Blended families and second marriages create a number of issues in the context of estate planning. Difficult decisions must be made and competing interests must be prioritized. Some of the common concerns include the following: Providing for the new spouse. Providing for children from a prior marriage. Providing for children born during the new marriage. […]
Estate Planning 101
Most people hear the term “estate planning” and either don’t know what it involves or don’t fully understand what an estate plan accomplishes. This article is an Estate Planning 101 to help explain what estate planning is all about, including what an estate is, the goals of estate planning, what an estate plan does, and […]
An Example of Why You Should Have An Attorney Draft Your Will
Today’s example of DIY will language that cost a lot of money comes from the late Ms. Vada Wallace Allen. The issue surrounds a 316 acre tract of land the Ms. Allen conveyed to her son Bobby in some form. The provision in her will that caused the problems reads as follows: NOW BOBBY I […]
How to Keep Your Family Together During the Probate Process
Financial interests and dealing with the emotional loss of a loved one can combine to create tension, dispute, and destruction in family relationships. Family members fight. Siblings feel hurt by the terms of a parent’s will. Someone feels a strong need for a sentimental personal effect. Family members feel pressure from their own financial problems […]
Key Estate Planning Documents in Texas
There are numerous documents used when putting together an estate plan. Each plan is different and focused on the individual client’s needs so one client may have documents in his or her estate plan that are not necessary to address another client’s estate planning objectives. However, certain documents are common to most estate plans. It […]
An Estate Planning Solution for Parents Whose Children Have Student Loans
There has been a significant increase in student loan debt as well as default rates by borrowers leading to an increased risk that the estate a borrower’s parent intends to pass to their child could instead end up in the hands of a student loan lender or collection agency. If your child has significant student […]
Estate Planning Tips for Individuals and Families Building Wealth for the First Time
With new wealth comes new priorities, new problems and a new importance to estate planning issues. Below are eleven estate planning tips for individuals and families building wealth for the first time. 1. Estate Planning Is Not All About Tax Planning. A common misbelief is that estate planning is only for the very wealthy […]
Basic Estate Planning Issues for New Parents
The feeling of being a new parent is exhilarating, a little scary, and often very tiring – I know, I did it twice. I still remember walking out of the hospital when my son was born thinking, “That’s it? They really just let me walk out the door and go home with him?” Along with […]
Why Online Business Documents Could Be The Choice That Destroys Your Company
There are a number of do-it-yourself online legal document services that have popped up over the past few years. The appeal is obvious – they are cheap. Most folks who start or run a business know they need governing documents, contracts, and a number of other legal documents. Lawyers are expensive and these document services […]