It is important to familiarize yourself with different tools and strategies in the world of estate planning. Each person’s estate is different, and each person’s priorities are different when drafting their estate plan. One tool that many individuals often overlook is the living will. On today’s blog, we review the…
As you think through your estate plan, it is important to be thoughtful about your beneficiary designations, especially as they pertain to your life insurance policy, retirement plan, and financial accounts. What’s more, you should consider updating your beneficiary designations regularly, in order to make sure your estate plan reflects…
In Texas, if a person dies without a will or estate plan, that person’s assets are distributed “intestate.” This means that the probate court distributes the person’s estate in accordance with Texas’s pre-set laws and order of inheritance. While we certainly do not recommend leaving things to chance and opting…
One effective tool for property owners that are thinking through their estate plans is joint tenancy with the right of survivorship. While this form of ownership might not be right for everyone, it can certainly be an efficient, effective way to both maintain property and avoid probate down the line.…
When drafting a will or other estate plan in Texas, it is easy to think about including provisions for the distribution of assets and debts. What many people don’t realize, however, is that it is also smart to draft a living will. By definition, a living will is a legal…
In Texas and in other states, long term care is expensive; nursing homes, private care, and health aides are costly, and as Americans age, they face the issue of figuring out how to unlock crucial medical services. In general, there are three main ways to pay for long term care,…
Power of attorney is an important part of any estate plan that individuals tend to overlook. To cover some of the power of attorney basics, today’s blog focuses on the most frequently asked questions on the topic. With specific questions about how power of attorney applies to you or to…
The estate planning process in Texas offers a variety of tools for those looking to avoid probate. One such tool that we encounter often in our practice is the revocable living trust. On today’s blog, we cover the basics of the revocable living trust as well as a couple of…
Drafting an estate plan is an important first step in every person’s estate planning journey, but the work does not end there. Importantly, your estate plan should be up to date as you navigate life’s twists and turns. Today, we answer a common question we receive from our client community:…
There is no “one size fits all” approach to estate planning. Each person brings his or her own set of circumstances, goals, and opportunities to the table. One of the first questions we discuss with our potential clients during a first meeting is whether they would like to move forward…