
Can Beneficiary Designations Be Challenged?
Beneficiary designations are key in estate planning, deciding who gets assets after someone dies. But, what if these designations are questioned? We’ll look into how to contest beneficiary designations and why they can be challenged.
These designations are often used for life insurance, retirement accounts, and some bank accounts....
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Exploring Types of Trusts in Texas
Have you thought about how to make sure your assets go where you want, now and after you’re gone? In Texas, trusts are key to estate planning. They help manage and protect your wealth.
Knowing about the different trusts can improve your estate planning. You can choose from living...
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What’s a Trust Fund Baby? Explained Simply
Ever thought about if trust fund people are really just lazy rich kids? The term “trust fund baby” makes you think of a life without worries, but it’s not always true. We’re going to look into trust funds, how they work, and what it means to be a beneficiary. We’ll cover estate planning,...
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How to Change a Will in Texas: Legal Guide
Ever thought if changing your will after a big life event is needed? Or if things will just sort themselves out? In Texas, updating your will is a must to make sure your estate planning matches your current wishes and follows Texas probate law.
At our estate planning and probate...
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Digital Assets and Your Estate: Why Planning Ahead Matters
Did you know the average American has about 200 online accounts? These include financial accounts, social media, email, healthcare portals, and entertainment platforms. With so many digital footprints, managing digital assets is key in estate planning. Not planning for these assets can cause big financial and emotional problems for your loved ones after you’re gone.
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Can Medicaid Take Your House in Texas?
Can Medicaid take your house in Texas? The short answer is that Medicaid can seek to recover costs from the estate of a deceased Medicaid recipient, but it does not automatically take the house. This process, known as Medicaid Estate Recovery Program (MERP), aims to recoup costs for services provided. Understanding MERP and its implications...
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The Ultimate Guide: Trusts – Revocable vs Irrevocable
When considering estate planning, understanding the difference between revocable trust and irrevocable trust is crucial. A revocable trust allows the grantor to retain control and make changes at any time, offering great flexibility. In contrast, an irrevocable trust cannot be modified once established, providing stronger asset protection from creditors and potential tax benefits. Recognizing these distinctions helps in...
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Understanding Blind Trust : What It Is & How It Works
What is a blind trust? A blind trust is a special type of trust where the trustor (the person who sets up the trust) hands over control of their assets to a trustee (the person managing the trust) without knowing how the assets are managed. This setup is particularly useful for avoiding conflicts of interest,...
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Texas Probate Process: What You Need to Know
The probate process in Texas is key to estate administration. It makes sure a deceased person’s assets are given out legally, pays off debts, and ensures heirs and beneficiaries get what they should. Texas probate courts oversee this, following the Texas Estates Code.
Probate in Texas can take a long time, often six months to a year...
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Power of Attorney vs Executor of Estate : What’s The Diffrence
When planning for the future, understanding the difference between a Power of Attorney and an Executor of Estate is crucial. A Power of Attorney (POA) allows someone to make decisions on your behalf while you’re alive, particularly if you become incapacitated. In contrast, an Executor of Estate manages your affairs after you pass away, ensuring your...
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