Over time, people have recognized the differing needs individuals have when it comes to estate planning. While they may know that no two people will have the exact same estate plan, depending on the person’s livelihood, relationship with loved ones, and even their sex. This is surprising to most individuals.…
People know the inherent benefits of having life insurance. They also know the need to have an estate plan in place. However, not many individuals know that life insurance can be utilized within an estate plan to benefit a person’s loved ones after their passing. For families in Houston, this…
From creating a will to establishing a revocable trust, there are many tools and options available to individuals creating a Houston estate plan. However, many people are unaware of the role insurance can play in an estate plan, especially for small business owners. Many estate planning attorneys will advise their…
Many people have tens of thousands–even hundreds of thousands–of dollars in their IRAs. If you have an asset that large, shouldn’t you devote more effort to planning for its ultimate disposition? A designated beneficiary is named on a life insurance policy or some type of investment account as the individual(s)…
It's never too early to start estate planning. If you already have a family, getting your personal affairs in order is a must. The sooner you start planning, the more prepared you will be for life's unexpected twists and turns. Estate planning is a crucial process for everyone, no matter…
This time of the year is a great time to revisit your estate plan, so you can ensure your legacy is protected for years to come.” Many of us set New Year’s resolutions to improve our quality of life. While it’s often a goal to exercise more or eat more…
Some people think once the children are all grown up, with spouses and children of their own, that they don’t need life insurance. However, it can play a valuable role in protecting the family and transferring wealth. With estate tax exclusions at levels that make them a non-issue for most…
If you pass away without naming beneficiaries in your will, it can create legal entanglements for your heirs. If you decide to purchase a life insurance policy or to put some money into a new deferred annuity contract or Individual Retirement Account (IRA), you need to complete the beneficiary form.…
The unknown about spending in retirement is not just whether it will be higher or lower, but when during the course of retirement, you’ll be spending more or less. If you downsize, housing costs will decrease, but if you travel more, recreational spending will rise. According to a recent article…
Life insurance is a financial tool that can be as powerful during retirement, as it is during your working life. In many cases, it can be a real lifesaver for a surviving spouse. Most of us think about life insurance as income replacement for a breadwinner’s salary. That is certainly…