Charitable lead trusts can be an efficient way to transfer assets to family members, reduce tax liability and make a significant difference in the lives of others by establishing a legacy of giving. This type of irrevocable trust donates payments to one or more...
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What is a QTIP trust?
You may already be familiar with trusts as part of the estate planning toolkit. However, unless you have already sought advice from an estate planning attorney, you may not be familiar with the QTIP trust. QTIP? A QTIP trust is a qualified terminal interest property...
Estate planning is especially important for farm owners
During these trying and unprecedented times, estate planning has been a hot topic. But for farm owners, estate planning is particularly important because it will incorporate a transition plan for the farm – should the unexpected happen. Is a transition plan needed? As...
Be sure to update your estate plan following a divorce
The last year has presented a host of unprecedented challenges. You may have faced job loss, life-threatening medical concerns and isolation from your regular social circles. The stress of 2020 also took a toll on many marriages – resulting in a 34% spike in divorce...
How can I protect the inheritance I give my family?
If you’ve created an estate plan that specifies how much your family will receive after your passing, you may already have the peace of mind that you are looking after your loved ones. However, despite your best planning efforts, your family may still not receive...
When can you file a claim over ‘breach of fiduciary duty?’
A fiduciary is an entity or individual that puts a client’s best interests ahead of their own. Fiduciaries often manage money or assets for people or groups and are legally bound to act in good faith while preserving trust. Fiduciaries operate under a 19th-century...
Texas durable powers of attorney give agents select powers
You may not know that estate planning can offer you more than just a way to create a solid will. Although a will is a critical element of an estate plan, there are other tools you can add to strengthen your plan. A durable power of attorney (POA), for example, can...
4 ways to avoid probate for the family home
When a property owner dies in Texas, their real estate holdings are often the only assets required to go through court-ordered probate, which can be a slow and costly process. However, by doing a little homework and working with an experienced probate and estate...
5 reasons to update your estate plan in Texas
The two most significant errors people make regarding estate planning are failing to have a plan in place, and second, having a plan but failing to update it when major changes happen in their lives. Not having a plan can be a costly and troublesome mistake for your...
Estate planning after a cancer diagnosis
If you have received a cancer diagnosis, you may naturally be thinking about the future. A diagnosis of this type is often what prompts people to start their estate planning when they haven’t done so before. The odds are high, of course, that you’re going to be fine....
