If you were making a list called "Words That Everyone Uses but not Everyone Understands", the word "trust" would be on that list. Most people have a general idea of what a trust is, but not everyone understands when they should consider having one. Isn't a Trust Just for Rich People? No, it isn't! There are situations in which "regular people" benefit from having a Texas trust! In … [Read more...] about What is a Trust and What are its Benefits?
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Abra esta publicación para ver el enlace en español. Small business owners often have their hands full on a daily basis and relaxation is in short supply. There is always a list of "to do's", one more thing to do, buy, read or set up. You know that your time is limited, so here is a short no-nonsense list on what to consider when planning for your business once you are gone. The three … [Read more...] about How to Plan for Your Small Business in Your Last Will & Testament
Taking the time to create a plan for your family is very important. It is even more important in stepfamilies. In the State of Texas, if you don't make the decision on how you want your property divided, then the laws of the state will. For instance, if you are married now, and have children from a previous marriage or relationship, the law specifies how your personal property and real … [Read more...] about Having a Will is Important, Especially for Stepfamilies
Why go to the trouble of estate planning? The recent death of Soprano's actor James Gandolfini illustrates the need for careful, individual estate planning. The actor had a large estate, and he had a will. But sometimes a will just isn't enough! In this case, the will WAS enough to make his wishes known, to allow his beneficiaries to know that he cared for them, and to designate how he … [Read more...] about Tax Problems of Actor James Gandolfini’s Heirs Illustrate Need for Estate Planning
Scammers and con artists are always updating their knowledge and refining their game. Senior citizens are especially vulnerable and some scammers "specialize" in targeting this particular group. Fraudulent letters, emails, and phone calls are getting more and more sophisticated. Recently, the Texas Office of Attorney General ("OAG") issued an alert aimed at helping prevent these tragedies. … [Read more...] about Help for Senior Citizens in Avoiding Scams
What’s the first thing that you think of when someone asks you why you should have a will or estate plan in place? “To protect my family”, someone might answer. “To name a guardian for my child,” someone else might say. Someone else might answer, “My attorney helped me with a combination business plan and estate plan so that my personal assets were protected and separate from my business … [Read more...] about What Everyone Should Know About Texas Wills and Estate Planning
Adoption of an adult can be a fairly straightforward process. The adoptee’s biological parents do not need to be notified of the adoption and are not entitled to have a voice in the proceedings. There are many reasons to proceed with a formal adoption, even after the “child” reaches adulthood. The most common situation is one in which a step-parent has wanted to adopt the … [Read more...] about Basic Facts About Adult Adoption in Texas