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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...
One of the most important aspects of estate planning is finding ways to keep your assets out of probate. This comes with several advantages, including avoiding probate fees and the delay of asset distribution. Transferring ownership of assets to a trust When you...
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...
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...
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...
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...
Wills are an important part of estate planning because they allow you to control what happens after your death. If you die without a will, your beneficiaries may have to go through the probate process to receive your assets. How does probate work? Probate is a legal...
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...
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...
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...