A home is often one of the most important assets that people own. Therefore, most people want to stay in their home until they die and then have a loved one receive it. One common way to pass a home to loved ones is through a will. However, transferring real property with a will requires […]
Asset Protection
The Trust Protection Myth: Your Revocable Trust Protects Against Lawsuits, By Austin Estate Planning Attorney Liz Nielsen
Many people believe the trust protection myth, i.e. they believe that once they create a revocable living trust and change the ownership of their accounts and property from themselves as individuals to their trust, those accounts and property are protected from lawsuits. This is not true. While trusts commonly protect a beneficiary’s inheritance, few trusts […]
Should I Buy a Home with Someone Other than a Spouse? From Austin Estate Planning Attorney Liz Nielsen
Rising housing costs, the desire for companionship, and the need to share resources are increasingly leading buyers to consider co-ownership of a home with someone other than a spouse, such as a friend, relative, or significant other. Although this arrangement can be beneficial on several levels, it should be approached with open communication, careful planning, […]
Have You Checked Your Beneficiary Designations Lately? From Austin Estate Planning Attorney Liz Nielsen
You regularly check the balances of your retirement, bank, and investment accounts. But when was the last time you checked the beneficiary designations on these accounts (and really, all the other accounts that allow you to name a beneficiary)? It may have been years since you first opened an individual retirement account, bought a life […]