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The beneficiary designations for your pension, life insurance, IRAs, and thrift savings plan take precedence overlooked benefit is the ability to roll over a military death gratuity or SGLI death benefit into an IRA

The Des Moines Register’s article, “How to assist your aging parents with their finances,” points out another aspect of care giving: helping parents manage their finances. If that’s the case, then be sure to do the following: Understand your parents’ overall goals. When assisting your parents with their finances, helping them to reach their goals should be your main objective. Talk to them and see whether they have financial goals above just covering their day-to-day expenses. It’s important to understand what they want their money to do. Have this conversation more than once. That’s a biggie! The “getting-to-know-your-goals” talk shouldn’t be a “set it and forget it” one-time conversation. Speak to your parents frequently about their goals. Their plans may change over time, especially after important life events, like the birth of a grandchild or the death of a loved one. Know the sources of their income. If your parents have a regular income which is enough to pay their bills, then managing their assets may be just keeping track of what they already have and using the regular income to pay their monthly expenses. But if your parents don’t have this regular income, then managing their assets will become more challenging. Find all of the important legal documents. Before your parents can legally let you handle their financial matters, you need to be listed as their power of attorney. Without it, you may be in store for a lengthy court proceeding before being given permission to manage your parents’ assets in the event they become incapacitated. If your parents want you to also handle their medical decisions if they become incapacitated, make sure they have health care directives in place as well. Managing your parents’ or any relative’s finances can be extremely challenging. Talk with your estate planning attorney. He or she can help you make sure you have all the tools to do the job right. Reference: Des Moines Register (November 24, 2015) “How to assist your aging parents with their finances” #HealthCareDirective #HoustonAssetProtection #EstatePlanningLawyer #CaringforParents #ProbateAttorney #ParentsFinances #PlanningfortheFuture #PowerofAttorney #ElderLaw

trusts available now that are specifically meant for families in this particular situation. With these Trusts, you can write a specific letter of intent to either a caregiver or even a facility There will also need to be a trustee that is responsible for overseeing the money in the Trust and of course, you will need to make financial preparations to make certain the trust has been funded. This is allowed only if the gain is placed is a qualifying Trust, also known as a “payback” Trust. 

Such a clause is uncommon because the principal has typically chosen a specific person or persons they trust

To learn more about how you can conveniently establish an estate plan to protect your loved ones, call

Reference: The Boston Globe (November 16, 2015) “An unequal sharing of the wealth” #Stepchildren #TrustsandEstates

Your Legacy Legal Care™ Today A power of attorney document is not an insurance policy; it does not protect

over before you know it, which will allow you to sleep peacefully at night knowing your loved ones are protected

Some of the questions you might consider include the following: Does the prospective guardian share your How many kids does the prospective guardian already have and what is his or her parenting style? What’s the age and health of the prospective guardian? Where does the prospective guardian live? #EstatePlanningLawyer #HoustonGuardianship #ProbateAttorney #TrustsandEstates #WillChanges #HoustonWills

Texas For those wishing to avoid the costs and delays of probate, there are several options: Living trusts

in Harris County, Galveston County, Brazoria County, Chambers County, and Liberty County allow us to protect

Guardianship is a legal means of protecting any adult who cannot take care of themselves or act in their Guardianship is a great way for parents to make certain they are protecting their child from those who In order to make sure that people aren’t abusing the system and that this legal protection is reserved legal world, you can make sure that you are taking the steps necessary to keep your loved one safe and protected guardianship law and can help you through every step of the process, so your loved one can get the legal protection