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When a spouse dies without leaving behind a last will and testament in Texas, the surviving spouse is automatically entitled to receive a portion of the estate regardless of who else survives the decedent. Texas is a community property state. This means that the property owned by married people is divided into two general categories:… Read more »
It’s important to note that while we are talking about capacity and incapacity, you might sometimes come across the term “incompetent.” Though the terms “incompetent” or “incompetency” are still sometimes used, they have largely been replaced with “capacity” and “incapacity.” Nevertheless, the two terms are synonyms and can be used to mean the same thing…. Read more »
What Is a Medicaid Trust from Jennifer Vermillion Medicaid is another government health insurance program. It is only available to people who are financially needy, but it does pay for long-term care. Learn more about what is a medicaid trust in this presentation.
Everyone is aware of the fact that some senior citizens need help with their day-to-day needs, but you may be under the impression that you will not be among them when you attain senior status. In reality, the statistics tell a different tale. There is a very useful website that is maintained by the United… Read more »
If you are concerned about owing back taxes from all of those birthday gifts that you have given over the years, we have some good news for you. There are some gift tax exclusions that you can utilize to give tax-free gifts. One of them is the annual gift tax exclusion. Each calendar year, you can… Read more »
It is often easy for estate planning lawyers to forget that most people have little experience with the law, or estate planning itself. Before you begin your estate planning efforts, it’s valuable to take the time to learn some essential concepts that are involved in estate planning. Here are several key ideas you will want… Read more »
The need for long-term care can be brought on by illness or serious injury. In some situations, the need for assistance with daily activities often leads to long-term care need. Unfortunate for seniors, the cost of long-term care continues to climb in our country. According to some industry surveys, the average cost for a private… Read more »
As of 2013, there were 600,000 new millionaires reported in the United States. This is the fast growth in millionaires in the country since the early 90s. Most of these millionaires are being sourced by oil and technology. As a result, Dallas has become the home of this record-breaking millionaire growth. In fact, the number… Read more »
There are people who fail to act from an estate planning perspective because they harbor certain misconceptions. If you are under the impression that the government will take care of everything in the ideal manner if you pass away without a will or any other estate planning documents, you are sorely mistaken. The condition that… Read more »
A comprehensive, properly constructed estate plan will account for end-of-life issues. While incapacity planning can seem like something that happens to a limited number of people, when you examine the facts, see that a very significant percentage of senior citizens become unable to handle all of their own decision making eventually. Studies have found that… Read more »
