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August 2017 Archives

Estate planning for business owners provides many benefits

One of your goals for starting your own business was certainly to make a lot of money for yourself. However, now that you have a family, your goals have likely changed. You may see your son or daughter taking over the company and continuing its success for many more generations. You may see your company becoming a household brand — a name everyone knows — and imagine people telling the story of the company's humble beginnings and forward-thinking founder.

Non-probate property is a critical part of estate planning

Many residents of Houston own some sort of property that is either jointly held or otherwise not intended to pass through the probate process. Joint bank accounts, life insurance, stocks, retirement plans, and the like rarely go to a person's estate after the person dies. Instead, the property will pass to the named beneficiary or to the joint owners of the account.

The transfer on death deed

Relatively recently, the Texas Legislature gave the residents this state an additional option for transferring their home or other real estate without having to write up a will and force their beneficiaries to have to go through the probate process. This was a particularly helpful measure for those Houston, Texas residents who may own their own home but who may not have much more in the way of assets.