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For most people, in Houston included, living through the coronavirus pandemic has left us weary yet ready However, as with most things in life, if it is worth doing, it is worth doing properly. Check Your Life Insurance Policy The coronavirus pandemic has also brought along changes to the life insurance industry. Do not be afraid to get in touch with your insurer to go through your policy with you and see if any

Life insurance. If you’re starting a family, at least one parent most likely will need to have life insurance. Disability insurance. An umbrella liability insurance policy is a great asset-protection tool. insurance policies.

in life. They may be less likely to seek healthcare due to fear of discrimination or lack of access to LGBTQ+ This may include creating a living will, setting up trusts, and designating beneficiaries for retirement accounts and life insurance policies. Long-Term Care Planning Many LGBTQ+ seniors will require long-term care at some point in their lives.

’t be a deal breaker in remarriages,” that marriages can be more complex when they happen later in life have increased since 1960, so more divorcees may be looking to remarry; and (ii) Americans also are living benefit of a prenuptial agreement is that it frequently can mesh with a person’s estate plan—including life insurance, wills, trusts, retirement plans and beneficiary designations. create a trust that will pay interest income to the surviving dependent spouse for as long as he or she lives

With substantial assets and multiple sources of income, it is essential to ensure that everything is However, this status also depends on factors such as the cost of living and lifestyle. High-net-worth estate planning can help you minimize these taxes and ensure your beneficiaries receive Insurance planning — Insurance planning can help you ensure that your loved ones are provided for after You can use life insurance , disability insurance, and long-term care insurance to protect your family

of experienced estate planning and probate attorneys at Your Legacy Legal Care will work with you to ensure

Updating Your Estate Plan to Reflect Life Events In addition to updating your estate every three to five years, it is also important to update your plan after significant life events. Some of these major life changes include: Marital or domestic partnership changes for you or family members specific beneficiary documents, such as life insurance or retirement plans. Advanced directive or living will, which specifies your end-of-life care wishes and whether you consent

estate planning is important for married couples, it is arguably even more necessary for couples that live Without an estate plan, married couples would not be able to make end-of-life decisions or inherit from Designations Make sure to review the beneficiary designations on bank accounts, retirement funds, and life insurance to make sure your partner is named as the beneficiary, if that is your wish.

From the minute your first child is born, your life changes. It’s cliché, but it’s true. that someone who needs extra help and support will have it for his or her entire life. clothing, pay for special dental care, rent or buy a vehicle that accommodates a wheelchair, or even fund life-enriching It can really enrich your loved one’s life to have a trust they can depend on for things public assistance There are so many pieces of the puzzle that parents fit together to craft a rich, full life for a child

for the ages,” which has a generation-by-generation financial planning guide for different stages of life Insurance and estate planning have taken on greater importance, and retirement is no longer so far away Insurance is critical, so get enough life insurance to cover the mortgage, day-to-day living expenses Projections should include tax calculations, changes in insurance needs, and the likelihood of higher Also, look at long-term care insurance to hedge against the cost of future health issues that might require

We will explore whether you need a lawyer to probate a will in Texas, and how to ensure your assets are It ensures that the deceased's estate is properly managed and their wishes are respected. In essence, the court ensures the probate process is conducted in a fair and lawful manner. These steps ensure that the deceased's estate is properly managed and their wishes are respected. Assets can include real estate, bank accounts, life insurance, and much more.

Estate planning might seem like walking through a maze. A will is pivotal in ensuring your wishes are honored. But it’s not a catch-all solution. Beneficiary Designations Certain assets, including life insurance payouts, retirement accounts, and payable-on-death your beneficiary designations, especially after significant life events. 4. Property in Living Trusts Assets in a living trust are designated to bypass the probate process , making