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From the minute your first child is born, your life changes. It’s cliché, but it’s true. Nothing that mattered before seems as important now because all that you can think about is how much you love We love helping parents craft estate plans that protect and provide for their families. outings like trips to a museum or the ballpark. It can really enrich your loved one’s life to have a trust they can depend on for things public assistance

wills. Revocable Living Trust Vs. a Will While a revocable living trust offers several benefits over a traditional Creating a Revocable Living Trust Creating a revocable living trust typically involves working with an Funding and Maintaining a Revocable Living Trust Funding a revocable living trust involves transferring living trust to ensure that it still reflects your wishes.

In addition, revocable trusts – sometimes called “living” trusts – are incredibly flexible and can achieve Depending on the institution, they will likely require a copy of the trust in order to ensure the trust You should also consult with your attorney before placing life insurance or annuities into a revocable

mysterious legal entity – the living trust. Benefits of Setting up a Living Trust in Texas Living trusts offer several advantages that make them Privacy In most situations, living trusts are much more private than probated wills since they allow How Funding a Living Trust Works A living trust has no real effect until it is “funded” by retitling Is a Living Trust Right for You?

example: Estate planning versus Asset Protection Healthcare Directive versus Advanced Directive versus Living Living Trusts Pros Ensures privacy, keeps your affairs out of the public record and helps you avoid probate If you own property in another state, a living trust may keep you out of that state’s probate court. Cons A living trust can be more expense to set up initially. You cannot create a guardian for your children in a living trust.

However, you don’t want them to be able to withdraw more than the required distribution based on their life may be more advantageous than designating individual children or grandchildren—or naming revocable living If you name your revocable living trust as a beneficiary, you must be certain that it has the appropriate The RMD is based on the beneficiary’s life expectancy. trust can also control distributions so that they’re limited to the RMD based on the beneficiary’s life

Will Care For Them… If You Will Care For Me Many families in the Houston area have several generations living give you back the love and care they promised? The love you gave was not wasted, but sometimes love is not enough. Love can’t give your loved ones the strength or the money they need to care for you as you grow older Moving Forward If you are in a situation where your loved ones are not living up to the promises they

When a loved one becomes mentally or physically incapacitated and unfit to care for themselves on their These policies that are ensuring that both nursing homes and assisted living facilities have legal proof As of September 2015, all nursing homes and assisted living facilities in the state of Texas were required The guardians will not only be responsible for deciding what long-term facility the senior will be living When the nursing home or assisted living facility is fully-informed of who the legal guardian is, they

“You should steer clear of ‘living trust mills,’ which hold themselves out as estate planning specialists living trusts are often nothing more than insurance agents or people working for insurance agents. A living trust is a legitimate estate planning tool, and—similar to a will—it is created when you are A living trust is revocable, which makes it very flexible. Living trusts are very complex legal documents—one-size-fits-all doesn’t work.

third of Americans age 65 and older took no retirement income from their nest eggs during the past five Saving money is good, but if you’re cutting out basic comforts because you think you’ll live to 108 and Major expenses, like a mortgage or the children’s college tuition, may go away in retirement. While optimistic, it might be a little unreasonable to plan on living to 110. you a better idea of your life expectancy.

just a few of the most powerful estate planning tools you can use when considering your charitable giving This is an excellent idea for anyone who does not need their distribution to cover living expenses. A bequest is a statement in your will or trust explaining how much you would like to leave to benefit It is important to use the charity’s correct name and to explain the purpose for which you would like This is a great way to get around capital gains taxes while also giving back.

Understanding Life Estates A life estate is a unique type of property ownership. The Roles of Life Tenant and Remainderman The life tenant is the individual who holds the life estate They have the right to use, occupy, and benefit from the property as long as they live. Involuntary Removal Voluntary removal occurs when the life tenant willingly gives up their rights to After the Life Tenant's Death After the life tenant dies, the life estate typically ends, and the property