Succession planning for a large corporate enterprise is about finding the right person to inherit a particular job. In contrast, business succession planning for small businesses is critical. It’s all about the long-term survival of the company you worked so hard to build. What Is Business Succession Planning? Succession planning consists of developing and implementing… Read more »
Pet Planning with Texas Pet Trusts Well-considered estate plans allow you to protect your assets, reach financial goals, and provide for your family members in the future. While considering the various aspects of your trust, you could also have concerns about the wellbeing of your pet when you pass away or if you become incapacitated…. Read more »
Who Needs An Estate Plan? There is often a common belief that estate planning is only for the wealthy because they are the ones that hold substantial assets. However, this is untrue. Everyone should consider asset planning. Even if you do not have valuable art, an expensive home, businesses, or a large Individual Retirement Account… Read more »
Estate Planning for Single Parents As a single parent, you may not often have time to reflect on the consequences of losing the ability to make financial, medical, or family-related decisions on your own. But we owe it to those who depend on us to consider such possibilities. Anyone could be rendered legally incapacitated by… Read more »
How to Set Up a Special Needs Trust in Texas Overview The information in this blog comes courtesy of Dallas special needs trusts attorney, Vermillion Law Firm LLC. It discusses special needs trusts in detail and dispels any misconceptions with regard to this topic. If you have a loved one with any sort of special… Read more »
While an estate plan helps to protect your assets from taxes and creditors and allows you to control how your property will be distributed, a business succession plan can help you make sure that your business will be protected and management will be transferred to the individuals you choose after you retire, or upon your… Read more »
It is never too late to start working on your retirement planning. You shouldn’t make the mistake of relying solely on your Social Security benefits to provide for a comfortable retirement. Instead, be proactive and create your comprehensive retirement plan now so that you can truly enjoy your retirement. Individual Retirement Accounts are an easy… Read more »
Are you considering whether you need a probate lawyer to guide you through an estate administration? Probate lawyers provide invaluable assistance, especially for complicated estates. Probate lawyers are specialists in assisting a Personal Representative through the entire probate process. Since the laws in each state differ when it comes to the rules governing probate proceedings,… Read more »
One of the primary estate planning concerns for most clients is estate taxes. Indeed, for most people, the main goal of their estate plan is to reduce or eliminate Texas estate tax, if at all possible. The federal estate tax rate is 40%, however, there is an estate tax exemption available. While Texas no longer… Read more »
Having an estate plan is important for you and your family because it gives you the chance to decide now how you want your property distributed after your death. It also allows you to engage in incapacity planning, when your family will need the power to act on your behalf when you are unable to… Read more »