Blog
Our Blog
What Is Probate And How Does It Work?
Probate is the legal process of transferring title of the Decedent’s (the one who passed away) assets from the Decedent, to the heirs or beneficiaries. Probate is necessary because in order to transfer assets a signature is ordinarily required. However, when someone...
How Will My Assets and Estate Pass To My Spouse, Children, and Beneficiaries?
There are two basic ways to leave gifts to your heirs or beneficiaries: outright or in trust. Outright Distribution Over the course of history, outright distribution has probably been the most common type of transfer. Here, property (real or personal) passes to the...
Can I Use The Internet To Create My Own Estate Planning Documents?
In short, “yes, you can.” Perhaps a better question is, “Should I create my own estate planning documents?” In my opinion, the answer to that question is “probably not.” In today’s world of Google and You Tube we have access to a huge amount of information that...
How Can I Avoid Probate?
Probate in Texas is normally not that difficult. However, it is kind of like elective surgery; it is not absolutely necessary and it costs money. In addition, Probate is a public process. This means that if your estate goes through Probate, anyone can go to the...
Should I Update My Estate Plan?
Yes, absolutely. No question about it. I could make this one of the shortest and easiest to read posts, but allow me to elaborate on my answer. In my opinion, it makes total sense to continue your relationship with your estate planning attorney and have your documents...
How Do I Fill Out The Beneficiary Designation Form For My IRA or 401(k)?
Beneficiary Designation forms are the instructions for the custodian of the IRA or life insurance company that tell them what to do with the funds in the accounts when it is time to distribute them. Life Insurance, IRAs and other Qualified Plans, and Annuities pass by...
Naming A Trust As The Beneficiary Of An IRA: Is It A Good Idea?
On Friday, April 29, 2011, the IRS issued Private Letter Ruling (“PLR”) 201117042. An ancillary issue in this PLR was whether an IRA could be titled in the name of a revocable trust during a Grantor’s lifetime. The IRS said that an IRA could not be held in the name...
What Is A Declaration Of Guardian, And How Does It Work?
A Declaration of Guardian is a legal document where you tell the court who you want to serve as your guardian if there is ever a guardianship proceeding for you. There are two types of guardians: Guardian of your estate, and guardian of your person. Guardian of...
What is an Advance Directive, or a Living Will, and How Do They Work?
An Advance Directive (also known as a Living Will) is a legal document that communicates your desires about future medical treatments, or the lack thereof, when you are unable to communicate on your behalf. Ordinarily, this document outlines your desires about whether...
What Is A Healthcare Power of Attorney And How Is It Used In Estate Planning?
Like a Power of Attorney for financial matters, a Power of Attorney for Healthcare allows the “Principle” to name someone to act as their “Agent” when healthcare situations arise. Like the Power of Attorney for Financial matters, you are not giving up your ability to...
