The quick answer is a resounding “Yes!” that you do need a will, even if you are single. Single people can still be parents, responsible for the care of a child or parent, or part owners of a business, or have assets that are better distributed than left to chance on a distribution against their …
If you care for a loved one as a guardian, questions about the relationship between a guardian and their ward or estate are likely at the forefront of your mind. Texas expects a lot from guardians, and a guardian has legal obligations to protect the interests of their ward or estate. We hope to answer …
What Is The Difference Between Permanent And Temporary Guardianships In Texas? Read More »
Many people with disabilities and special needs depend on programs like Social Security and Medicaid to provide income and health care. However, these benefits have an asset and income threshold, and people may lose their eligibility to receive the benefits unless they meet the financial requirements. The ABLE act was established to help eligible individuals …
ABLE Accounts: For People With Disabilities In Texas Read More »
Not all property transfers are the same. There are several types of property transfers in Texas, some more restrictive or less durable than others. A common form of limited property transfer is a life estate, an estate with a life-limited duration. The limited nature of this kind of property transfer has unique duties and rights. …
Creating a Texas guardianship is necessary to protect an individual who cannot care for or protect themself. This situation can occur when a person has a mental deficiency, sustains an injury following an accident, experiences memory loss due to old age, or has had a traumatic brain injury. When a guardian is needed, there are …
Using the Least Restrictive Alternatives to Avoid Guardianship Read More »
During the process of estate planning, we address the need for properly handling property transfers via the creation of a trust. Many people think that a trust is something that only people with a lot of money do or that it’s an allowance for your heirs after you die. In fact, anyone who has assets …
The idea of disability and incapacity are often used interchangeably in the general public. In relation to guardianship, if an individual is disabled or incapacitated, it will help determine the best alternatives in setting up an appropriate guardianship for that individual. In a broad sense, these terms are useful to describe the challenges or limitations …
What Is the Difference Between Disability and Incapacity in Relation to Guardianship? Read More »
There are many alternatives to declaring a guardianship over an individual. The idea of an alternative to guardianship is appealing to many people, because it will allow the individual to retain some independence in making life decisions. If there are family members or close friends who are willing to take on the role to help …
When you’re married and want to plan for the future, your estate plan should include ways to pass on your assets without making your spouse go through probate. There are a few ways to do this, so that your spouse spends less time in court and obtains the assets they need much sooner. Some of …
Is there a way to transfer assets to a spouse to avoid probate? Read More »
A Qualified Terminable Interest Property Trust (QTIP) is a marital deduction trust that is an irrevocable marital trust between spouses, to ensure a decedent’s property will give lifetime income to a surviving spouse. After the death of the surviving spouse, the QTIP will then pass the property to other named beneficiaries. The QTIP differs from …
What Are QTIP Trusts and Why Married Couples Should Get One? Read More »
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