Many clients have asked me how to insure that a bank account or investment account passes to a particular person (spouse or child) without having to wait until a Will is probated. First, I would like to remind you that the amount of time its takes to probate an estate in Texas depends to a …
Continue reading “Joint Accounts with Right of Survivorship”
Don’t allow ongoing political and financial uncertainties to hold you back from providing tax-free gifts that can benefit your family. Despite the speculation surrounding these matters, you still have the opportunity to make tax-free annual exclusion, medical-payment, and educational gifts. By taking advantage of these gift options, you can support and contribute to the …
It’s never too early to start preparing for the inevitable – that one day your parents will become too old and dependent on your support. And one of the toughest realities that you will need to face is financing your parents’ care in their old age. Here’s a short list of strategies to help …
Occasionally, I am approached by someone who wants to convey property by an Assumption. An Assumption is a means by which a Buyer may assume or take over the mortgage of the Seller. The parties will exchange an Assumption Deed which provides the Buyer title to the property with the requirement to make the Seller’s …
A common nonprobate asset is an investment account with either a named beneficiary or designated to transfer on death. When you name beneficiaries for non-probate assets, it can have various implications for each person. The outcome may vary based on individual circumstances and goals. It is important to understand that there could be potential …
Financial abuse and fraud targeting older individuals cost anywhere from $2.6 billion to $36.5 billion annually, as estimated by the National Council on Aging. This is a sad reflection of our society. To protect yourself from financial exploitation, it is best to create a comprehensive estate and financial plan that will ensure your protection …
Continue reading “The Advantage of Strong Financial and Estate Planning Advisors”
Recently, I met with clients that had discovered their property line was not where they thought. This is a common dispute between property owners and underscores the importance of having a survey prepared when buying property. The title company will not cover encroachments and discrepancies in property lines without a current survey. My discussion with …
Starting an estate plan can be overwhelming, and you probably have many questions. You are not alone. This week I will discuss five questions people often ask about last wills and testaments as they begin to think about estate planning. 1. Aren’t Wills Only for Wealthy People? This is a common myth. Last wills …
Well, I have written about large power lines and pipelines coming through Walker County before and here we are in Walker County with another new pipeline project. This time a Bahia Pipeline LLC is putting in a major gas pipeline. Many of you may have been contacted in the last few months about access for …
Inflation affects all consumers, but older Americans are facing an especially dramatic loss of buying power. A recent survey by the Senior Citizens League shows that Social Security benefits have seen a 36 percent loss in buying power since 2000. That number is actually an improvement from 2022, when the loss of buying power was …
Continue reading “Social Security Check Not Keeping Up With Inflation”
