Receiving an inheritance is a huge blessing but, if not handled properly, can also become a curse. Often times, the inheritor does not know what to do with the new asset and runs into financial trouble, squandering most, if not all of it. This could happen due to the inheritor having outstanding creditor issues or […]
Generational Planning
Do Your Parents Have an Estate Plan? From Austin Estate Planning Lawyer Liz Nielsen
If you find yourself in the “sandwich generation” (someone who is caring for both your children as well as your parents simultaneously), you need to know whether or not your parents have put together an estate plan. While it is still your parent’s choice to make estate planning decisions, having a plan — no matter […]
How to Successfully Make a “Large” Gift to Your Children or Grandchildren from Austin Estate Planning Lawyer Liz Nielsen
What constitutes a “large” gift can be relative. That being said, if you are considering giving cash or property to someone, a little bit of planning can really help avoid negative consequences. This is particularly true if the gifted amounts are over $15,000.00, will be gifted in property, will be gifted on a regular basis, […]
Retirement Planning for Business Owners from Austin Estate Planning Lawyer Liz Nielsen
For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings. But, for business owners, planning for retirement requires proactivity and strategy. It’s not just the dizzying array of choices for retirement accounts; there’s also planning for the business […]