Liz Nielsen, Author at Nielsen Law

Military Family Estate Planning Austin Texas

Estate Planning for Military Families

Liz Nielsen / November 6, 2017

With Veteran’s Day approaching, it is important to honor those that have served our country. This time is also a good opportunity for members of the military and their loved ones to consider setting up an – or revising an existing – estate plan. Military families need to consider special estate-planning issues that others do not. This is particularly true when one or more family members are deployed overseas. Beyond this, members of the military have access to special benefits and resources. This can become complicated and, for this reason, it is important that you seek special help if you are a military family.

Austin Texas Estate Planning Attorney Liz Nielsen

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5 Reasons to Embrace the Emotional Side of Estate Planning

Liz Nielsen / November 2, 2017

When you hear the phrase “estate plan,” you might first think about paperwork. Or your mind might land on some of the uncomfortable topics that estate planning confronts head-on: end-of-life decisions, incapacity, and your family’s legacy from generation to generation. Those subjects hit home for everyone.

Estate Planning Isn't Spooky Austin Wills and Trusts Attorney

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Estate Planning Isn’t Spooky! But not planning can be downright terrifying.

Liz Nielsen / October 30, 2017

The idea of implementing an estate plan might be one of the scariest things you have to confront as an adult. But estate planning does not have to make chills run down your spine. On the contrary, estate planning is empowering for both you and your family and allows you to live confidently knowing that things will be taken care of in the event of your passing or incapacity. Remember, estate planning is not just for the ultra-rich. If you own anything or have young children, you should have an estate plan. Read below to find out reasons why.

Naming Guardian from Austin Texas Estate Planning Attorney Liz Nielsen

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Do It Now: Name a Guardian for Your Minor Child(ren)

Liz Nielsen / October 26, 2017

Parents with minor children need to name someone to raise them (a guardian) in the event both parents should die before the child becomes an adult.

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If I Don’t Have an Estate, Do I Really Need an Estate Plan?

Liz Nielsen / October 23, 2017

Even if you wouldn’t ordinarily consider yourself the owner of an estate, it’s quite likely that you are.

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It’s National Estate Planning Awareness Week

Liz Nielsen / October 19, 2017

This week is National Estate Planning Awareness Week. Make sure your ducks are in a row by getting your estate plan in order.

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New Baby? Time to Create Your Estate Plan

Liz Nielsen / October 16, 2017

Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. The reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to start, or fear of contemplating death. Whatever the reason for not putting an estate plan together, it is important to understand that if you just had a baby – now is the time to meet with an estate planning attorney to implement a plan.

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How Does an IRA Fit Into Your Estate Plan?

Liz Nielsen / October 12, 2017

When you think of IRAs, you probably think of retirement. But what happens to your IRA money after you’re gone? The answer depends on how you go about creating your estate plan and selecting beneficiaries, and you might be surprised to find out that your money could end up with the wrong people or cause an unexpected tax bill if you don’t take action ahead of time.

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Does Your Estate Plan Protect Your Adult Beneficiaries?

Liz Nielsen / October 9, 2017

If you think you only need to create discretionary lifetime trusts for young beneficiaries, problem beneficiaries, or financially inexperienced beneficiaries, then think again. In this day and age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minor and adult alike.

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Planning for the Future (Without a Crystal Ball)

Liz Nielsen / October 5, 2017

Creating a will, trust, or any type of estate plan has always involved dealing with an uncertain future. Consider that just 20 years ago in 1997, the estate tax had an astonishing 55% rate with only a $600,000 exemption. Back then, tax-driven estate planning was a mathematical necessity for a large segment of the population.

Fast forward to 2017. Not only do we now have a generous $5.49 million exemption and a lower 40% rate, we also have renewed emphasis and action from the President and Congress on repealing the estate tax, as evidenced by the September 27, 2017 Unified Framework for Fixing Our Broken Tax Code. So what does this mean for you, as you’re planning for the future?

Author name: Liz Nielsen

Attorney Liz Nielsen