In Texas, there are many ways to transfer assets after death without going through probate. Real estate can pass by a right of survivorship deed or a transfer on death deed. Retirement accounts such as IRAs and 401(k)s allow for beneficiary designations, and life insurance policies have long included beneficiary designations. Even bank accounts held [...]
Nobody wants to see their estate plan contested upon their passing, so can you tell in advance that your plan is likely to be contested? What most people think of as a Will contest is a disgruntled heir who receives substantially less than others contending that the Will is totally invalid. Unless you have made [...]
Once you have completed your estate plan with your attorney, should you have a family meeting? In most cases, it is probably a good idea talk with the persons you have appointed in the various roles. You should have appointed a financial agent, a medical agent, an executor for a Will, and possibly guardians [...]
David Pyke here with a brief update on what is now known as the One Big Beautiful Act. You probably realize that this comprehensive tax package passed the Senate and the House and was signed into law by President Trump on July 4th. The most important aspect for me is how it impacts [...]
Hi, here’s a common question we get: Can my ex-spouse interfere with my estate? And the answer is, yes, they can. They can’t do it directly because an ex-spouse is not someone who will inherit from you, and if there was ever a will that left them anything, the divorce nullifies that will. [...]
It seems obvious that a person who has a severe mental illness, such as chronic schizophrenia, would be the exact type of person for whom a guardianship would be appropriate. The Texas Estates Code seems to support this position. To create a guardianship, the person must be "incapacitated" which the statute defines for an adult [...]
The Texas Estates Code provides templates for the language for a statutory durable power of attorney (financial) or a medical power of attorney. Therefore, these templates have been made into forms that are easily replicable. So, you don' t need an attorney, right? There are two critical disadvantages to attempting to draft your own power [...]
When discussions turn to what the United States Congress is doing, people usually fall into one of two camps: “Why isn't Congress doing something about _____?” “ I think it is always good news when Congress does nothing!” But for 2025, it is both anticipated and somewhat necessary that Congress do something with the Internal [...]
The only document that is needed, or available, to avoid guardianship in case of your incapacity is a medical power of attorney. This is a key document in everyone's estate plan. If you have named an agent and given them authority to make your medical decisions, with a properly executed medical power of attorney that [...]
Your Finances A recent study forecasted "a dramatic rise in the burden from dementia in the United States of the coming decades, with one in two Americans expected to experience cognitive difficulties after age 55" according to Dr. Josef Coresh, the study’s senior investigator and epidemiologist. Dr. Coresh is the founding director of the Optimal [...]