Losing a loved one is often stressful enough without having to tend to their final affairs. Even though death often brings families together, closing out the final estate of the dearly departed can create a lot of tension among beneficiaries. Siblings, in particular,...
Year: 2014
It is wise to create three important estate planning documents
Between brainstorming this week’s dinner meals and keeping up with business clients or work tasks, people in Texas may not feel that they have enough time to put together estate plans. In addition, some individuals feel that estate planning is unnecessary since...
Limiting conflict among heirs with strategic estate planning
As more and more baby boomers begin to inherit the estates of their parents, estate planning concerns are becoming more prominent for Texas residents and the rest of the nation. Indeed, according to a study that looked at the passing of wealth from generation to...
One estate planning mistake all Texans need to avoid
Texas residents in the process of putting together a will may wish to consider the importance of appropriately filling out the beneficiary paperwork on their insurance policies and various investment and banking accounts. Indeed, many individuals make one fatal estate...
Estate tax planning: Does Congress want to kill the death tax?
A common component of the estate planning process is to try to limit an individual’s estate tax exposure. Estate tax planning strategies are typically employed by those of higher wealth and income brackets, depending on the state in which the person resides....
Estate planning: Avoiding family disputes following one’s death
These days, the complexity of divorced and split families makes arguments over the assets in a deceased family member’s estate more likely. Estate disputes following one's death is an outcome that most estate planners will want to try to avoid at all costs....
No luck identifying beneficiaries of multi-millionaire’s estate
A 97-year-old millionaire who died in 2012 did not leave behind any kind of will and testimony. As such, the fate of his $40 million estate continues to be in question. So far, authorities have failed at identifying beneficiaries who could be the legal heirs of the...
Is one ever too young for estate planning?
Many individuals may be under the common misconception that estate planning and wills are only for older Texas residents. However, age should not be considered a determining factor when it comes to deciding if it is time to draft a will or begin one's estate planning...
Digital assets and Texas beneficiaries
Texas residents may want to consider updating their estate plans with information pertaining to their digital assets. In the internet age, where people maintain vast amounts of information on the web, it can be very helpful to heirs and beneficiaries if preparations...
Digital assets shouldn’t be overlooked in Texas estate planning
We have previously written on the importance of digital assets in estate planning ("Texas estate planning should include digital life," June 12, 2013). With digital media such a norm these days, this is still a crucial step in the estate planning process. This is true...