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This inability to change ownership of your IRA can lead to gaps in planning for Medicaid and Veteran The quick solution is to overcome this by simply changing the IRA’s beneficiary to their trust.

There are many rules that can change from year to year and from state to state. Stay on top of the changing rules and make sure your estate plan will achieve your intended purpose of

Transferring Power of Attorney If a principal wishes to change their agent, they must revoke the existing be given the authority to notify any institutions, such as banks or healthcare providers, about the change When changes are needed, the principal must revoke the existing POA and create a new one. A Houston lawyer at Your Legacy Legal Care can help with identifying needs, assigning or changing agents

it’s also critical to review and revise your financial and estate plans regularly as your situation changes Medicaid is a complex and constantly changing area, so talk with an experienced elder law or Medicaid

This new unit will be charged with the investigation and prosecution of elder abuse cases and will be new law states that if a perpetrator knew the seniors didn’t have the mental faculties to agree to change

Proactive planning involves not only creating a comprehensive estate plan but also staying attuned to changes Life events such as marriages, births, divorces, or changes in financial status can significantly impact By revisiting and updating documents such as wills, trusts, and power of attorney regularly, individuals

You may think there is still room for changes in the future, such as having more children, grandchildren Check Your Life Insurance Policy The coronavirus pandemic has also brought along changes to the life Do not be afraid to get in touch with your insurer to go through your policy with you and see if any changes t Put Pressure on Yourself to Get a Perfect Estate Plan the First Time As well as bringing unwanted changes No matter how the pandemic is affecting your finances, we are not sure how long these changes will last

Avoid Family Disputes and Will Contests Heirs sometimes challenge wills in Texas probate court, especially Modify Plans Easily as Circumstances Change Wills become locked at the time of death, but trusts can You can amend the trust terms anytime if your relationships, financial situation, or intentions change It cannot be changed once created.

Name changes for adults and children The fact that we do both family law and estate planning makes sense These big life changes can trigger a support modification, but only if you bring it to the attention

We will delve into the role of an estate attorney in Texas, the importance of wills and trusts, and the Key components of a Texas estate plan include: Wills Trusts Powers of attorney Advance healthcare directives Key Estate Planning Documents In addition to wills and trusts, there are other important documents that Regular Updates: Adapting to Life Changes Estate planning is not a one and done. It's a dynamic process that should evolve with your life circumstances and changes in the law.

Dawn, who was just three years old when tragedy struck, claims her aunts’ recent accusation that her dad was responsible for the unsolved murder was intentionally hurtful and has no bearing on their fight over the estate. An article from DNA Info entitled, “Keep My Mother’s Murder out of Our Family Court Battle, Daughter Says,” explains that Dawn and her two aunts are fighting over the will of her grandmother and their mother, Marcia. The aunts claim that Dawn and her dad and lawyer Mitchell Lapidus stole at least $10 million in the last years of Marcia’s life, when she was mentally incapacitated. The aunts believe that Franklin Mark hired a hit man to kill his wife, Gail, in 1982. The two brought up the murder in the court case because they want to depose Lapidus, who helped draft Marcia’s final will. The will leaves $8 million to the United States Holocaust Memorial Museum and the remainder of her estate to Dawn, according to court records. Whether the tactics will work in challenging the will remain to be seen, but the New York Police Department re-opened an investigation into the murder after the website’s story. Reference: DNA Info (November 19, 2015) “Keep My Mother’s Murder Out of Our Family Court Battle, Daughter Says” #EstatePlanningLawyer #ProbateAttorney #HoustonEstatePlanning #WillChanges #HoustonWills #ProbateCourt #Inheritance #HoustonProbate

Estate planning needs to change over your lifetime (believe it or not, it is not a “one and done” thing Any significant life change can warrant an update to your existing estate documents. More importantly, when a spouse passes away, things change yet again with new designations, appointment a good idea to give an experienced estate planning and elder law attorney a call to determine which changes Help for Maintaining Your Estate Plans Life changes fast, and often unexpectedly.