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The Des Moines Register’s article, “How to assist your aging parents with their finances,” points out 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

As you get nearer to retirement, there is more pressure to plan ahead. Spending too much, planning too little and enjoying too late. Unfortunately, they don’t have a plan to address their income needs, so they withdraw too much too fast This requires planning ahead, which is far better than living with regrets.

One of the cool things about 529 plans is that you can change the beneficiary to another qualifying family Another benefit of 529 plans is that there is no time limit on when you must spend the savings, which In addition, your estate planning attorney may suggest that you one day use a 529 plan as an estate-planning tool. 529 plans offer a unique opportunity: the value is removed from your taxable estate, but you are You cannot take a principal-only withdrawal from your 529 plan.

Your Trust Options Depending on your retirement plan and other existing accounts, different types of Estate planning can be stressful and at times emotional process, but when it comes to trusts, an experienced Estate planning can be complicated. If you have questions about the benefits of trusts or estate planning in general, please feel free to

Small Estate Affidavit – This administration is used to collect a small amount of money owed to the estate The entire assets of the estate, aside from the homestead, must be less than $50,000 and 30 days must or will not sign a small estate affidavit. There must be no debts due on the real estate. If not, the court will appoint an Independent Administration of the Estate.

If you are married and own property you intend to gift, ask your estate planning attorney to check state This includes retirement plans (401(k)s, 403(b)s, etc.), IRAs, bank accounts, and insurance policies. Consult with an experienced estate planning attorney for help in creating this documentation as part of your estate plan. Reference: Sonoma County Gazette (March 1, 2016) “6 Basic Steps to Legacy Planning” #HealthCareDirective

Asset protection plans can vary, and when you meet with a member of our team, we will create a custom plan for your specific situation. Yes, the law allows you to create all kinds of plans to shield your assets. Not only can you plan here in Texas, but you can plan in other states to shield your assets in other When Is the Best Time to Start Planning to Protect My Assets?

While an inheritance is a natural part of estate planning, there are a few different reasons that some This special type of Trust is created as part of your estate plan and can actually dictate that the money child with a disability being in a position where they need to survive without them, it is important to plan ahead for these types of issues with proper estate planning.

First of all, probate is the name of the legal process that takes place to distribute a person’s estate With some exceptions, such as trusts, life insurance payments, retirement plans, and a few other things An “estate” is not just a term used for rich people.  individual passes away, someone will need to petition the court to be named as the Executor of the estate the property has been distributed, the executor and probate lawyer will follow up to make sure the estate

#AssetProtection #EstatePlanningLawyer #PlanningfortheFuture #Dementia #PowerofAttorney #ElderLaw

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

protecting your assets and passing them on to the next generation, it is time to talk to an experienced estate planning attorney. You can take the law into your own hands by crafting a custom-made asset protection plan that fulfils It is unnecessarily risky to rely on the default legal rules or a cookie-cutter plan you could print