For individuals who own a company, passing the business to another individual may not be at the forefront of their mind; but it should be. Succession planning involves creating a plan for another individual to either own or run the business after the person retires, becomes disabled, or dies. This…
The firearm industry is heavily regulated, and a mistake during the ownership transfer of a firearm can become a felony. A gun trust can prevent these errors from occurring. But because gun trusts are not well-known, many people have questions about what a gun trust really is, and if they…
There are unique challenges that families with adopted children face; however, most of these families do not know that estate planning is one of them. A Houston estate plan is essential for all people, but especially for families with adopted children because of the different laws they are subjected to.…
At the beginning of every new year people make resolutions they hope to accomplish over the next twelve months. While the most common resolutions involve things such as exercising more and being kinder to others, resolutions about estate planning should also be at the top of this list. Because there…
Thinking about death can be extremely upsetting. People do not want to imagine their loved ones coping without them or having to handle their affairs after they have passed. However, some of these worries can be avoided. Older Texans can help their heirs before they die by keeping their affairs…
When people start to think about the Houston estate planning process, they often think about doing it themselves. Either because of cost or other reasons, they believe this to be a better option than hiring an estate planning attorney. These estate plans, nicknamed DIY estate plans, are often riddled with…
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…
When a person dies with a legally valid will, their property is distributed according to their wishes as outlined in the will. However, when an individual dies without a will, the estate is distributed to the decedent’s heirs according to Texas intestacy laws. Regardless of whether there is a will…
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…