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…
Estate planning is a critical process designed to designate and distribute a person’s assets upon their death, among other things. A Houston estate plan documents a person’s wishes if they become incapacitated or die and specifies who will effectuate the deceased’s wishes. These plans usually involve drafting wills and trusts,…
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…
Creating a Houston estate plan is critical to ensure an individual’s wishes are met after their passing. However, when estate plans include mistakes or are not done properly, they can cause major, costly headaches for loved ones. Below are some common pitfalls that individuals should avoid when drafting or updating…
Texas Veterans Benefits: Who Qualifies? Under the Department of Veterans Affairs (VA) current framework, only individuals deemed a “veteran”, may be eligible for VA benefits. Assuming the member met the active service requirement, the VA relies on the individual’s character of service designation (COD) to determine whether a former service…
During these unprecedented times, Houston residents have many questions about a potential COVID vaccine and whether it will be covered by Medicare. Medicare is a national health insurance program that provides insurance for Americans 65 or older and some younger individuals with a disability. Similarly, Medicare Advantage is a type…
Over 70 million Americans receive Social Security and Supplemental Security Income, or SSI, benefits. Therefore, the changes that happen to Social Security – like a cost of living adjustment – are critical for a significant portion of the population. However, many individuals do not know the specifics about social security…