Can I Keep My Homestead Exemptions If I Transfer My Home to a Revocable Living Trust? In Texas, you can generally transfer your home into a revocable living trust and keep both your property tax homestead exemption and your homestead protection from creditors. The trust has to be drafted correctly so that it qualifies under […]
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You may have spent years building something valuable, but if you don’t have a plan, what happens to your business when you die may be decided by default rules, your business documents, or a probate court. Without proper planning, a business owner’s death can create uncertainty for family members, employees, business partners, and customers. What
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When Should I Update My Estate Plan?A common misconception in estate planning is that you sign the documents once, tuck them in a drawer, and you’re done. In reality, your estate plan is a snapshot of your life at a moment in time. As your life changes, your plan should keep up.So how do you
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Understanding Capacity in Estate Planning One of the quietest questions in estate planning is whether the person signing the documents has the capacity to do so. It’s a topic families may not think about until it becomes urgent, often when a loved one’s memory is fading, or after a death, when someone questions whether a
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What Is a Directive to Physicians (Living Will)? A Directive to Physicians is a written document that tells your doctors and loved ones what kinds of life-sustaining treatment you would or would not want if you reach a point where you can no longer communicate those wishes yourself. In Texas, it generally applies in two
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Powers of Attorney in Texas Most people think estate planning is about what happens after they die. But some of the most important documents in your plan deal with what happens if you’re alive but unable to make decisions. What Is a Power of Attorney? A power of attorney (POA) is a legal document in
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Naming Guardians for Minor Children For parents of minor children, few estate planning decisions are more important than choosing guardians. While it’s difficult to imagine someone else raising your children, designating guardians in your will ensures that if the unthinkable happens, your children will be cared for by people you trust rather than by someone
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Estate Planning for Blended Families: Marriage/Remarriage with Children from a Previous Relationship Blended families face unique estate planning challenges. Especially in cases where one party has gotten married or remarried and has children from a previous relationship. This can create the dual desire to provide for your current spouse while also ensuring your children from
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Transfer on Death Deeds For many Texans, their home is one of their most valuable asset. Naturally, they want to ensure it passes smoothly to their loved ones after death. One useful tool considered is the Transfer on Death Deed (also known as a TODD). What Is a Transfer on Death Deed? A Transfer on
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What Is a Trust? Basically speaking, a trust for property is a legal plan that consists of the grantor or settlor, the trustee, and beneficiaries. You (the grantor or settlor) transfer your property to the trust where someone you choose (the trustee) manages that property for the people you want to benefit (the beneficiaries). The
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