The internet offers all the information and tools we need at our fingertips to create our own estate plan, right? For most people, this is simply not true. Several years ago, Consumer Reports®, an independent nonprofit consumer watchdog group, created wills using the forms provided by DIY websites and asked three law professors to review them. […]
According to the Pew Research Center, in 2017, there were 44.4 million foreign-born people living in the United States, 55% of whom were non-citizens As a result, there are many occasions when a non-citizen may be the beneficiary of the estate of a U.S. citizen, for example, if the non-citizen immigrant married a U.S. citizen. There […]
Bankruptcy may be one of the last things on your mind when you are creating an estate plan. Fortunately, the number of bankruptcy filings have declined as the economy has improved, but there were still a whopping 773,361 bankruptcy filings in the United States during the 12-month period ending June 30, 2019, according to statistics released […]
The structure of families has changed in the United States: According to statistics cited by the Pew Research Center, six out of ten women who remarry are in blended families, and in about half of those remarriages, stepchildren live with the remarried couple. If you or your grown children are part of a blended family, your […]
Have you considered what will happen to your automobile after your death? In 2019, it is projected that there will be 281.3 million registered vehicles in the United States,. (Texas, with an estimated 24 million, has almost 9%! California is estimated to have about 50% more). Your automobile is a valuable asset — as well as […]
Why would anyone want to refuse an inheritance? Although it is surprising to many, there are several circumstances when declining an inheritance can be beneficial. The law does permit you to refuse an inheritance if you comply with certain strict requirements. The legal term for a refusal of an inheritance is a “disclaimer,” which is defined […]
For each season, there is planning that you must do on the farm. In order to be successful, this planning must be done thoughtfully and in advance. Your life is no different. To properly plan for the next season in your life and the lives of your family, a well-executed estate plan is a must. Below […]
Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan must also […]
Yes, even the undead need an estate plan. Go ahead and laugh. But as we’ve learned from the likes of The Vampire Chronicles, the Twilight saga, and HBO’s True Blood, vampires aren’t immortal. They do die, and it’s usually unexpected and messy. While vampires aren’t necessarily good candidates for life insurance and probably don’t need a […]
You’ve said your goodbyes and your furniture and household goods are on a truck. Soon you’ll be heading to Austin, Texas, ready to enjoy the warm weather and slower pace of life. You may not have given much thought to what your move might mean for income and estate taxes. But you should, particularly if you […]
