A medical power of attorney should be part of even the most basic estate planning documents that every adult (assuming mental capacity) should have. This is a document whereby you chose whom you want to act as your agent and any alternate if you lack...
It is not unusual that a widow or widower or someone who is elderly meets someone later in life and enjoys their companionship and love or simply enjoys traveling together. Living together without being married use to be considered strictly taboo, but the potential financial...
If you have an IRA, you are required to make a distribution annually once you reach a certain age (if you were 70½ prior to January 1, 2020, then you should already be making required minimum distributions known as “RMDs” – otherwise you could be...
Recent research and studies have shown a genetic link between Alzheimer’s Disease and gastrointestinal tract disorders. Although this doesn’t necessarily mean that gut disorders cause Alzheimer’s Disease, it does indicate that people with gut disorders may be at greater risk of developing Alzheimer’s Disease. As...
There are at least 11 types of deeds in Texas used in the transfer of real estate. Since deeds should be recorded in the deed records in the county where the property is located to give notice to the world, deeds should be notarized. The...
Many do not know about probate. There is much confusion as the process varies from state to state. The following explains 8 myths about probate. Myth No. 1: If you have a will, the court must always approve the will through probate. Wills do not always have...
It is not unusual for a parent to become estranged from a child. So, often parents consider different ways to handle their estate planning for the benefit or detriment of the estranged child. Some of the many reasons that I have been told include: (1)...
In drafting a will or a trust or in making a beneficiary designation, one of the most common questions that should be asked is “who would be entitled the share of my estate if a beneficiary predeceases me?” When you do not want to name...
Prior to the passage of the SECURE ACT, trusts named as a beneficiary of a retirement account could be prepared to stretch distributions (for tax-deferred growth) over the lifetime of the designated beneficiary. However, unless the beneficiary is either (1) a spouse; (2) someone less...
Transfer on Death Deeds (TODDs) are a simple tool to pass real estate after your death to avoid probate or an heirship determination. You can change your mind and cancel the deed. You can even name contingent beneficiaries. TODDs have no adverse tax consequences, do...
