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A Generation of Entitlement? Although previous generations often passed down significant amounts of money, and the Baby Boomer generation By relying upon parents, grandparents, and older generations to supply them with the finances to help (the second most generous country) for individuals to leave their assets to family, friends, charity,

One of the most enjoyable parts of being a Harris County estate lawyer is helping clients set up trusts Knowing that they have the ability to positively impact future generations or even a cause they care A “directed trustee” is chosen to look after the trust according to specific instructions from you. These may include professional companies that do nothing but administer trusts. directed trustee and others involved with the trust.

As a Houston will and trust lawyer, I can confidently say that estate plans are not one-size-fits-all client’s child was unable to properly handle their finances , and the parents preferred to set up a trust This is a danger and a huge reason for working with a Houston will and trust lawyer to ensure that your

I know you trust your child completely, but there is always a possibility that your child may change

parent of a disabled child is to speak to an estate lawyer in Houston to establish a special needs trust The best solution is to create a third-party special needs trust or SNT. A trust is an asset administered by a third-party trustee on behalf of a beneficiary. The money in the trust is belongs to the trust and is spent solely on behalf of the beneficiary. The trust can help to cover costs beyond what Medicaid and SSI provide, like dental care, transportation

worked with an experienced and reputable estate planning attorney and the wording of his will and/or trust Battles Coming For Muhammad Ali Estate, But It Should Emerge Victorious” #Probate #Inheritance #Wills #Trusts

While you’re at it, put all other estate planning documents in place, like a will, trusts, powers of #AssetProtection #Will #PrenuptialAgreement #PowersofAttorney #HealthCareDirectives #Trusts #estateplanning

agreement is that it frequently can mesh with a person’s estate plan—including life insurance, wills, trusts entering into a second marriage with more assets than the other spouse can leverage a prenup to create a trust When that person dies, the money from the trust is distributed to the children of the first spouse who shouldn’t be a deal breaker in remarriages” #AssetProtection #PrenuptialAgreement #Inheritance #Wills #Trusts

For those who die without a will or trust, their state laws determine to whom estate assets pass. First, know that some families are shattered by jealousy, animosity and a lack of trust when a parent A big reason family wealth erodes is a lack of communication, understanding and trust among family members and encouraging sound investing; talking about methods of transfer—including direct gifts, the use of trusts Wealth Transfer Plan” #AssetProtection #EstatePlanningLawyer #WealthTransferPlan #Inheritance #Wills #Trusts

Because of this, some folks chose to create revocable trusts and pour over their testamentary assets into their trusts. 101.5 (May 27, 2016) “What probate means for your estate” #Intestacy #Executor #ProbateCourt #Wills #Trusts

Death of a trustee, executor or a guardian: If one of the individuals you designated dies or changes estate-planning step” #AssetProtection #Guardianship #EstatePlanningLawyer #WillChanges #Inheritance #Wills #Trusts

Litigation,” usually beneficiaries wait until after a person has passed away to challenge a will or trust In such cases, general practitioners must conduct them, and they may not be familiar with the nuances problems—like when judges who aren’t lawyers rule on probate matters or states assign probate cases to general in Competency Litigation” #AssetProtection #Incapacity #ProbateCourt #Inheritance #Dementia #Wills #Trusts