Generational Planning Archives - Page 2 of 8

Are Pensions Treated the Same in Your Estate Plan as Other Retirement Accounts? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / June 11, 2024

The first private pension plan in the United States was established in the late 1800s. Through 1980, nearly 40 percent of Americans were covered by a traditional employer-funded pension. But employer-provided retirement plans have now largely shifted away from pensions to retirement savings vehicles like 401(k) plans and Individual Retirement Accounts (IRAs) that place most of […]

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Inspiring Action: The Guide to Creating or Updating Your Estate Plan from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / February 20, 2024

Creating or revising an estate plan can feel overwhelming, causing many people to procrastinate. Those procrastinators are among friends, as roughly 2/3 of Americans currently do not have any form of estate plan. However, the longer you put it off, the more potential there is to be caught unprepared in an emergency. So how can you […]

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Celebrating International LEGO Day from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / January 23, 2024

Mark your calendars: January 28 is International LEGO day, which celebrates the date when the patent for the globally famous plastic brick system was filed. Since the 1940s, people have been creating their own worlds, brick by brick, with LEGOs. With an estate plan, you can help your loved ones build a great future. Make your estate […]

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The Real Story Behind Trust Fund Kids from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / November 24, 2023

When we hear the phrase “trust fund kid,” words like “entitled,” “privileged,” and “financially irresponsible” might come to mind. But another word we should associate with “trust fund kid” is “protected.” Below we discuss some of the misconceptions of and benefits to being a trust fund kid. What Is a Trust Fund Kid? According to a […]

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The Difference Between a Trust and a Will by Nielsen Law’s Frances Chlebowski

Elizabeth Ziegler / September 15, 2023

It’s easy to feel overwhelmed by legal lingo when it comes to creating an estate plan. There are many legal strategies involved in estate planning, including wills, revocable living trusts, irrevocable living trusts, testamentary trusts, special needs trusts, and more. But what even is a trust – and what is the difference between a trust and […]

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Four Important Considerations If You Win the Lottery from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / April 11, 2023

On February 14, 2023, California state lottery officials named the winner of the largest lottery prize in United States history: Edwin Castro won an eye-popping $2.04 billion in a November 2022 lottery drawing, choosing a lump sum payment of $997.6 million instead of annual payments over three decades.[1] A lottery player in Maine recently won the […]

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Have You Thought Through Your Retirement Plans? from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / February 17, 2023

Beginning your retirement is a great milestone that is worth celebrating. You have put in many years of hard work, and you are now able to focus your energy on the next phase of your life. However, before you begin this next chapter, you need to make sure that you have fully thought through this exciting […]

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Pros and Cons of a Family Limited Partnership from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / January 27, 2023

Owning your own business or investment portfolio can be incredibly rewarding. However, to preserve the fruits of your labor and dedication, you must do everything you can to protect it. Whether you seek to protect yourself, your investments, and your family from taxes, creditors, or probate, a family limited partnership (FLP) is a strategy worth considering. […]

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An Introduction to Dynasty Trusts from Austin Estate Planning Attorney Liz Nielsen

Liz Nielsen / November 29, 2022

When people create estate plans, they typically focus on handing down their money and property to their children, grandchildren, and other living heirs. But some people want to leave behind a more enduring legacy. For those interested in multigenerational wealth transfer, dynasty trusts could be the answer. Dynasty trusts are relatively new to Texas. Up until […]

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Batman: The Masked Philanthropist from Austin Estate Planning Attorney Nielsen Law

Liz Nielsen / November 18, 2022

Among the superheroes, Batman is unique because he has no superpowers. Although he is trained in martial arts and possesses a range of high-tech gadgetry that allows him to fight crime, Batman is entirely human. He does not have genetic mutations, X-ray vision, overpowering physical strength, flying ability, genius-level intellect, or any other god-like powers. But […]