As a Texas business owner, having a plan in place for the future of your business, including what will happen if you're no longer able to run the company, is vital for management, staff and customers. Developing a succession plan can ensure that your business...
Estate Planning
The Texas HHS Guardianship Services Program
When a Texas resident becomes incapacitated because of age, injury, or disease, the court may appoint an individual to protect and take care of them. The person providing care is called a guardian, and the person being cared for is called a ward. Judges prefer to...
Beneficiary mistakes to avoid during estate planning
Your beneficiaries receive benefits from assets such as life insurance and retirement accounts. You’re responsible for naming your beneficiaries and providing the correct information. Here are some common mistakes that Texas residents should avoid regarding...
Avoid these estate planning mistakes
Not having an estate plan is one of the biggest estate planning mistakes you can make. By failing to plan, you could be leaving your loved ones with a huge financial burden and potential legal problems regarding your Texas estate. However, there are a number of estate...
Everything you need to know about powers of attorney
Estate planning is an important process that everyone should undertake in Texas. Part of estate planning is appointing a power of attorney. Unfortunately, many people do not fully understand the role of a power of attorney. If you're one of them, here's what you need...
Don’t make these business succession planning errors
One of the things you have to plan for your business is who will succeed you. Not having a valid succession plan in place is one of the biggest mistakes made by Texas business owners. This is an error that can lead to consequences that may have a serious effect on...
Achieving Medicaid eligibility by liquidating assets
When Medicaid is granted in a Texas guardianship, there might still be unique limits imposed. This federal and state program exists to overcome the income challenges of Americans who need ongoing medical aid. The program is chiefly funded by the U.S. government, so...
What not to put in your will
A will could be pivotal in ensuring a fair transfer of your estate when you die. There are, however, a few things that have no place in a will. Understanding the scope of your will gives you an advantage now as you're estate planning. Public courts in Texas will honor...
Estate protection options
When it comes to estate planning, it's important to know how to keep your assets protected and ensure that valuable items or cash go to the intended parties. If you're a Texas resident looking to make detailed plans for your estate, here are some ways to protect your...
Is your estate planning out of date?
Texas residents should not expect to undergo initial estate planning and then forget about it. Several situations could indicate that you need to update your estate plan sooner rather than later. Tax changes When federal or state laws governing inheritance and taxes...