Estate Planning
How Often Should I Update My Estate Plan?
It is recommended that you review your estate plan with your estate planning attorney each three to five years. Laws change often, and it is important to ensure that your end-of-life documents remain legally valid. Additionally, you should review your estate plan, including your will any time a life-changing event occurs. Which Life Events Warrant…
Read MoreIs A Revocable Transfer On Death Deed Valid In Texas?
A law recently took effect in Texas allowing property owners to record what is called a revocable transfer on death deed. This type of deed names a particular beneficiary, who will automatically own the property after the original owner dies. How Does A Revocable Transfer On Death Deed Work? A revocable transfer on death deed,…
Read MoreWhat Happens to My Property if I Die Without a Will?
The State of Texas Decides to Whom and How You Would Have Wanted to Give Away Your Property. If you die without a will or a trust, you might think you do not have an estate plan. However, everyone in Texas has an estate plan. It has been established by the State of Texas for…
Read MoreWhat Prompts Someone to Set Up an Estate Plan?
Many times, people come to us after they have had to deal with a death in their family. Some people were surprised how smoothly things went because their loved one had a trust that avoided probate. Those people immediately see the benefit of setting up a trust for that purpose and have contacted us to…
Read MoreWhat is a Will?
A will is a legal document outlining who a person’s assets will be distributed after their death. While recipients may include a spouse or family member, a will may also name a church or other organization to inherit money or property. A will should also specify a guardian for any minor children. When referring to…
Read MoreShould Everyone Have an Estate Plan?
This is a common question that many people ask, and our answer is consistent—yes. The future is uncertain, for everyone. It is impossible to predict when you might have a serious emergency, develop an illness, become completely incapacitated, or even die. Whether you are young, or old, 100% healthy, or currently suffering from an illness,…
Read MoreWhen Should I Review My Estate Plan?
An estate plan needs cultivation. In much the same way that a plant needs care, water, and sun, an estate plan needs regular maintenance. As you age, form new personal relationships, end relationships, have children, divorce, marry, etc., you’ll need to tend to your estate plan to make sure that it is up to date…
Read MoreWhat is Estate Planning?
Planning for the Future Most people think that estate planning is just planning for when you die. While that is an important part of estate planning, there is a lot more to it. Some of the most difficult situations arise when a person becomes incapacitated. This could happen as a result of a car accident,…
Read MoreDo I Need a New Durable Power of Attorney?
Recent changes in the law in 2017 make it advisable to update your financial power of attorney. The Texas legislature has given estate planners additional tools that were not available previously. The new statutes governing powers of attorney gives additional estate planning power to the agent. The law now expressly states that the principal (you)…
Read MoreWant Some Free Money? Check Out the State of Texas Unclaimed Property Program Website.
At a recent estate planning seminar, we had a speaker from the Texas Comptroller’s Office on the State of Texas Unclaimed Property Program. The speaker told our room of approximately 300 attorneys that at least half of us would find unclaimed property under our name. We doubted it, but we all got on online and…well…
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