Search Results

Most people who have taken care of an aging relative can tell you there are many costs associated with might need someone besides yourself to start helping with household and personal tasks and/or home health As your loved one’s health declines, you may also have increased medical costs.  Annuities offer security for a steady stream of income with a low amount of risk. These types of plans typically have a higher cost and may have a maximum figure that can be applied to

While the most common things like bank accounts , retirement beneficiaries, life insurance beneficiaries Beneficiary designations on financial accounts rule over what you state in your Will. This means that if you change the beneficiary for a bank account on your Will from your ex-spouse to It is always best to review your beneficiary designations on any financial account you own (checking, savings, retirement, investment accounts, etc.), especially when you encounter a drastic change in your

In order to save for retirement, some individuals are considering converting their traditional IRAs to had the account for five years or more. A big benefit of Roth IRAs is that, unlike a traditional IRA or 401(k) account, there are no required Traditional IRA account holders who convert their accounts into a Roth IRA must pay income tax on the amount of the conversion.

Once all debts and taxes have been paid, the executor or administrator will distribute the remaining You will need these copies to close accounts, transfer assets, and handle other matters related to the You can obtain certified copies of a death certificate from the Texas Department of State Health Services If you have any questions or concerns, it’s important to consult with a probate attorney who can help This may involve closing accounts, transferring titles, and other legal processes.

Along the same lines, if you are married with young children and both parents die, then your failure Again, if you have minor children, you can name a guardian for them. A health care proxy allows you to choose someone to make medical decisions for you if you are unable

Those who plan well in advance have more options available to them than those who delay decision-making instance, the eligibility needs of the recipient of Medicaid can be denied if the person has assets or wealth The earlier you start planning, the more options you will have available. You can avoid this common mistake by having a discussion with your loved ones and an experienced Medicaid planning attorney about your options well in advance of any potential health issues that may arise in

You have planned your life carefully. With your spouse, you have drawn up a will and established trusts to organize your estate after your Together, you have put insurance policies in place for health, life, and disability. They also have the authority to change beneficiaries. What is the impact of divorce on retirement account beneficiaries?

Most people don’t think about estate planning until they have children or reach retirement age. If they had not been legally married, who would have made decisions on Odom’s behalf? assets one does have is a good idea. The document should also include a HIPAA release authorizing the agent or agents to access important health This document is what is used to access bank accounts, sign or break rental agreements, and withdraw

Your estate is comprised of all your assets, including real estate, bank accounts, investments, and personal Therefore, having a will is crucial to ensure your assets are distributed according to your preferences Physician, also known as a living will, allows you to specify what actions should be taken for your health It helps ensure your assets are distributed according to your wishes and can save your heirs from unnecessary They should be well-versed in Texas estate laws and have a track record of success.

is one of the smartest things that you can do to ensure that your small business meets the goals you have wishes are followed · Ease transition for the company · Protect the business from being dismantled · Save you think of your estate, you would probably include your home, your personal assets, and your bank accounts You will also want to have your lawyer explain the various tax implications that come along with your Specific sections of the tax codes have been designed to assist with the transition of businesses by

When you have a loved one with disabilities , there’s a lot that goes into planning for their future. It’s hard enough to cover their health costs, let alone figure out their finances should something happen These specialized accounts supply vital support for supplemental needs without messing with benefits accounts within a single trust administered by a nonprofit organization. A Texas estate planning attorney can help you with accounting and funding compliance issues.

Understanding the Elder Law Challenges LGBTQ+ Seniors Face Studies have shown that LGBTQ+ seniors are Many LGBTQ+ seniors do not have children or family members who can provide care and support in their When they do seek out healthcare, they may encounter providers who are not familiar with LGBTQ+ health have the same legal protections as their non-LGBTQ+ peers. may include creating a living will, setting up trusts, and designating beneficiaries for retirement accounts