Trusts

Why a Living Trust Should Anchor Your Estate Plan Instead of a Will

Will or trust? That is the question. No, this is not the opening of a bad Shakespearean tragedy – it’s the question most of us have to answer when considering our estate plans. Each of these asset transfer vehicles – a last will and testament (will) and a revocable living trust (trust) – has its advantages and disadvantages. But here are the reasons why we recommend all our clients start with a revocable living trust as the basis of their estate plan. 1. […]

How to Fund Your Revocable Living Trust

A revocable living trust (RLT) can be a great estate planning option to avoid probate and assure the private, and often seamless, transfer of your assets to your heirs. To be effective, however, your RLT must be funded properly, whether during your life or when you pass. The importance of funding a revocable living trust So you’ve consulted with an attorney and you’re now the proud owner of a revocable living trust. That’s great news, but if you don’t fund the trust timely […]

Should Your Texas LLC be Owned by a Trust?

The limited liability company (LLC) has become arguably the most popular business structure, because it offers personal liability protection for its member-owners and the flow-through tax advantages of an S corporation. Trusts are popular asset transfer vehicles that provide protection from creditors and probate avoidance. Using these two powerful planning tools together can create even greater asset and liability protection for business owners. So whether you’re still thinking about starting a company or already own an LLC, the benefits of this compelling combo […]

October is National Estate Planning Awareness Month

Okay, we have to own up to something. Officially, October 21-27, 2024 is National Estate Planning Awareness Week, but we are so passionate about providing peace of mind to our clients that we extended this important week into a whole month. It’s tough to convey all the value an estate plan brings you and your family in just one week, so we’ve decided to use the entire month of October to remind everyone of the importance of creating or maintaining an estate plan. […]

Have You Included a Personal Property Memorandum in Your Plan?

Congratulations! You’ve finished your will or living trust, and you’re basking in the peace of mind you’ve provided for you and your family. You pat yourself on the back, knowing that all your earthly possessions will be divided fairly and squarely amongst your loved ones, just as you wished. Life is good. But what happens if a few years down the road you decide to leave a specific asset to a specific person that wasn’t mentioned in your estate plan? Say you want […]

August is National Make-a-Will month

It’s our favorite month of the year. That’s right, August is National Make-a-Will month! It’s the month we remind everyone of the importance of creating or maintaining an estate plan. If you already have a plan in place, great job! You’re enjoying the comfort of knowing you and your family are protected. If it’s been a few years since you signed your documents, August is the perfect time to have your plan reviewed to make sure everything is still in order. Now if […]

11 Things to do in Texas Before You Die

Unfortunately this article is not about skydiving, visiting the Alamo, or riding a bull for the first time. Check out the Tim McGraw song or the Morgan Freeman movie if that’s what you were looking for. No, this is a more practical look at preparing for the inevitable. It’s easy to want to avoid discussing it, but it’s just as much a part of life as dream vacations and bull riding. Why wouldn’t you plan for it just like your retirement, your career, […]

If You Don’t Have a Will, You’re Not Alone – But That’s Not a Good Thing

A recent USA Today article noted that fewer older Americans have estate plans than ever before. This troubling trend should sound alarm bells throughout the land, but for a majority of Americans this is not news at all. In fact, it’s estimated that only about one third of adults have an estate plan. Of the two-thirds that don’t have any advanced planning in place, almost three-quarters are women. The statistics are downright worrisome, but why are so many of us foregoing this valuable […]

Estate Planning for Blended Families

For purposes of estate planning, a blended family is one where married couples have children from previous relationships or marriages. These families can include step children, half siblings, or even extended family members who live in the same household. It is very important to revisit your estate plan after a divorce or remarriage, especially when children are involved. The only way to make sure your children are protected in these situations is to have an estate plan in place that reflects your wishes. […]

Why You Should Avoid Do-It-Yourself Wills

I admit, it’s tempting. The lure of the instant solution, avoiding a stodgy lawyer’s office, saving money, and a easy way to check that project off your to-do list. I’m speaking of course about the myriad of online options for creating your own will or trust. It seems like they’re all over the internet these days. But like so many other things on the internet, you should be careful where you tread. Sometimes because you can doesn’t mean you should. Not that you’re […]

RESOURCES

Why a Living Trust Should Anchor Your Estate Plan Instead of a Will

How to Fund Your Revocable Living Trust

Should Your Texas LLC be Owned by a Trust?

October is National Estate Planning Awareness Month

Have You Included a Personal Property Memorandum in Your Plan?

August is National Make-a-Will month

11 Things to do in Texas Before You Die

If You Don’t Have a Will, You’re Not Alone – But That’s Not a Good Thing

Estate Planning for Blended Families

Why You Should Avoid Do-It-Yourself Wills

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