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…
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…
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…
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…
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…
When individuals think about creating a trust, they often envision the protection of assets that comes along with such a legal entity. However, they may not consider the lawsuits that may be brought in connection with managing the trust. Being the trustee of a trust is a major responsibility, but…
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…
When people think about beginning the estate planning process, they often think about creating a will and power of attorney documents. They do not often consider how a Roth IRA can—and should—be incorporated into the estate planning process. Roth IRAs are a powerful tool that can benefit individuals as they…
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…
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…