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October 2016 Archives

The essential elements of estate planning in Texas

When most people in Texas think of planning for the future, they likely think of saving money for a big purchase or a vacation. For others, it involves planning for retirement. Regardless of what future event a person is considering, estate planning could potentially help meet financial goals. The process helps the living preserve and manage their assets. Once a person has passed away, having a solid estate plan controls the distribution of the estate according to his or her wishes.

Estate planning consideration for snowbirds

After people in Texas retire, they find that they have a great deal more flexibility in their life -- including where they choose to live. Rather than starting over completely new, some people opt to become so-called "snowbirds." Snowbirds are people who divide their time between two or more locations, often in an effort to avoid extreme weather. While a satisfying arrangement for many, it can create additional complications for estate planning.

Guarding against successful incompetency claim in estate planning

As people in Texas age, they start to think about how they would like their estates distributed after they pass away.  Many choose to work with an experienced estate planning professional to make sure their wishes are honored. Despite their efforts, some family members may choose to challenge an estate plan. As a result, many professionals offer advice that can either potentially dissuade a person from issuing a challenge or safeguard an estate if a plan is challenged.  

The purpose of a guardianship in Texas

Life is often unexpected. A person in Texas who may be perfectly healthy one day may be involved in a car accident or suffer an unexpected medical condition that leaves him or her unable to make decisions. As a result, he or she may become part of a guardianship.

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