Many of our clients self-direct their investments using discount brokerage firms or low-cost mutual funds. Some of our clients have done fabulously well in handling their investments; however, almost to a person, they do not believe anybody else in their family has the skill to handle it themselves. One option is to consider "retiring" from [...]
When you hear "estate planning", you probably think wills, trusts, and powers of attorney. That's what attorneys do think about. But estate planning is about transitioning your life. There is more than just transferring your assets, it is about transitioning the things you do and the ways people rely upon you. If you are a [...]
Affidavits of heirship are a shortcut procedure largely unauthorized by statute. The only statute that makes them effective is Texas Estates Code section 210.053 which states that a good faith purchaser, without the knowledge of an heir, can rely on an affidavit of heirship to obtain good title to property, except against certain undisclosed children [...]
Long-term care costs at an assisted living facility are scary. Even scarier right now is the thought of placing someone in a facility that then becomes a hot bed for COVID. If your loved one needs assistance, your choices are going to be narrow and expensive. You might be able to care for your loved [...]
The State of Texas has very generous debtor protection laws. As most know, we are the only state that provides an unlimited homestead exemption. There are many other exemptions, and with expert legal planning, you can protect almost all your assets! As but one example, it is important to understand the difference between community property [...]
The shock of COVID to our economy was dampened by the Paycheck Protection Program (PPP). You may have been beneficiary of a PPP loan because you either own a small business or your employer obtained such a loan. PPP loans are being rapidly depleted, if not already exhausted. Is that putting you in a precarious [...]
In the past, a fundamental part of estate tax planning was to imbed “bypass” trusts into wills. The purpose was to allow the surviving spouse to have the benefit of their spouse’s assets but not to have those assets merge into the survivor’s estate. So, when the estate tax exemption was only $1.5 million, incorrectly [...]
The rapidly evolving coronavirus (COVID-19) pandemic has profoundly affected the daily lives of most Americans. At the time of this writing, the State of Texas has 85 confirmed cases. Here in Dallas, the mayor recently ordered all public gatherings to be capped at 50 people, and that all restaurants to temporarily end dine in services. [...]
Texas has a legal system to protect persons who are unable to care for themselves due to physical and mental incapacity. After an individual is found to be incapacitated by clear and convincing evidence, and that it is in their best interest, the Court may appoint a guardian who has the legal authority to help [...]
On December 20, 2019, President Trump signed the Setting Every Community Up For Retirement Enhancement Act of 2019, better known as the SECURE ACT, into law. The law goes into effect on January 1, 2020 and it makes significant changes to retirement accounts. Here are some of the bigger changes. Increased RMD Age Under the [...]