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The article, “Sumner Redstone’s ex-girlfriend stands to lose $70M after new will,” says that a new court document explained that Herzer was named in Redstone’s will until the 92-year-old former chairman of Viacom and CBS Corp. ended the relationship last fall and rewrote the will. Herzer filed a lawsuit, asking a judge to reinstall Herzer as Sumner’s health agent. Redstone’s previous will stated that Herzer was entitled to $50 million and his $20 million house in Southern California. However, last fall Redstone removed her as his health care agent and ordered that his estate pass to his charitable foundation. Redstone has been thought to be too mentally incapacitated to be involved in running corporate boards. He recently resigned as chairman of the boards of directors for both CBS Corp. and Viacom. Redstone became Chairman Emeritus of the companies, ending his managerial involvement. A judge in Los Angeles is scheduled to rule later this month on a motion by Redstone’s lawyers to throw out Herzer’s lawsuit. Reference: USA Today (February 9, 2016) “Sumner Redstone’s ex-girlfriend stands to lose $70M after new will” #AssetProtection #HoustonEstatePlanning #WillChanges #Wills #ElderLaw

Online legal form providers don’t give clients the trust they can foster with an attorney. WillChanges #HoustonWills #Probate #ProbateCourt #Inheritance #PowerofAttorney #HoustonEstatePlanningLawyer #Trusts

Organizing your personal finances is especially critical for Baby Boomers who’ve recently retired or who need to make the most of what remains of their working years. There’s no time like the present to tune up your strategy (or make that appointment with the dentist!). The article, “9 ways for older Mainers to get a grip on finances in 2016,” from the Bangor Daily News has some great tips for starting the New Year right: Get ready for tax time. Set up a computer folder to collect tax-related papers as they arrive. If you don’t, April 15th will roll around and you’ll be wondering where you put those tax documents! Make a checklist of the documents you’re expecting and file as soon as possible after you have them all. Also, think about changing your withholding amounts to be closer to the taxes you expect to owe for the coming year. Update your estate plan. Review your estate documents, including your will, your medical and financial powers of attorney and your advance directive for end-of-life care (living will). If you don’t have any of these documents, talk with an experienced estate planning attorney. For your sake and the sake of your heirs, don’t put it off. Fine tune your investments. Review your investments to make certain they’re in sync with your retirement goals and life changes. This includes cash-on-hand needs and risk tolerance. Does your portfolio need rebalancing, or do under-performing assets need to be swapped out? Review your financial condition. Examine your overall financial situation by tallying your assets and liabilities, as well as your expected income and expenses for 2016 to help you decide if you need to use any of your savings or investments to pay monthly bills. Be wary of investment scams. Always research any unsolicited proposals or work with an attorney to do thorough due diligence on anyone who approaches you with a “sure thing.” Review beneficiary designations. This is for your retirement accounts, life insurance policies, and other assets to make sure they are in line with your estate planning. Review insurance policies. Check your life, health, long-term care, home and automobile policies for appropriate coverage and any needed changes. Reference: Bangor Daily News (January 2, 2016) “9 ways for older Mainers to get a grip on finances in 2016” #AssetProtection #HoustonWills #Inheritance #PlanningfortheFuture #HoustonTrusts #PowerofAttorney #HoustonEstatePlanningLawyer #TaxPlanning

that answer that you might not be expecting… There is no such thing as a one-size-fits-all will or trust The DIY will and trust companies do not adapt to the nuances that make your family unique. No one to turn to when the will or trust is executed. When it comes to creating a will or trust, you really do get what you paid for. Actually, if done incorrectly, that will or trust may not hold up during probate, in which case it is

For an accurate estimate based on your region, inflation, and other factors, talk with a trusted insurance not know that estate planning attorneys often work with insurance agents to provide their clients a trusted and elder law attorneys can provide guidance on how to plan ahead before long-term care is needed to protect

For sure, but there may be other items you need, such as a trust if you have a lot of assets that may

The surest way to protect your assets and loved ones is to work with the right estate planning attorney Why This Matters A well-conceived will can help to protect your assets and ensure the beneficiaries receive

many people are opting to outline their specific wishes for their online assets in their wills and trusts We can answer questions you have about your options for virtual asset planning and protection. To protect your virtual and digital assets, call (281) 218-0880 or click here to schedule an appointment

Jointly held property can be held either as joint tenants or as tenants in common. Joint tenancy has what is called the right of survivorship. This means that upon the death of one of the owners, the ownership of the asset – for example, the house that you and your spouse own – passes in equal shares to surviving owner. Tenants in common, by contrast, have their shares of an asset become part of their estate. This results in the asset being distributed after their death based on their will. Owning property jointly may be a bit unclear because joint ownership could mean either joint tenancy or tenancy in common. Most spouses own property as joint tenants. Their share goes directly to their surviving spouse on their death. However, in some scenarios, such as second marriage, tenancy in common may be a better choice so that the asset can be willed to the children of the deceased spouse. This situation can be complicated, so speak with an estate planning attorney. Remember that there are tax issues related to joint ownership. Just adding a spouse’s name to an account doesn’t make the account joint for tax purposes. Adding a spouse as a joint owner on most assets – like bank accounts, investment accounts or real estate – won’t generally create any immediate tax issues, but adding them to other assets – like a private corporation – might. Reference: MoneySense (May 10, 2016) “Joint tenancy vs. tenants in common” #JointTenancy #AssetProtection #EstatePlanningLawyer #TenantsinCommon #ProbateCourt #Inheritance

designations and a Medical Power of Attorney, it is also a good idea to discuss establishing a will or trust planning tools can help you prepare for the next “once in a generation” event while simultaneously protecting To find out how advanced estate planning will help protect you and your family, call us at (281) 885-

Business planning lawyers look to protect both aspects of this should you die or become incapacitated are at the helm or not. · Make sure that your wishes are followed · Ease transition for the company · Protect

best planning options for your loved one, how to get them qualified for Medicaid if needed, how to protect Those who choose to work with a Certified Dementia Practitioner can rest assured knowing they have a trusted