If you are planning your Texas estate, there are many ways to achieve this goal. Some people prefer to take care of a portion of their estate planning through joint tenancy, which occurs when two or more parties agree to share ownership of a property. What are the...
Every year, many people in Texas die without a will. Though the prospect of one's mortality may be depressing, it's still important to make the appropriate plans. Creating a will allows you to decide what you want to happen to your estate once you're gone. That can...
Every Texas adult will need to go through the estate planning process. Contrary to popular belief, this isn't a one-and-done type of deal. Rather, estate planning is an ongoing process that should be reviewed every three to five years to ensure that it's updated. If...
Probate is a legal process that addresses collecting a deceased person's assets, paying off their debts and distributing the remaining assets to those outlined in the person's will. This process can take months to years depending on the size of the deceased person's...
Each state has different laws surrounding wills and probate, so you need to check Texas law to ensure you do everything you need to do as an executor. Before you finalize the estate, you need to handle all tax and debt issues. Estate and income tax returns Based on...
Generally speaking, people look forward to inheriting money, real estate or other assets from their parents or grandparents. However, there are scenarios in which it may make more sense to decline the opportunity to receive ownership of a bank account, brokerage...
Tax season for most Texas residents offers an excellent time for everyone to also review their estate plans, and senior citizens are no different. In fact, it is probably more important for elders than anyone else. Knowing what would happen to personal assets in the...
As a prudent and sound-thinking Texas resident, you're into averting and not promoting disasters, right? We know that readers of our estate planning blog posts at the established central Texas law firm of Michalk, Beatty & Alcozer in Killeen peruse our entries for...
"Letting go can be difficult," writes a financial planner penning a recent article for an online publication. "Try to make it easier for those who remain," Buz Livingston adds.Livingston's focus relative to those statements is on estate planning, which comprises...
Yes, we presently live in uncertain and challenging times, but America has done so and prevailed with manifest strength in the past. Coping during an unprecedented period leads many people to fall back upon a core group of routine behaviors. Conversely, others...
