Understanding estate planning for blended families in Texas
A blended family will bring unique challenges to your estate plans. Given that Texas doesn't have probate laws that dictate how your assets should be handled or distributed if you have stepchildren or remarried, it is in your best interest and that of your family to...
Tips for creating trust funds for grandchildren
If you are a grandparent living in Texas and you want to leave something to your grandchildren in your estate plan, you might want to consider creating trust funds for them. There are a few advantages to doing this, including the ability to specify when distributions...
How a will differs from a trust
If you live in Texas and you are creating an estate plan, you might wonder about the difference in a will and a trust and whether you need both or just one of them. It is important to understand the function of each so that you can make an informed decision. What does...
Essential elements for your estate planning session
Creating your estate plan in Texas doesn't need to be a hassle. This is a task that some can find tedious and contentious. But if you go through it with foresight and patience, it can be an easy and efficient experience. There are certain elements that are absolutely...
Estate planning for those with high net worth
Devising a thorough estate plan that is valid under Texas law could cover many responsibilities and tasks. It is often suggested that even people of meager means should have an estate plan. Those with estates comprised of significant assets and personal net worth may...
Getting your loved one’s affairs in order
As Texas residents get older, it’s important for them to ensure that their affairs are in order. While this conjures up thoughts of their eventual death, it’s a necessary step to protect their estate and loved ones. Here is what you should do. Create a will If you...
What makes a life estate?
Through a life estate, you can transfer property to someone who shares it with you now. Land and any of the developments on that land are legal assets to use for a life estate deed. If you own any real property, you risk public blowback should you transfer that...
When should you look at your estate plan?
If assets such as a Texas home remain in your estate when you pass, they will be subject to probate if you have a will. If you don't have a will, they will likely be distributed per the state's intestacy laws. It's worth noting that intestacy laws might take effect if...
How to talk to your parents about estate planning
You may be entitled to inherit a portion of any assets in a parent's Texas estate at the time of his or her death. Of course, it's also possible that your mother or father would rather pass those assets on to a charity. To avoid confusion or hurt feelings, you are...
The difference between wills and trusts in estate planning
Planning for the future is something that many people in Texas put off until it's too late. Estate planning via wills and trusts is important to take care of, especially if you want to make sure your family will be provided for when you're gone. Although will and...