A common misconception is that there is one type of power that covers everything from financial to medical decisions. Even many who realize there should be different documents for medical and financial decisions, they are unaware of the variety of financial powers of attorney. The...
Avoiding capital gains tax is often considered in estate planning. Now some are considering “upstream planning” when a child has highly appreciated assets and his or her elderly parent does not have a taxable estate (for estate tax purposes). Generally, if you own an asset (i.e.,...
Although planning for disability and death should always be considered in estate planning, the potential need for public benefits or loss of valuable public benefits (such as Medicaid or Veterans’ benefits) should not be overlooked. The following are a few examples of what planning options...
Scams seem to be increasing daily. Deed fraud (attempted transfer of property without the knowledge and consent of the true owner) could be on the rise. Criminals sometime forge deeds, have the deed notarized and record it with the county clerk where the property is...
Oregon was the first state to permit physician-assisted suicide in 1997, but this past month Vermont became the first state to have a law that does not require residency in the state to participate. Vermont previously permitted physician-assisted suicide, but it changed its law to...
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...
Texas law does not provide domestic partners or significant others the same home protection rights as a surviving spouse. If you are married, your surviving spouse has a right to live in the homestead of the deceased spouse for the remainder of the surviving spouse’s...
Financial powers of attorney may be the most (if not one of the most) important documents that almost everyone should have as illustrated by the following sad (but true) story: Husband dies (with a Will) and leaves everything (although the estate is not large) to wife....
A common question by someone who has been appointed as an executor of a Will after the Will has been probated (the process where it is determined the decedent’s Will is valid) is “What can I charge for acting as Executor?” After all, it often...
Although conditional bequests in a will or trust are normally upheld to give freedom that your assets pass the way you want at your death, sometimes conditional provisions are held to be either unconstitutional or void against public policy. The request for a new trial of a death row...
