Britney Spears, as almost everyone knows, had been under “conservatorship” in California. What does that mean? Do not try to make me understand California “law”, but if Britney was a Texan, we wouldn’t call it conservatorship. We would call it guardianship, and Ms. Spears would likely never have had a guardian for her as an [...]
House and Senate Democrats are working with the Biden administration to pass legislation to fund their infrastructure initiatives, including wide-ranging social programs, and tax legislation to pay for those programs, at least in part. The House Ways and Means Committee released their tax proposals on September 13 and they have wide-ranging effects on high income [...]
In Texas, guardianship is the legal process where one person is granted legal control over another person's affairs. There are broadly two types of guardianships: guardianship of the person and guardianship of the estate. A guardianship of the person is to be granted control over the decision-making authority of another, usually to make medical, residential, [...]
Congress has passed an infrastructure spending bill and is considering a much larger package proposed by President Biden, and with new spending comes potential new tax legislation to pay for it. Has the bill that has passed and the proposals on the table impacted estate tax planning? The simple answer is "not so far." The [...]
If you own property, your estate will be better handled if you have a Will. However, if a loved one has died without a Will, you need to know your best options. For most estates, the best answer is opening an administration and a formal declaration of heirship. Although more expensive than probating a Will, [...]
Whatever you call it -- an advanced directive, living will, a do not resuscitate order (DNR) -- they are all the same thing. Right? Although a “living will” is an imprecise term for what Texas law refers to as an advanced directive, a DNR is totally different. The Texas advanced directive law allows a person, [...]
Family farms and ranches often are intended to pass through multiple generations without being sold. If every member of the family is a model citizen, that may not be a significant problem; however, if even one member of the family has creditor or severe medical problems, that can threaten ownership of the family farm. If [...]
A family farm or ranch may be a treasured possession, but without effective estate planning, this treasure can turn to rust. Without any Will, or with the most common type of Will, ownership of family farms gets split among children and grandchildren through each passing generation. As each person dies, to correctly transfer the family [...]
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 [...]