In the golden age of the smartphone, you’re never far from a camera. This has made the sharing of videos and photos easier than ever before. Easy access to a quality camera has led many people to wonder: can I make a video will? More importantly, folks are curious about whether such a “will” can hold […]
The average American family has changed a great deal over the last few decades. The assumption that a couple will share finances, tax obligations, and a last name is one that does not necessarily apply in the 21st century. There are more options than ever before to keep your finances, identity, and future plans separate. This […]
Estate planning for married couples can be tricky when one spouse is significantly wealthier than the other, and each spouse wants different beneficiaries to ultimately inherit his or her estate. One solution to this problem is the Lifetime QTIP Trust. What is a Lifetime QTIP Trust? One traditional estate planning model for married couples makes use […]
It is a common misconception that financial management and estate planning are useful for only the wealthy. But estate planning is not just for the wealthy. Regardless of how much you have in the bank, you and your family can benefit from planning ahead for the future. If you fail to do so, you could leave […]
Leaving your hard-earned assets outright to your children, grandchildren, or other beneficiaries after you die may seem like the easiest and most desired form of distribution. Unfortunately such a scheme will make their inheritance easy prey for creditors, predators, and divorcing spouses. Instead, consider using discretionary trusts for the benefit of each of your beneficiaries. What […]
For most people, thinking about your mortality is unpleasant and therefore low on the list of priorities. While you may objectively recognize the need to plan for your future – and the future of your loved ones after you’re gone – it can be hard to summon the motivation to actually create a will or trust. […]
You can’t take them with you, obviously. But under certain circumstances, you can transfer them to your heirs. Unfortunately, the rules vary widely from carrier to carrier. (Hotels have policies that are more similar to one another’s.) It’s important to know that all carriers consider miles to be property of the airline, not of the traveler. […]
The Obergefell decision of 2015, which legalized gay marriage in all 50 states including Texas, greatly impacted estate planning for same-sex couples. Married gay couples are now able to take advantage of the estate planning techniques that had previously only been available to heterosexual married couples. However, despite the change in the law, a smaller percentage […]
Many people believe that once they set up a revocable living trust and transfer assets into the trust, those assets are protected from lawsuits. This is absolutely not true. While Trusts commonly provide asset protection for beneficiaries, few trusts protect assets owned by the person who created the trust. No Immediate Asset Protection? Why Should You […]
In the first bank closure nationwide since 2017, the Texas Department of Banking closed Enloe State Bank in Cooper, Texas, on May 31, 2019. Although bank failures are uncommon, they are not rare: according to Bankrate.com, banks have failed in each of the last ten years, with the exception of 2018. Bank failures are significant because […]
