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Other folks who will have prenups drafted are those who marry later in life and have acquired assets 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

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

This gives the executor the authority to administer the decedent’s estate. If a loved one who has passed did his or her homework in advance of death and properly prepared and executed 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

One thing to note is that if assets are placed in a revocable or living trust, they cannot be controlled However, the court stays out of the probate and settlement affairs if the assets are under a revocable (living ) trust. If the beneficiaries live far from each other, documents will be mailed to them, which could delay communication Speak With an Attorney About Probate and the Settlement Process If you recently lost a loved one and

If your plan was done five years ago or longer, there might be a few changes in your life besides new Death of a trustee, executor or a guardian: If one of the individuals you designated dies or changes Use your common sense and think about what’s going on in your life and in the lives of your family and loved ones. estate-planning step” #AssetProtection #Guardianship #EstatePlanningLawyer #WillChanges #Inheritance #Wills #Trusts

There are states that have restrictions on non-family members serving as executors for those who live However, in other states, a living trust might be a better strategy if the probate process is more expensive Trusts are not subject to the probate process, unlike a will. In addition, if you move to a community property state like California, you will find that the law is

The first definition is a disease that a person will live with for many years. definition of chronic illness states “the person is unable to perform at least two activities of daily living For healthy people, a will or trust plans for the “what if?” Additionally, an estate planning lawyer in Houston can help you utilize tools such as trusts to protect A living trust can also give you the peace of mind knowing that your estate will easily be passed to

Instead of risking your desires being overlooked, it is prudent to relay your funeral wishes directly to trusted Property in Living Trusts Assets in a living trust are designated to bypass the probate process , making Mentioning these assets in your will can create confusion since they are already set to be managed by the trust To avoid legal ambiguities and potential disputes, keep trust-held assets separate from your will’s directives Whether you are seeking to develop and implement strategic asset protection, establish a special needs trust

real estate owned by a person does go through the Harris County probate court following the loss of a loved Life insurance is one such example where payouts go directly to the beneficiary. Life estate and inter vivos trust also are considered non-probate assets.   with rights of survivorship Retirement accounts such as IRAs or 401(k)s that have a beneficiary named Life insurance proceeds that do not have the estate named as a beneficiary Assets held in a living trust

It’s a pretty simple legal document that gives you the authority to make medical decisions and access The proxy covers a broad range of powers, and parents or other trusted individuals who are agents are on life support wants and stipulating organ donation and other post-mortem issues. Speak with your estate planning lawyer and appoint trusted family members or friends to make decisions If you don’t have a will, powers of attorney or living trust, find out which documents are appropriate

Litigation,” usually beneficiaries wait until after a person has passed away to challenge a will or trust However, with longer life spans and more accumulated wealth among the aging, impatient family members Dementia is a concern in many of these cases, with 5.3 million Americans—most over 65—living with Alzheimer In Redstone’s case, like many others, the situation is even more complicated because the judge has to in Competency Litigation” #AssetProtection #Incapacity #ProbateCourt #Inheritance #Dementia #Wills #Trusts

The percentage of unmarried couples living together has increased from a bit more than 1% of all couples Marriage offers many legal and financial protections, so if you’re planning to live together without create a “living together contract” or “relationship agreement.” net worth which would make you liable for federal estate tax, you should ask your attorney about a trust EstatePlanningLawyer #NoNup #DurablePowerofAttorney #WillCohabitation #PowerofAttorney #Wills #TaxPlanning #Trusts