According to a study conducted by Caring.com, the percentage of people aged fifty-five and older who have created a will has fallen in the past two years, from 60 percent to 44 percent since 2019.[1] Although creating or updating your estate planning may seem like a daunting task, a proper estate plan can help answer […]
Family
Multigenerational Wealth Transfer Checklist from Austin Estate Planning Attorney Liz Nielsen
Studies estimate that 70 percent of family wealth is lost by the end of the second generation and 90 percent by the end of the third generation.[1] To help your loved ones avoid becoming part of this multigenerational wealth transfer statistic, you need to educate and update your family about your wealth transfer goals and the […]
Fears When Talking about Estate Planning and Money from Austin Estate Planning Attorney Liz Nielsen
Studies[1] have shown that the largest contributing factors to generational loss of wealth are a lack of communication and trust among family members and the failure to prepare heirs.[2] Often, fear is what underlies the lack of communication and trust that inevitably leads to unprepared heirs. The following are some of the fears that prevent […]
To Have, but Not to Hold? Common Law Marriage and Estate Planning From Austin Estate Planning Attorney Liz Nielsen
Marriage as a legal institution has taken a variety of forms throughout history. As society evolves, how we identify marriage in our society also changes. While not lawful everywhere, in Texas a couple may be deemed married without having participated in judicial or religious ceremonies. These marriages are called common law marriages. Their existence creates […]