What Is a Family Wealth Trust?

There are many different things to take into consideration when you are devising your estate plan. What is important for one person may not be important for the next, so you should understand the facts and act in a fully informed manner. Personalized attention is of great value, because your plan should be custom crafted… Read more »

What Is a Qualified Personal Residence Trust?

Taxation is a very big factor to take into consideration when you are preparing your assets for future distribution to your heirs. There are taxes on asset transfers in the United States, and these death taxes can erode your wealth considerably as it is being passed on to succeeding generations. The federal estate tax looms… Read more »

Texas Estate Planning Tip Sheet

Tip 1. Your estate is what you leave behind after you die. Everyone has an estate. Whether you are wealthy, old, young, a parent, single, or anything else, you have, or more specifically will have, an estate. Your estate is simply the collection of possessions, money, and other property you leave behind after you die,… Read more »

What Is a TOD or POD Account?

There are numerous different ways that you can arrange for assets to be transferred to your loved ones after you pass away. In truth, the best way to decide would be to discuss everything with an estate planning attorney. There is no reason to expect a layperson to understand all the options that are out… Read more »

What Is an Incentive Trust?

When you are planning your estate, passing along resources directly with no strings attached can be perfectly acceptable for some established people on your inheritance list. At the same time, there could be people in the family who could use some guidance. Under these circumstances, you could consider the creation of an incentive trust. With… Read more »

Steer Clear of These Estate Planning Mistakes

As estate planning attorneys, we often encounter families who are suffering due to estate planning mistakes that were made by other family members. There is usually some type of damage control that can be done, but as they say, you don’t want to try to close the barn door after the horse has left. Let’s… Read more »

Long-Term Care Costs Are on the Rise

Most senior citizens will require help with their day-to-day needs at some point in time. This is a fact of life that you should be well aware of when you are looking ahead toward your retirement years. Though you will qualify for Medicare coverage at the age of 65 if you worked for any length… Read more »

Can You Use an IRA for Estate Planning Purposes?

An individual retirement account can provide a valuable nest egg during your senior years. However, under certain circumstances, an IRA can also be useful from an estate planning perspective. Essentially, there are two different types of individual retirement accounts: traditional IRAs, and Roth individual retirement accounts. There are some similarities between them, but there are… Read more »

Legacy Planning and Acts of Charitable Giving

Merry Christmas! Tis the Season of Giving! Estate planning can be viewed in one of two ways. You could look at it as a basic effort to make sure that your assets are distributed in accordance with your wishes and leave it at that. On the other hand, you could take a more comprehensive viewpoint… Read more »

Medicaid, Long-Term Care and Your Home

You may be aware of the fact that the Medicaid program is a health insurance safety net for people with very limited financial resources. The limit on countable assets is just $2000 for an individual. If you have never been financially needy, you have probably gone through life with the understanding that Medicaid will probably… Read more »

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