Liz Nielsen, Author at Nielsen Law

Are Pensions Treated the Same in Your Estate Plan as Other Retirement Accounts? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / June 11, 2024

The first private pension plan in the United States was established in the late 1800s. Through 1980, nearly 40 percent of Americans were covered by a traditional employer-funded pension. But employer-provided retirement plans have now largely shifted away from pensions to retirement savings vehicles like 401(k) plans and Individual Retirement Accounts (IRAs) that place most of […]

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What Can I Not Do as Trustmaker and Trustee of a Revocable Living Trust? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / May 28, 2024

Wills and living trusts are two of the most fundamental estate planning documents. While both accomplish the same primary objective in an estate plan of directing the distributions of your money and property to your desired beneficiaries after you pass away, a revocable living trust, often referred to simply as a living trust or an inter vivos […]

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If My Will Is Filed with the Court, Will It Go through Probate? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / May 21, 2024

Death is a personal and private affair that affects the deceased’s close family and friends. However, there is at least one aspect of death that may require state oversight: probate. But what does it mean to probate an estate and how does that different from when a the court requires a trusted helper to file a […]

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Passing the Torch: Smart Business Succession Strategies from Austin Business Planning Attorney John Glode

Liz Nielsen / May 14, 2024

For many business owners, their business is one of the most valuable and important things they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their home or finances. Effective business succession planning ensures a seamless […]

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How to Choose the Right Agent for Your Incapacity Plan from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / May 7, 2024

Many people believe that estate planning is only about planning for their death. But planning for what happens after you die is only one piece of the estate-planning puzzle. It is just as important to plan for what happens if you become unable to manage your own financial or medical affairs while you are alive (in […]

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What to Do When a Disability Throws Your Estate Plan into Chaos from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / April 30, 2024

As poet Robert Burns mused centuries ago, the best-laid plans of mice and men often go awry. Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency in life. A car accident, sudden illness, workplace injury, or chronic medical condition can force you to reevaluate the core assumptions you used to plan your […]

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Five Essential Legal Documents You Need for Incapacity Planning from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / April 23, 2024

Comprehensive estate planning involves more than just planning for your legacy after your death, avoiding probate, and reducing taxes. Good estate planning also appoints people to make legal, financial, and medical decisions for you if you are alive but unable to make those decisions for yourself (in other words, if you are incapacitated). While no one […]

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Who Will Care for Your Child When You Cannot? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / April 16, 2024

As a parent, you are responsible for the care of your minor child. In most circumstances, this means getting them up for school, making sure they are fed, and providing for other basic needs. However, what would happen if you and your child’s other parent were unable to care for them? It is important to note that […]

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Who Should Be the Trustee of a Third-Party Special Needs Trust? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / April 9, 2024

Family members with special needs may require assistance throughout their lives. If you want to ensure that a loved one with a disability is taken care of after you are gone, you can help manage resources for them by using a third-party special needs trust (SNT). Also known as a supplemental needs trust, a third-party SNT […]

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Demystifying Probate and the Executor’s Role from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / April 2, 2024

When creating a last will and testament (commonly known as a will), one of your most important considerations is who to choose to serve as the executor (sometimes called a personal representative) of your estate. As the name implies, the role of the executor is to execute the instructions that you provide in your will. You […]

Author name: Liz Nielsen

Attorney Liz Nielsen