Over the course of your life, you will likely accumulate several assets of value. Some of these assets will be sentimental in nature (e.g., jewelry or artwork), while others will be strictly financial (e.g., retirement accounts). As you get older, you may start...
Taking Legal Challenges Head-On
Estate Planning
Should I use estate planning to protect assets from creditors?
Estate planning is not just about making sure that a person can pass down their property to their loved ones. Depending on a Texas resident’s situation, they may also want to consider using estate planning as a way to protect their own assets from their...
Items to consider including in an estate plan
When people think of an estate plan, the terms will and trust may come to mind. While those documents are certainly part of an estate plan, they are not the only ones to consider including. Will and trust A will specifies a person’s wishes for how their assets are...
Understanding the probate process
A person can create a will that outlines their wishes for how their property is managed after their death. The probate process is the procedure through which a deceased person's estate is settled and their assets are distributed to beneficiaries. If the deceased...
Estate planning rates lower among middle-aged adults
By now, you hopefully know how important it is to set up an estate plan, no matter your age, occupation or health status. Having an estate plan in place gives you and your loved ones security and peace of mind. You know that if something happens to you, your estate...
Creating a revocable living trust
As you begin the estate planning process, you should know that you have many tools at your disposal in addition to a standard will. For example, you may consider a revocable trust to transfer your assets to your loved ones after you are gone. A revocable trust is...
Four ways to help ensure you can cover long-term care costs
The possibility that you’ll need long-term care at some point in your life is significant. In fact, some studies show that about 70% of all people over the age of 65 will need some sort of long-term care in their lifetime, and 20% will need that care to last longer...
Common estate planning mistakes
You’ve decided to create an estate plan, which is a great choice. Your estate plan may include various items, such as a will, trust, power of attorney or guardianship documents. What you need as part of your estate plan depends on your specific situation. Once you...
Kids and estate planning
With kids come new responsibilities. Some are obvious, like getting a car seat and baby proofing your home, but other new responsibilities are not as obvious. One of those responsibilities is updating your estate plan. Guardianship The first responsibility is making...
What do I need to do with my estate plan after divorce?
In the middle of a divorce, it might be easy for a Kauffman County resident to forget some important financial and legal details that do not directly involve their divorce. They may do so simply because in the big scheme of things, these details are not priorities....