Most individuals have heard of a power of attorney but are unaware of what a power of attorney actually is. In short, a power of attorney gives another person the ability to act on another’s behalf, either for a temporary or permanent amount of time. There are different types of…
Individuals are normally told not to share their passwords with anyone for security purposes; however, there is one important exception. Individuals should make sure they have shared their passwords with a loved one, in case of their death. Doing so can be critical, as digital assets have become more and…
Despite the importance of having a Houston estate plan, over 60% of people do not have a will. Those without a will often cite several reasons, including that they do not believe a will is necessary, and the cost of creating a will is too high. These misconceptions stop people…
Creating a Houston estate plan is a great first step in ensuring a person’s assets and wishes are managed after their passing. However, without frequently reviewing the estate plan and updating it as needed, the process will not go as smoothly as anticipated. Many people are unaware of when an…
Social Security benefits can help older individuals in Texas enjoy their retirement without fear of becoming destitute. However, when people claim their benefits at the wrong time, it may leave them cash-strapped. When someone reaches the full retirement age, they can receive their full monthly social security benefits; however, many…
In Texas, a Last Will and Testament, commonly referred to as a will, allows a person to designate and gift property and other assets to a beneficiary. The beneficiary may be an immediate family member, relative, friend, or other charity or institution. There is a mistaken belief that wills are…
Many individuals – especially those with children – do not want to think about what would happen to their family if they passed away. Although many people have life insurance to cover the cost of raising a child in the event of their untimely death, they do not think about…
In Houston and throughout Texas, living trusts allow property owners to use their assets during their lifetime while ensuring that their assets are securely transferred to their beneficiaries. The legal document is similar to a will in that it allows financial assets and personal property to be passed on to…
On November 7, 2020, major news networks declared former Vice President Joe Biden the winner of the 2020 Presidential Election. With Biden’s election, there is likely to be a shift in many policies, from foreign diplomacy to tax incentives. One area that may soon be altered is an increase in…
With the recent election of Past Vice-President, Joe Biden, individuals are curious about how policies will differ after President-Elect Biden’s inauguration. As Biden has mentioned raising estate taxes and changing the taxation of capital assets upon death, many wonder if they should change their Houston estate plan now. While it…