I recently corresponded with my good friend, Matt Crider, who practices law in California. The system of probate in California is vastly different that here in Texas. In California, transferring a person’s assets through a Will can take 2 years and the court sets the fee. Probate is simply the administration of a deceased person’s …
We all face challenges, that is life. However, sometimes events occur that result in a loved one being hospitalized or finding themselves in need of extensive care or worse, loss of a loved one. These are just some compelling reasons to work on your estate plan now. Making sure that you have an estate plan …
A good friend and client pointed out to me that I had not done a column on lettres of instruction. So, this week, that is the topic I will cover. A comprehensive estate plan often includes writing a Last Will and Testament to transfer your assets to your beneficiaries. Once you’ve passed away, the executor of …
Continue reading “Letters of Instruction in Estate Planning”
When you are married to someone who is significantly older or younger than you, planning for the future can be different for each of you. To make sure you and your loved ones are protected, it’s important to have a detailed financial and estate plan. To make sure your plan works as intended, you should …
Reading Consumer Reports this week, I learned the difference between hot cocoa and hot chocolate. Hot cocoa will generally include much less natural cacao fat—also called cocoa butter—than would hot chocolate. Hot chocolate is therefore a richer sensory experience. Most prefer the richer sensory experience. You can make either at home, but you will have …
It dawned on me the other day that, while I know what a Will is, maybe some of you do not. Therefore, in this brochure I will attempt to explain what a Will is and what the requirements are for one to be valid. A testator is a person who leaves a Will in force …
A well-crafted, up-to-date estate plan will help to protect you and your family. Yet, Forbes reports that nearly half of adults over the age of 55 do not even have a will—let alone a comprehensive estate plan. 55 is not a magic age, as there are many families that start much younger and need estate …
Everybody thinks it won’t happen to them. Or rather, everybody knows it’s going to happen to them eventually, but nobody thinks it’s going to happen tomorrow, or next week, or even next year. The “it” of which I speak is, of course, death. It is this perceived immortality that allows so many people to put …
Continue reading “The Comfort That Comes With Planning Ahead”
As hot as it is this summer, this maybe a good time to reorganize the closets, clean out those old files in the cabinet, and get rid of all those boxes in the garage. Call it “Extended Spring Cleaning” if you will. Anytime someone “Spring Cleans” seems to be a good time to take stock …
The New York Times has an interesting article on the value of an art collection in estate planning. That’s not something most people think about. After all, most people aren’t serious art collectors. Even among those who are, these collections usually exist more for personal satisfaction than financial gain. “Art investors are nearly …
Continue reading “Art and Sentimental Items in Estate Planning”
