Should each child be left an equal inheritance?
When you're part of a big Texas family, making every child feel equally loved is probably important to you. While you're creating your estate plan, it might make sense for you to leave each child an equal portion of your estate. However, dividing your estate between...
How a Medicaid trust can help secure long-term nursing care
Many middle-class Texas residents face a conundrum as they get older: they don't have enough money to pay for long-term care insurance, but they have too much income to qualify for Medicaid. How will they pay for long-term care expenses? One way to do it is to create...
Pros and cons of an irrevocable life insurance trust in Texas
In Texas, you have the right to transfer your assets to your family members or beneficiaries when you pass away. However, the state and the federal governments will impose taxes on the property you leave behind, ultimately reducing your beneficiaries' amount. Take a...
What is the right age to prepare an estate plan?
Estate planning can be a difficult topic, not because the issues that are discussed during the process are challenging, but because few people want to contemplate the ends of their lives. Estate planning provides instructions about a person's wishes for the...
Making an estate plan for incapacitation
It's important to write down your wishes in the event you suddenly become incapacitated due to injury or illness. Incapacity plans are not one document but a mixture of several strategies. You can expect incapacity plans to contain several components in Texas. What is...
Estate planning for digital assets
Some Texas residents who are planning their estates fail to consider their digital assets. However, over the past 25 years, most people have established substantial online footprints, consisting of things like blog posts, social media posts, business documents stored...
How we can help with estate planning
If there is one silver lining from the craziness of the past year, it is that estate planning has become a hot topic. Indeed, every week, our readers have likely seen a news story on estate planning. This is why, during these trying time, so many people are trying to...
How special needs trust can help disabled family members
Many families in and around Sherman, Texas, have one or more members who are considered to have what have come to be called “special needs.” Generally speaking, a person with a special need is someone who suffers from one or more disabilities that limits their ability...
Three facts to know about durable powers of attorney in Texas
Estate planning may seem like a complex task to take on but ensuring that one’s end-of-life estate is properly managed is an important job to complete. That is because it can provide an estate planner with both peace of mind and financial security when the know their...
When should I revise my estate plan?
Creating an estate plan is just the first step to ensuring beneficiaries are taken care of when one is no longer around. However, having an outdated estate plan is just as bad as having no estate plan in place, as beneficiaries may have been left out or relationships...
