Special Needs Trusts: Five Things to Know

A family with a member that has special needs, whether physical or mental, has many challenges and worries. For many parents, worrying about what happens to their child with special needs after the parents pass away is one of them. Often times, parents disinherit their child with special needs, leaving additional money to other children or relatives with the expectation that those third parties will care for person with special needs. This leaves too much unsettled and too much at …

Can the Executor Sell a Home Inherited to Someone?

Nothing could be more exciting than inheriting someone’s house under their Will.  Often homes are not only the most expensive item in a person’s estate, but often we attach a lot of fond memories attached to a household. However, if you suddenly find a “for sale” sign on the lawn, if the executor of the estate allowed to sell the house when it has been designated to pass to you?  The answer is yes, but only in certain circumstances. The …

Estate Planning for Minor Grandchildren Beneficiaries

To many grandparents, their grandchildren are precious. You don’t want to miss a single moment of them growing up, but if you can’t be there, you also want to make sure that they have the best shot at life. For this, your estate can help take care of grandchildren if it is your time, but the issue is that there are special considerations that must be made for those that are still considered minors. So if you are estate planning …

Life Events That Should Trigger and Estate Change

When you do your estate planning, you do it in such a way that it is ironclad and will last a lifetime, however long that may be. While this should indeed be the way you do your estate planning, estate plans don’t last lifetimes. In fact, they should be reviewed and edited often during your hopefully long life. While you should look over it every now and then, there are actually specific life events that should merit looking and often …

Where Does Intellectual Property Fit Into The Estate Plan?

You might think you don’t have any intellectual property, such as things like authorship or trade secrets, but in today’s world, assets that you can’t actually touch are more common than ever. A popular example of this is those that retire and take up article writing as a hobby online to share their knowledge. Suddenly, they start to make a little money, then maybe a lot more over time. Alternatively, a more modern example that will become an issue in …

3 Life Events That Should Have You Revisit Your Will

Any time that we assist clients in preparing a Will and estate plan, we always advise them that they should think about reviewing their decisions every 3 to 5 years, or upon a major change in family circumstance.  While changes in family circumstance can be exciting, stressful, unexpected, etc., they often impact the decisions that you made  under your Will and estate plan.  What are some common changes in family circumstance that might impact your Will? Birth The birth of …

Does a Prenuptial Agreement Affect an Estate Plan?

Prenuptial Waivers The important thing to consider in terms of a prenuptial agreement’s affect on your estate plan primarily is the waivers. A prenup can include a number of waivers that work to protect your estate plan because even if an estate plan is in place, a spouse still maintains a fair bit of power.  Often, a prenup dictates what each spouse is entitled to receive both upon divorce and upon death.  For instance, in Texas, many prenuptial agreements provide …

Estate Planning: Be Prepared for These Uncomfortable Questions

Estate planning, as you can imagine, is actually a highly personal process. It is kind of like going to the doctor where you need to be ready to disclose some things that you may not bring up in polite conversation. However, rest assured that there is always a reason for all the uncomfortable questions. By knowing what to expect, you can better prepare. So what are some questions that may come up? Do You Have Any Health Problems? It may …

Issues That Arise With DIY Estate Planning

There may be some small allure in dividing up your worldly possessions among your loved ones, but for many, the worst part of estate planning is actually doing it. You have to leave the house and go talk to a lawyer for a few hours. Even if your lawyer is a great person, it is still not a very fun way to spend your time. Instead, there are some that may choose a few DIY maneuvers for estate planning. Some …

How a Trust Litigation Attorney Can Help You

Planning for your financial future is extremely important. While it is important to plan for your long-term financial needs, it is also important to make sure you have a plan for after you pass on. While a trust can be used to organize your finances and provide directions, there are situations in which something goes wrong with the trust and execution. There are several situations in which it would be a good idea to hire a trust litigation attorney to …