Author name: Liz Nielsen

Small Business Owner
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Small Business Owner? Know What Can Happen to Your Business If You Become Incapacitated or Pass Away from Austin Estate Planning Lawyer Liz Nielsen

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Preparing your company for your incapacity or death is vital to the survival of the enterprise. Otherwise, your business will be disrupted, harming your customers, employees, vendors, and ultimately, your family. For this reason, proactive financial planning — including your business and your estate plan — is key. Below are some tips on how to protect your company and keep the business on track and operating day-to-day in your absence.

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Successor Trustee
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What do Successor Trustees and Executors Do? from Austin Estate Planning Lawyer Liz Nielsen

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Executor’s Duties An executor, sometimes called a personal representative, is the person who is named in a will, appointed by the court, and responsible for probating the will and settling the estate. Depending on the state, an executor may work under court supervision or, as is often seen in Texas, may use so-called “independent” administration for […]

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estate planning bitcoin austin
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Bitcoin Should Be Part of Estate Planning, Too, from Austin Estate Planning Lawyer Liz Nielsen

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As more people are dipping their toes in to the secretive, and notoriously volatile, cryptocurrency markets, such as bitcoin, estate planning attorneys are starting to think about how to include those potentially valuable assets in their clients estate plans. According to this Barron’s article, the secretive nature of cryptocurrency, as well as its digital format, means […]

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Digital Assets from Austin Estate Planning Lawyer
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Estate Planning for your Digital Assets from Austin Estate Planning Lawyer Liz Nielsen

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These days, nearly everyone has email, a facebook account, and digital photos.  But what happens to your digital assets after you die?  According to a recent article in Scientific American, judges and lawmakers are only recently trying to figure out how to handle the ever-changing realm of digital technology. The article suggests starting with making a list […]

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Estate Planning after Tax Reform Austin Lawyer Liz Nielsen
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After Tax Reform, Is Estate Planning Still Necessary? from Austin Estate Planning Lawyer Liz Nielsen

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The new tax legislation raises the federal estate tax exemption to $11.2 million for individuals and $22.4 million for couples. The increase means that an exceedingly small number of estates (only about 1,800, nationally) will have to worry about federal estate taxes in 2018, according to estimates from the nonpartisan congressional Joint Committee on Taxation.

So, you may be wondering, is estate planning even still necessary?

To put it simply: Yes!

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

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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?”

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

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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.

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

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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.

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Elizabeth Nielsen
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