Inheriting wealth is a major event that, if not managed correctly, can lead to financial missteps and potential loss. Individuals who receive an inheritance often face challenges in managing their newfound wealth due to a lack of experience, existing debt issues, or tax complications. However, proactive estate planning can help mitigate these problems, ensuring …
In the past few weeks I have addressed the importance of estate planning for couples, married and not married. This week, I will touch on the importance of estate planning for single folks. Making important decisions for yourself and ensuring the proper care of your assets after your passing can be overwhelming as a single …
While the simplicity of a Will driven estate plan in Texas is most favored, some situations dictate using a trust instead. Navigating the different trust options in the pursuit of crafting an optimal estate plan can be overwhelming. If you are worried that things might go wrong, you can reach out to us and we …
Continue reading “Trust Options, What’s right for your needs?”
Unmarried couples don’t receive the same legal protections as married couples when it comes to inheritance and taxes. That’s why it’s crucial for unmarried couples to engage in financial and estate planning. Without proper planning, their partner may not receive anything if they pass away. Here are several reasons why you should consider a …
Many clients have asked me how to insure that a bank account or investment account passes to a particular person (spouse or child) without having to wait until a Will is probated. First, I would like to remind you that the amount of time its takes to probate an estate in Texas depends to a …
Continue reading “Joint Accounts with Right of Survivorship”
Don’t allow ongoing political and financial uncertainties to hold you back from providing tax-free gifts that can benefit your family. Despite the speculation surrounding these matters, you still have the opportunity to make tax-free annual exclusion, medical-payment, and educational gifts. By taking advantage of these gift options, you can support and contribute to the …
It’s never too early to start preparing for the inevitable – that one day your parents will become too old and dependent on your support. And one of the toughest realities that you will need to face is financing your parents’ care in their old age. Here’s a short list of strategies to help …
Occasionally, I am approached by someone who wants to convey property by an Assumption. An Assumption is a means by which a Buyer may assume or take over the mortgage of the Seller. The parties will exchange an Assumption Deed which provides the Buyer title to the property with the requirement to make the Seller’s …
Financial abuse and fraud targeting older individuals cost anywhere from $2.6 billion to $36.5 billion annually, as estimated by the National Council on Aging. This is a sad reflection of our society. To protect yourself from financial exploitation, it is best to create a comprehensive estate and financial plan that will ensure your protection …
Continue reading “The Advantage of Strong Financial and Estate Planning Advisors”
Recently, I met with clients that had discovered their property line was not where they thought. This is a common dispute between property owners and underscores the importance of having a survey prepared when buying property. The title company will not cover encroachments and discrepancies in property lines without a current survey. My discussion with …
