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June 2016 Archives

Naming beneficiaries in estate plans is important for singles

One huge misconception about creating an estate plan in Texas is that only people who are married really need one. The truth is that an estate plan, in which beneficiaries are named, is equally as important for single people. This is because an estate plan is designed to protect one's assets in the event of one's death, as well as to protect one's wishes in the event of incapacitation.

Estate planning involves starting a discussion, gathering info

Estate planning is something that people in Texas, including business people, often put off until they absolutely have to do it. Unfortunately, sometimes they wait until it is too late to do estate planning. For business people, this means a business might not make it to the family's next generation.

Essential documents in Texas estate planning

The most challenging part of deciding how assets will be distributed following one's death is trying to understand the documentation and terminology related to estate planning. Unfortunately, a lack of understanding can easily cause a person and his or her family to be unprepared in the event of the person's incapacitation or death. A few tips may help people in Texas to complete comprehensive estate planning effectively.

Special-needs trusts designed to help parents of disabled

People in Texas usually think about wills when they hear about the need to do estate planning. However, trusts are also important components of estate plans. One type of trust that is particularly valuable for parents whose children will have lifelong special needs is the special-needs trust.

Estate planning updates necessary during major life changes

When it comes to juggling all of a person's modern-day responsibilities in Texas, making plans that affect one's final wishes often end up low on the priority list. Part of the reason for this is because people prefer not to discuss the possibility of death. Another reason is that people consider it to be too complicated of a process. With legal guidance, however, people can complete estate planning and also keep their plans updated.