Estate Planning

Estate Planning Challenges for Houston Blended Families

Published on: November 4, 2013 | By McCulloch & Miller, PLLC

Americans

are increasingly cobbling together new families out of earlier broken marriages

… Effective estate planning for these modern families, made up of past and

Debts And Death – What You Should Know about Death in Houston

Published on: November 1, 2013 | By McCulloch & Miller, PLLC

Coping with the death of a loved one is difficult enough without the added pressure of creditors calling you to collect on the deceased person’s credit card debt. But can a bank collect a credit card debt owed by your deceased parent or spouse?

By and large, we talk about probate as an unfortunate process. True, probate can put some undo stress on an already stressful family situation, even when there is no disagreement regarding how assets of the decedent are to be distributed. That said, probate can be utterly necessary and even useful when there are debts in the estate picture.

So, how do you handle debts after death? It is a practical question, after all. Few of us leave this life without something lingering in our accounts payable. Unfortunately, too many families do not know which debts live on after their loved ones are gone.

Using Trust Funds To Purchase Home in Houston

Published on: October 31, 2013 | By McCulloch & Miller, PLLC

As interest rates rise, more children of high-net-worth families are likely to tap into their trust funds to buy a home.

Buying a home means chaining yourself to a mortgage and the financial institution holding it. This arrangement is oftentimes considered a necessary evil of adulthood. But then again, when there are trust funds available to help, buying a home might not be such a necessary evil at all.

Under the right circumstances, trusts may be tapped to assist you and your loved ones, even when it comes to bypassing the bankers and buying a home. This is more and more useful as interest rates rise.