Every now and then I come across a heartbreaking story about a father or mother passing away, leaving behind young children. Occasionally, it’s both parents, killed in a heartbreaking accident, and their kids are suddenly left as orphans. Each time I say a prayer and hope that there is a legal plan in place to…
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As the American population ages, adult children of seniors are scrambling to help their aging parents and protect themselves against the uncertainty in the legal system. So lets dig into some of the basic options available: Starting off with two important points worth understanding: First, Not all estate plans look the same. Each plan should be uniquely…
What Does a Durable Power of Attorney (“DPOA”) Accomplish? A durable power of attorney is a legal document that gives someone you choose (i.e., your agent) the power to perform in your place. A durable power of attorney simply means that the document stays in effect if you become incapacitated and unable to handle matters…
Even after working to take the necessary steps to build an estate plan, many Texans might still sow the seeds of family discord if the proper estate planning strategies are not used. Often, there is an issue with the division of assets and it has nothing to do with their equal distribution, but their fair…
Although sometimes not discussed, one of the most important legal issues that arises in the estate administration process is the valuation of the property of the estate. Valuation is principally important because putting the wrong value on a piece of property can mean the estate does not get divided properly in accordance with terms of…
Frequent Scenario: Someone passes away. Their surviving spouse is told by the bank that they need “Letters” to access a bank account. Surviving spouse finds a lawyer online and asks her to draft the letter. Surviving spouse is then frustrated to learn that she doesn’t really need a letter from a lawyer – but has to go…
Pet owners make a special commitment to their pets, but how do you address this commitment in your will? Pets are considered by law to be personal property, but to pet-parents, our animals are family. So how do you give your pets using a will? There are multiple options to arrange for the care of…
The common view of estate planning is that one needs to have substantial assets or must be in their golden years before thinking about creating an estate plan. But as times change and cultures change, the traditional customs surrounding estate planning also change. Estate planning is not limited to the wealthy or to the elderly….
Obtaining a full estate plan can be quite a task. One of the most difficult parts of having an estate plan drafted is deciding what you want to be included. For example, do you need a power of attorney, a living will or possibly both? Plenty of Texans don’t know the difference between the…
Guardianship: When Your Loved One Needs a Guardianship & Methods to Proactively Avoid a Guardianship Under Texas law, a guardianship is created through a court-administered person designated to take care of a minor or incapacitated person and their property interests. Guardianships are most needed when a loved one loses capacity to make their own decisions…