Leaving a legacy for your children through a trust fund is a thoughtful and generous gesture. In Texas, trust funds offer a valuable tool for ensuring your children’s financial security and managing assets responsibly for their future. Establishing a trust can help you protect your assets, potentially reduce estate taxes, and avoid probate. However, navigating the complexities of trust...
Continue ReadingTrusts are a flexible tool that you can use to accomplish a vast array of estate planning goals. Often, people use a revocable trust so their estate can avoid probate court and excessive tax burdens. Revocable trusts also give their creators far more control over their assets than a will. One key trait of a revocable trust is that...
Continue ReadingThe terms, distribution, and management of a trust can be contentious, particularly if the person who established the trust dies. Litigation might be necessary to interpret the trust, alter its terms, or resolve management issues. But what is the process of trust litigation in Texas? Texas Trust Basics To understand the process of trust litigation in Texas, you must...
Continue ReadingAs anyone with a special needs person in their life might already know, there are a lot of details and things that need to be done in order to protect and care for your loved one in the best way possible. If you happen to have a loved one with special needs and you don’t have a Special Needs...
Continue ReadingParents who have an adult child with special needs must provide him or her with nutrition, clothing, and personal hygiene, transportation to work and appointments, reading notices and attending reviews, managing insurance forms, paying taxes, spending money and recreational and social interaction. Kiplinger’s article, “How to Plan Ahead for a Disabled Child’s Inheritance,” notes that, without a controlled environment and attentive support...
Continue ReadingA trust can be a valuable vehicle that lets you maximize tax-planning opportunities within your estate plan, detail exactly how you want to distribute your assets and make certain that your vision for your legacy is carried out precisely. Kiplinger’s recent article asks, “What Type of Trust Solution is Best for You?” The article notes that people often make one common mistake...
Continue ReadingWTOP’s article, “7 questions to ask when taking control of a trust,” says that while having more wealth at your disposal may give you an increased sense of security, it’s also natural to have some fears about making a poor decision with new wealth. However, asking a few questions may give you the information that you need to be more confident. What...
Continue ReadingThe new tax law will greatly decreases the number of people who will be subject to the federal estate tax. This does not mean you don’t need an estate plan. In fact, you need to review your plan now. Forbes’ recent article, “7 Reasons To Revisit Your Estate Plan, Trump Tax Law Aside,” says that even if one’s estate is unlikely to...
Continue ReadingCreating a trust can help assure that assets are distributed more quickly, bills are paid promptly and continuously and personal information about property and other assets remains private. The New York Times recently published an article, “Life After Your Death? Here’s Why You Should Have a Trust.” The article explained that trusts have often been thought of a way for wealthy people...
Continue Reading“An elderly Houston woman says an on-line coin seller, based in New York, took advantage of her loneliness to sell her $1.3 million in gold and silver coins at inflated prices.” Seventy-two-year-old Patricia Thomas recently sued the National Collector’s Mint in federal court in Houston, claiming that one of its sales representatives, under the guise of “checking in” with...
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