Estate planning

Wills are the most common testamentary instruments used in taxes. The law generally requires that people draft written wills and sign them. Traditional wills or formal wills are often transcribed by an attorney, signed by the testator and then signed by at least two...

If you are just starting your professional life, creating an estate plan might seem somewhat silly. After all, you might not yet have very many assets to protect. You also may be healthy, making an advance directive or health care power of attorney appear to be...

Regardless of your age or net worth, it is important to write a last will and testament. This important estate planning document describes what you want to happen to your assets after your death. If you are a parent, your will also can name a guardian to care for your...

Although discussing your death may feel unpleasant, it is essential to plan to ensure your family follows your wishes post-mortem. Unfortunately, after a loved one passes away, relatives can sometimes argue while fighting over inheritance and other issues while...

Community property states offer tax advantages to some married couples. Thanks to recent legislative changes, married people in common-law states, such as Texas, can now enjoy some of these advantages by establishing a community property trust. What is a community...

Most parents do not want to think about what would happen to their children if they both die. However, it is an important part of the estate planning process. Choosing a guardian for your child is not easy, as you want to find someone who shares your same parenting...

Your estate plan is an excellent place to discuss the distribution of your assets. You can provide guidance to your heirs and pass along your legacy. Optimizing asset distribution can make your gifts more meaningful to their recipients. A good strategy might also...

The purpose of an estate plan is to protect yourself and your family in case of an accident, sickness or death. An estate plan allows you to determine what to do with your assets if something happens to you. While the initial creation of an estate plan is essential,...

In Texas, biological children of decedents hold some of the strongest claims to an estate’s assets. When you have stepchildren and adopted children, though, you may have questions about their inheritance rights. If you have nonbiological children to whom you plan to...

Your business's succession plan protects your legacy. Most business owners create a succession plan to free them up to retire or to have a plan in place in case something happens to them. While all succession plans look different, there are some basics to creating a...