Your retirement account provides asset protection during your lifetime, but as soon as you pass that account to a loved one, that protection evaporates. When a loved one inherits your retirement account, creditors can seize it and use the funds to satisfy their claims. All it takes is one lawsuit and your life savings could […]
Although spouses receive special treatment when inheriting a retirement account such as an IRA (the ability to roll over the account into a personal retirement account and to stretch the distributions over their lifetime), the retirement account you leave for your spouse can still be seized in a divorce, a lawsuit, or a bankruptcy proceeding. […]
The most common stated goal of estate planning is to avoid probate. While a relatively straightforward process in Texas, probate can be somewhat costly and does require a time investment. Finally, when probating a will, that information becomes a matter of public record, all of which most people prefer to avoid. Whether or not your […]
With our society becoming increasingly mobile and international travel becoming more affordable than ever before, families and family-like relationships have steadily grown far more diverse in terms of citizenship. It is no longer uncommon for spouses from different countries to retain citizenship in their homelands. Many couples split their time between the United States and […]
