When planning your estate, you might be worried about estate taxes. The good news is that for many families, this is not something you need to worry about. In Texas, there is no state inheritance or estate tax. Additionally, the federal gift and estate tax exclusion is currently very high, sitting at $11.58 million for […]
Estate planning offers many ways to leave your inheritance to your children, but it’s just as important to know what not to do. Here are some common estate planning mistakes that you should avoid. “Oral Wills” If you feel you have a good rapport with your family or don’t have many assets, you might be […]
How to Make Your Inheritance Last, from Austin Estate Planning Lawyer Liz Nielsen A 2012 study by Ohio State researcher Jay Zagorsky found that about one-third of Americans who receive an inheritance have negative savings within two years of getting their money, and of those who receive $100,000 or more, nearly one in five spend, […]
If you think you only need to create Discretionary Lifetime Trusts for young, troubled, or financially inexperienced beneficiaries, then think again. In this age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all your beneficiaries, minors and adults alike. What Is a Discretionary Lifetime Trust? A Discretionary Lifetime Trust […]
