china, some people do not think about including these items in their estate plan. However, putting these valuables in an estate plan can reduce family disagreements and simplify potential…
Common Mistakes Made in Texas Estate Plans
Putting together an estate plan is often a long but well-thought-out process. However, last-minute mistakes can lead to future complications. These last-minute mistakes may be changing a designation in the plan at the last second, taking advice from someone and not consulting with their attorney, or not paying attention to…
How the COVID-19 Pandemic Has Texans Reevaluating Their Estate Plans
The COVID-19 pandemic has impacted every aspect of life. From health concerns to mental well-being, people approach everyday life—and their future—differently than they did prior to March of 2020. Because of these changes, people are considering their goals and how to secure the financial security of loved ones in case…
How Do I Know if My Estate Plan Is Out of Date?
Most Texans do not have an estate plan in place to dictate what should happen to their assets and finances after they pass away. And after they create an estate plan, they tend to not think about it often after that. While having the estate plan itself is commendable and…