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If that happens, you’ll need a plan—a plan that avoids common and sometimes costly mistakes. USA Today’s article, “If you inherit an IRA, make a plan before doing a thing,” lists 10 common inherited Reference: Reference: USA Today (March 15, 2016) “If you inherit an IRA, make a plan before doing a thing

Marriage When it comes to proving a common law marriage after the death of one partner, witnesses can play This may include collecting evidence of a shared financial life, cohabitation, or even testimony from

Business planning lawyers look to protect both aspects of this should you die or become incapacitated Advanced planning is one of the smartest things that you can do to ensure that your small business meets There are a lot of decisions to be made, and a Houston business planning lawyer is the perfect person Advanced planning for your business can help avoid this type of huge tax burden. To get started, simply call our office at (281) 218-0880 to schedule a complimentary estate planning

Speak with an experienced estate planning attorney to make sure that this is the right strategy for your

With so much information about estate planning readily available on the internet, some individuals may The surest way to protect your assets and loved ones is to work with the right estate planning attorney acquiring property, divorce, remarriage, retirement — a will contest may arise when the distribution plan well-conceived will can help to protect your assets and ensure the beneficiaries receive the inheritance you had planned By working with an experienced estate planning attorney , however, you will have peace of mind knowing

The debate between privacy and access happens when deciding what to do with a deceased’s digital property or records. “For the last few years, there’s been kind of this war going on,” said a lobbyist who testified before a House committee reviewing the legislation on behalf of the Elder Law and Disability Rights section of the State Bar of Michigan. He said that estate lawyers want to make it less difficult for those appointed to manage someone’s property after they die or become incapacitated to be able to access all those memories, including emails and photos stored online. However, companies have privacy standards and internal policies. “It wasn’t easy. This has been worked on for a couple years,” said Republican Rep. Anthony Forlini, of Harrison Township. “This is gonna affect most people’s lives more than just about anything we’ve done, and most people don’t understand that.” The Michigan law is based on the Uniform Law Commission model legislation. This model law was endorsed by Google, Facebook, the National Academy of Elder Law Attorneys (NAELA), the Center for Democracy and Technology and the Association of American Retired Persons (AARP). A Google spokesperson said in an email to The Associated Press that the company believes that bills like the Uniform Law Commission’s model bill and Michigan’s new law “strike the right balance between the needs of the executor and the privacy expectations of the user.” Several states have enacted versions of the model legislation, and 20 others have introduced some form of the legislation this year. Reference: The News & Observer (April 3, 2016) “New law lets some access Facebook, email of the dead” #DigitalAssets #estateplanning #PowerofAttorney

When most people think of estate planning, most think about drafting wills. Although wills are certainly an important part of estate planning, sometimes they are not enough to accomplish Because of this, it is wise to speak with an experienced attorney before beginning the estate planning An attorney can assess your situation and recommend the estate planning solution that would best carry

While a will is one of the most important estate planning documents you can have, there are some things A will is just one piece of a comprehensive estate plan. Retirement plan. A will is not the only component of your estate plan. and discover which estate planning options can accomplish them.

As a Harris County will and trust lawyer, I realize that those of us in the estate planning industry In fact, even the words “estate planning” can confuse people by making seem like you only need to plan For example: Estate planning versus Asset Protection Healthcare Directive versus Advanced Directive Living Will Power of Attorney versus Executor of an Estate However, there are probably two estate planning If you really want a plan in place that will work when you need it, it is best to talk to a Harris County

IRA accounts, 401(k)s, and 403(b)s—require up-to-date beneficiary designations to be on file with the plan However, if you have a trust created as a part of your estate planning strategy, the trust may be a beneficiary Speak with your estate planning attorney for help naming beneficiaries.

Some of the benefits of a 529 savings plan are that you can use the annual exclusion gift, now set at If you put the funds in 529 plans, you still have control of them as the owner of the account, and you A 529 plan is only designed to pay qualified secondary educational expenses. An estate planning attorney can help evaluate if a trust is a better option all around. for the kids’ financial aid prospects.

A probate judge in Minnesota who is in charge of the proceedings concerning Prince’s estate has whittled down the large group of potential heirs for the late superstar’s fortune. Carver County Judge Kevin Eide crossed out about 30 claimants and ordered genetic testing for six purported family members, reported The Minneapolis Star-Tribune in “Court order sharply narrows Prince’s potential heirs.” The judge’s order requires genetic testing for Prince’s sister, Tyka Nelson, and three of his half-siblings: Sharon Nelson, Norrine Nelson and John Nelson. In addition, Judge Eide ordered testing for Brianna Nelson, who claims to be Prince’s niece. Also to be tested is potential grand-niece Victoria Nelson. They both say that Briana Nelson’s father was Prince’s half-brother. No reason was given as to why Eide didn’t order testing for Omar Baker or Alfred Jackson, who were listed as half-brothers in the original petition to name a special administrator to the estate. However, the judge’s order noted that the court was “not aware of any objection or dispute” that all six siblings or half-siblings are legitimate heirs. A DNA test has already eliminated a Colorado prison inmate who said he was Prince’s son. As we all recall, Prince died on April 21 of a drug overdose. Because he didn’t have a will, the process of figuring out his heirs and distributing his estate is the work of the probate court. Unless any other potential claimants come forward, Judge Eide’s order drastically cuts down the pool of those who may benefit from Prince’s estate—which is estimated to be at least $300 million—or gain control of his legacy. Some of the individuals who were excluded from potential heirship in the probate order are five unidentified people with somewhat dubious arguments that Prince was their biological father. The order also bounces a handful of claimants who alleged that Prince’s father was someone other than John L. Nelson, who’s listed in court records as Prince’s father. The four siblings or half-siblings of Prince who were ordered to take a DNA test all claim Nelson as their father. Eide may have ordered these people to be tested because of the claimants who said John L. Nelson wasn’t actually Prince’s father, despite the fact that he threw out those claims. Two that don’t need to be tested are claiming relation to Prince through a common mother, but different fathers. Reference: Minneapolis Star-Tribune (July 29, 2016) “Court order sharply narrows Prince’s potential heirs” #Intestacy #EstatePlanningLawyer #ProbateAttorney #ProbateCourt #Inheritance