Husband with Alzheimer’s Proposed to Wife of 38 Years, and They Married Again. From Austin Texas Estate Planning Lawyer Liz Nielsen.

Austin Probate

Michael Joyce has Alzheimer’s and suffers from memory loss. The disease had progressed so much that he forgot he was married to his wife, Linda Joyce, of 38 years. However, he had not forgotten that he was in love with her. Recently, Michael asked Linda to marry him, again. Instead of telling him they were already married, Linda said “Of course I will.” To her surprise, the next morning Michael woke up and asked, “So, when are we doing this?”

Are Payable-On-Death Accounts Right For You? from Austin Estate Planning Lawyer Liz Nielsen

Payable-On-Death Accounts

A payable-on-death account, also called a POD account or sometimes a transfer-on-death (TOD) account, is a common way to keep bank and investment accounts out of probate, the court-supervised process that oversees distributing a deceased person’s property. Most people want to avoid their estate going through probate because their heirs will receive the inheritance faster, privately, and at lower cost.

Is a POD account an appropriate solution for your needs? Let’s examine what POD accounts do and how they fit into the overall picture.

How to Protect Your Child’s Inheritance from His or Her Untrustworthy Spouse from Austin Estate Planning Lawyer Liz Nielsen

Protecting Child's Inheritance by Austin Estate Planning Lawyer Liz Nielsen

Parents who develop an estate plan often do so to provide for their heirs financially. Many want to make sure hard-earned assets, family heirlooms, or closely held businesses stay within the family. Indeed, a common question is what cost effective options are available to protect one’s children’s inheritance from a spouse in the event of untrustworthiness or divorce. Thankfully, there are many ways to structure your child’s inheritance to help ensure it will remain in the family for future generations. Let’s look at a few of the options now.