A trust is a legal arrangement that allows you to place assets under the control of a trustee for the benefit of someone else. Instead of distributing assets outright, a trust provides structure, oversight, and long-term planning. Trusts are often used to: Protect beneficiaries from creditors Provide for minor or incapacitated beneficiaries Preserve needs-based government [...]
Many think the purpose of drafting a will is to avoid probate. When most people hear the word probate, they think "dispute". Probate doesn't mean disputed; it means the legal process of having the court recognize a person's will as their "last will" and that it's legally valid. And then, also appointing the person named in the will [...]
A stroke or other sudden medical events may leave a person with severely diminished capacity, including the inability to work, but they may have enough capacity to make their medical, financial, and legal decisions. The reality may be that although they have the minimal capacity to make those decisions that they need assistance. To be [...]
If you are contemplating remarrying, or are in a second marital relationship, what special concerns are there for your estate planning? The major issues are: Determining whose assets are whose; Deciding if you have a joint plan or two separate estate plans; and How to ensure that your estate plan succeeds if you are the [...]
A well-drafted Revocable Living Trust in another state should be fully enforceable in the State of Texas. In fact, the Trust should state that the law where the Trust was drafted is applicable, so moving to another state does not subject the Trust to a different set of laws. It is advisable that if you [...]
It will of course be a shock to learn of a loved one’s diagnosis of Alzheimer’s disease or other dementia. The first step will no doubt be to immediately seek preventative medical treatment, but it is just as important to consider the impact on your loved one’s assets and to seek advice on financial and [...]