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January 2018 Archives

Avoiding updating estate plan documents is a mistake

A concern that might not be at the forefront for Texans who have already completed an estate plan is ensuring that it is up to date. However, it is important to think about personal and legal changes that might make it necessary to alter the document to account for them. One issue that is making it wise for just about everyone who has taken the initiative by drafting estate planning documents is the changes to the tax code. Having legal advice when deciding if and how the tax changes will influence an estate plan is imperative.

Legal help with "ancillary" parts of estate planning

Even Texans who are drafting estate planning documents and taking the necessary steps to protect their assets and their heirs need to cover all the bases. Part of that is knowing about "ancillary" parts of the estate plan. These factors might not come to the forefront when drafting estate planning documents, but they can be as, if not more, important than the basics like wills, trusts and other documents.

Drafting estate planning documents with a notable art collection

Texans who are thinking about their estate planning needs will frequently focus on the basics, such as asset distribution and basic property matters. However, if it is a person who has accrued wealth and used some of that wealth to collect items, such as art, this enters the realm of complicated estate planning. For those who have collections whose value can be confusion to the uninitiated and might fluctuate based on markets and desirability, it is wise to have strategies to account for these properties. With art, this is particularly important.

Is bad information stopping you from signing a power of attorney?

As you grow older, you may find it becoming more difficult to do things for yourself. Perhaps you first noticed it in the mornings when getting out of bed and walking down the stairs took longer because your knees and ankles hurt. With each holiday or annual occasion that rolls around, you are less able to participate as you used to. Now you are beginning to wonder if you will lose the ability to manage the necessary tasks of your daily life.

Strategies to neatly organize finances and craft an estate plan

Texans who are thinking about starting the new year by cobbling together their estate planning documents should make certain they take the necessary steps to ensure that its strategies suit their needs. One method that might sound unnerving is known as "death cleaning." The truth is that death cleaning is a wise maneuver to make certain that the person's estate is free of complications and is simplified as much as possible. This is a beneficial decision for people young and old. Knowing what to do to make it a reality is crucial.