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It permits you to save as much as possible on taxes, court costs, and attorneys’ fees. The following are some common myths that people have about estate planning: Estate Planning Myth 1: “ If there are any complicated aspects of your family, such as subsequent marriages or children from previous marriages, using a do-it-yourself estate planning software means taking a large risk that may disinherit Whether it is a birth or death in the family, a marriage or divorce, or the acquisition or loss of an

Simply leaving your assets in a will does not afford this same kind of protection and can cause some aspects that a special needs lawyer in Houston will discuss with you in creating the document are: · Naming Guardian – This is the person who will be responsible for the physical well-being of your loved one. · Naming While it is possible to name the same person as the guardian and the trustee, it may not be the best

are doing research on the phenomenon to determine why our brains seem to enjoy and hate them at the same It’s super catchy, and for some reason, it often gets stuck in our heads when we are working on a divorce Are your grandchildren safe and well cared for? Paternity: Do you have rights to your child? Name changes for adults and children The fact that we do both family law and estate planning makes sense Nobody’s life stays the same as it was when their divorce was finalized.

In some arrangements, the surviving spouse can also access the trust's principal. significant protection for assets, particularly in situations where there are children from previous marriages This type of trust is particularly useful in blended families, where there are children from previous marriages Community Property Laws: Texas is a community property state, meaning that most assets acquired during a marriage The surviving spouse is often named as the trustee, but it is also common to name a third-party trustee

somebody to help make decisions on your behalf just to find out it is still your ex-spouse that is named Keep in mind that if you established an estate plan during marriage, chances are that with the marriage Here are some of the following takeaways you should consider when reviewing your documents after your is always best to review your beneficiary designations on any financial account you own (checking, savings Plan For Your Children As your marriage and life change, so will your children.

that couples who create a prenuptial agreement are basically saying that they plan to get divorced some prenuptial lawyers in Houston see first-hand how these important documents can actually help keep a marriage in the case of a divorce, but more importantly, they can lay out what happens during the course of a marriage You are about to get married, after all, there should be trust and honesty between you. That’s right, children from a previous marriage could end up totally (and legally) without anything.

All assets acquired by a couple during their marriage will be considered “community property,” regardless For instance, say John purchased a house in Austin a year into his marriage to Rebecca. Of course, there are some exceptions to the rule. The most important factor in determining who gets your assets is marriage. all of the children are of the marriage.

and regulations regarding state taxes, marital property, and inheritance, so you will want to spend some Here is what to keep in mind as you relocate: Marital Property Laws If you are married at the time of In other states, each person owns whatever is in his or her name. In Florida, for instance, your executor must be related by blood or marriage or be a resident of Florida Trusts Remain the Same A revocable living trust that was validly prepared in one state is typically honored

succession planning becomes even more important for parents, high net worth individuals, and those in second marriages Let’s say a married couple dies in a car accident but have no simultaneous death clauses in their estate Multiple Probate Cases Simultaneous deaths mean going through multiple probate cases at the same time Clauses It’s hard to imagine a scenario in which all your heirs might predecease you – or die in the same uncertain about what might happen to your assets and family should you and your partner pass at the same

Marriage offers many legal and financial protections, so if you’re planning to live together without getting married, you should take these extra steps to protect you and your partner. Marriage also typically gives you some basic protections for a shared estate.

We will also explore some of the duties and limitations of these roles and how you can get help planning appointed by the court in cases where someone dies without leaving behind a will or if they did not name An executor is an individual named in a person’s will to manage their estate after they pass away. Coincidentally, an administrator and an executor have the same job to do. interests of the estate and beneficiaries Coincidentally, an administrator and an executor have the same

While a will is one of the most important estate planning documents you can have, there are some things It is also the way you appoint a legal representative to carry out your bequests and name a guardian With an IRA, you can name your preferred beneficiary. Investments in Transfer on Death accounts. Some stocks and bonds are held in accounts that transfer on death to a named beneficiary. illegal activities and conditions that are contingent on the marriage, divorce, or change of religion