Disinheriting someone can get a bit tricky. If a parent decides to cut one of their children out of the will, for example, they may simply leave that child out. They do not mention them at all and instead split their assets between other beneficiaries. But this can...
Adults should have an estate plan in place to ensure their wishes are known and legally enforceable. Creating this plan is straightforward for many adults; however, that’s not necessarily the case for those who have a blended family. One of the challenges that comes...
Creating an estate plan often begins with assets. People make an inventory of everything that they own and their financial holdings, such as bank accounts and investment portfolios. They then determine exactly how they want to split these assets up among family...
Many people assume that all assets must pass through probate after someone dies. In reality, a large portion of an estate may transfer directly to beneficiaries without court involvement. These assets are known as nonprobate property. Texas law recognizes several...
Probate can be a time-consuming and public court process that many families prefer to avoid. When a loved one passes away, assets often become tied up in court supervision, creating delays, expenses and unnecessary stress at an already difficult time. With the right...
Unmarried couples can face unique challenges when planning for the future. State law does not provide the same protections for unwed partners. This makes it important to create documents that reflect each person’s wishes. A thoughtful plan helps reduce confusion and...
Writing a will can be one of the most important steps you can take to protect your loved ones and ensure your wishes are honored. However, the process involves more than just paperwork and legal requirements. It can stir difficult emotions and make you want to put it...
You create an estate plan to direct your assets to people you trust and pass on resources that may support them over time. You name beneficiaries with a clear picture of who will receive what and why. But those plans rely on a basic assumption: that your beneficiaries...
Texas is considered a “tax-friendly” state for both individuals (particularly retirees) and businesses. In addition to not having a state income tax, it also has no estate or inheritance tax. Last November, the voters of Texas approved a ballot proposition (Prop 8)...
Wills are documents that outline your final wishes, serving as critical parts of the estate planning process. They determine what happens to your probate assets, property and personal belongings after you pass away. By writing clear instructions on how to handle your...