Craig W. Watson, Attorney at Law Serving Sherman And Surrounding Texas
Estate Planning For Peace Of Mind
A will is commonly associated with the distribution of money and property. While leaving assets to loved ones is its primary function, a will can serve other important purposes. From naming guardians to outlining personal wishes, it offers a way to make thoughtful...
While drafting an estate plan, one important thing to keep in mind is the necessity to make medical decisions. Many people begin by splitting up their assets, choosing beneficiaries and making other decisions about how their estate should be administered. But your...
There are many different types of trusts you can use, depending on what you’re trying to accomplish. A special needs trust, for instance, can help a beneficiary qualify for benefits while still receiving an inheritance. A spendthrift trust can protect assets if you...
Thinking about the future is something that most adults often do. Those thoughts are often limited to what they want to do while they’re still living; however, thinking beyond that is a good idea. All adults should think about getting their estate plan together so...
Some people assume that a person’s debts vanish if the account holder passes away, but that’s not how it works. Instead, it’s possible that the estate of the decedent will have to pay for the debts. The estate administrator is responsible for handling those payments. ...
A POD account, or a payable-on-death account, is in many ways like any other financial account. You set it up at your bank, and it can hold funds that you can transfer in and out as you like. The difference is that this account has a beneficiary designation. You are...
For many people, pets are more than just animals -- they’re beloved members of the family. But what happens if something unexpected occurs and your pets are left all alone? Without a proper will or trust in place, your beloved companions may end up in the hands of...
An estate plan can be beneficial for anyone, from a young parent to an elderly retiree. These estate plans can help to divide assets among beneficiaries, make medical decisions in advance, establish guardianship for minor children and much more. However, most people...
It is possible that your home is one of your most valuable assets. As a result, it will likely be a primary concern for you as you engage in estate planning. Deciding what will happen to your home after your passing requires careful planning to better ensure that your...
Some of the most important documents in your estate plan are intended to be used while you’re still alive. One of these in Texas is called the Medical Power of Attorney Designation of Health Care Agent (MPOA). This is the document where you name the person you’re...
