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April 2017 Archives

Set up a special needs trust to protect your child's benefits

Parents in Texas who have special needs children have unique concerns when it comes to passing their assets on after their deaths. For instance, a disabled person can have his or her government benefits revoked if he or she experiences increased cash flow or receives assets from a parent's estate. It may seem wrong, but it is how things work. A special needs trust can keep this from happening.

Take the time to prepare a will

Quite a few people in Texas and elsewhere do not have estate plans in place. Each has his or her own reason as to why not. However, taking the time to prepare a will is not something that one should put off for too long.

Thinking about preparing a generation skipping trust?

Whether you reside in Texas or elsewhere, when planning your estate it is reasonable to want to minimize how much Uncle Sam has the right to claim. A trust can help address some of the tax concerns you have, but what kind is best for your situation? For some, a generation skipping trust may provide the protections desired.

Is adding someone to a property deed a good estate planning move?

When it comes to planning one's estate, people will do quite a few things and jump through a lot of hoops in order to avoid the need for probate. One thing that some individuals will do, whether they reside in Texas or elsewhere, is add loved ones to their property deeds -- such as the deed to a house. This makes them co-owners and prevents the properties from being subject to the probate process. While this can work, is it the best estate planning move?


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