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If you are a current or soon-to-be agent under power of attorney or planning your estate to include a They can buy your groceries, water your plants, and even make financial decisions for you which is why It is not a will or estate plan since, if you die, your agent’s authority ceases.

Nonetheless, preparation is the key to designing the kind of financial plan necessary to allow you to

Moving and Estate Planning Documents What happens with your estate-planning documents when you move during Yes, it is worth your time and money to have new estate planning documents prepared for your new address At the very least—even if your estate-planning documents are relatively new and you don’t want to go through the hassles and cost of starting all over again, you should speak with an experienced estate planning

Typically, if the value of the donated property for which you plan to claim a deduction is greater than

Consult an elder law or estate planning lawyer for more information regarding how this might work for

and deciding who to distribute them to can be one of the most difficult tasks when creating an estate plan To avoid family feuds after you are gone, it is important to have a plan and make your wishes clear to List the most important items in your estate plan. Your Legacy Legal Care includes a Memorandum Regarding Personal Property as part of your estate plan. So, check with your experienced estate planning attorney or tax accountant first. 

But the children’s attorneys disagree and plan to appeal. The kids’ attorneys plan to appeal the ruling because the previous wills show undue influence and how

Smart Business reports that there are many money-saving opportunities for businesses and individuals—via IRA conversions or Health Savings Accounts (HSA)—but it’s important to do so within the law and banking regulations to avoid hefty fines that can eliminate any savings. The article, “Money-saving financial tips for individuals and companies,” says that the unique feature of a Roth IRA retirement savings vehicle for individuals is that, unlike a traditional IRA, it lets you withdraw all of the funds in the account tax-free. However, be sure to read the fine print. If you earn $193,000 or more, you can’t contribute to a Roth IRA, but you can make contributions to a nondeductible IRA, which has no income limit. The bad thing is that the income accumulated is taxed at ordinary income rates when withdrawn. However, there’s a work-around: you can make contributions to a nondeductible IRA, and then convert it to a Roth IRA. Beware that if you convert a nondeductible IRA to a Roth, any IRA you have is considered converted on a pro rata basis, which could create ordinary income. Speak with an experienced attorney before moving forward. Likewise, an HSA can work like an IRA. Contributions go into the HSA on a tax deductible basis and can then grow tax-free, but it can only be used for medical expenses. However, if you can afford to pay for your health care expenses out of pocket, the HSA builds up tax-free and will accumulate indefinitely. You can use it to fund your health care through retirement or leave it to beneficiaries and they can use it for medical expenses. You can actually increase money saved for retirement or beneficiaries, just like an IRA. Reference: Smart Business (December 2, 2015) “Money-saving financial tips for individuals and companies” #IRAs #HoustonEstatePlanning #RothConversions #RothIRA #HSA

of your estate planning goals, that’s too bad. What you may not have is an estate plan that fits your current needs or desires. Working with an experienced estate planning attorney to craft a customized plan that incorporates and updates your existing estate planning documents is the best way to ensure that the estate plan you have is the plan you want.

raid savings for one expenditure to use for another and to make it easier for you to spend money as planned Check on your estate plan. Review the titling of your accounts, your beneficiary designations, and your estate planning documents Schedule a visit with your estate planning attorney to make the revisions.

Their plans may change over time, especially after important life events, like the birth of a grandchild Talk with your estate planning attorney. #HoustonAssetProtection #EstatePlanningLawyer #CaringforParents #ProbateAttorney #ParentsFinances #PlanningfortheFuture

The judge believes the resolution is in the teen’s best interests. Kira told the judge that she did not object to the settlement but needed more information than what has been given her by her guardian ad litem, Michael Augustine, who was appointed last September to advocate for the teen’s interests. Augustine denied the claim that he did not keep Kira informed about the settlement. He said he was pleased that the settlement was approved. He filed the will contest petition on behalf of the teenager and argued that when Kirk’s will was created, its beneficiaries “knew or should have known (Kirk Kerkorian’s) health was failing, that he was dependent on the persons surrounding him for his daily living needs and that he was highly susceptible to the influence of the persons on whom he depended.” Augustine’s petition also claimed that the will’s beneficiaries took advantage of the trust and confidence that Kirk placed in them and “suggested and dictated the contents of the document, arranged for the document to be drafted, arranged for execution of the document and caused (Kirk Kerkorian) to execute the document.” Kirk Kerkorian was obligated to provide $7 million to a trust created on Kira’s behalf based on his marital settlement agreement with ex-wife Lisa, the teen’s mother. Under the will contest settlement, another $1.5 million will be given to the teen’s trust. Lisa Bonder Kerkorian was married to Kirk for less than a month in 1999, and he denied during his lifetime that he was Kira’s father. However, he grew fond of the girl and decided to provide for her nonetheless. Kerkorian died last June at age 98. He developed numerous properties on the Las Vegas Strip, such as the MGM and MGM Grand. Kerkorian also invested in and operated businesses in a number of industries—including airlines, automakers, Chrysler Corp., General Motors and film studios. He bought MGM Studios three times, bought United Artists and tried to acquire Columbia Pictures. Reference: myLAnews.com (March 1, 2016) “I am my rich father’s child! Teen gets $8.5M as bio daughter of Kirk Kerkorian” #WillChanges #HoustonWills #Probate #ProbateCourt #Inheritance #LeagueCityProbateAttorney #HoustonEstatePlanningLawyer #Trusts