Building up enough savings to retire comfortably is important, but it is not the only factor that people in Texas should take into account. Making sure that one also has the correct estate planning documents is also essential. This includes completing...
Estate Planning
Why you should include your funeral in your estate plan
Thinking about death is not exactly high up on anyone’s list of fun things to do. However, ignoring the inevitable ultimately places an even greater emotional and financial burden on loved ones. Planning for things like funeral expenses, lost income and more is key to...
3 methods for revoking a will
There is no avoiding change in life. Whether that means losing a job, getting married or having kids, what is most important is how one navigates these changes. In terms of estate planning this usually means updating a will or replacing an old one. Properly revoking...
Will your estate plan include your grandchildren?
If you have grandchildren, you know what a joy they can be. Because you may have been stressed raising your own children, grandchildren give you the chance to relax and enjoy watching them grow. You may also wish to do something special for your grandchildren beyond...
What’s considered as a valid will in Texas?
Each state's laws dictate what's considered to be a valid will. In Texas, Probate Code §57, et seq. outlines how a will must be executed for it to be upheld as valid in a court of law.Texas is much like any other state in that the person drafting the will must be at...
Could a smaller inheritance limit conflict?
You have enough money and assets to set your children up for a long time. However, are you worried about the potential damage that inheritance could do? Would you actually limit conflict by reducing what you leave to them?For instance, perhaps you have a home that is...
It’s all right to c friends, not family, as guardians of the kids
If you are a parent, one thing that you need to do is designate a guardian for your children in the event that you and their other parent pass away. No one wants to contemplate their own mortality, but none of us have a lease on life.If you don't take the estate...
Don’t overlook the importance of health care directives
Do you have a document in place directing how you want your health care to be managed if you're unable to speak for yourself? Known as a health care directive or medical power of attorney, this important document helps explain to the powers that be exactly what you do...
How do I set up a trust for my children?
If you know the basics of estate planning, you will be aware that the sole use of a will is often not the most efficient way to distribute assets at the end of your lifetime. Assets mentioned in a will shall go through the probate process, which is not the most cost...
When to update your estate plan
Making an estate plan is a good first step, but it is just that: a first step. Don't think that you're done for good. You still need to update that plan frequently to make sure that it's ready if your family ever needs it.A way to begin is to pick a certain number of...