What Is the Difference Between A Will vs. A Trust?

You’re not alone if you are new to estate planning or simply don’t understand the difference between a will and a trust. There can be a considerable amount of misunderstanding associated with the two things. Some common misinformation that circulates is that trusts are for wealthy people and their children. And if you create a will, you’re all set. Both trusts (and there are several kinds) and wills are two very Read More

Does Texas Have a Medicaid Spend Down?

Most of us will require nursing home care at some point in our lives. What’s worrying is how expensive it is. Perhaps you’ve heard of the possibility to reduce your assets before this time comes. You may wonder if it is possible to do a Medicaid spend down in Texas. On average, private and semi-private accommodations in a nursing home cost $8,365 and $7,441 respectively. While overall costs vary based on location, Read More

5 Times in Life When You Need to Update Your Estate Plan

One of the only things certain in life is change. When your estate plan was originally created, it was based on your circumstances at the time as well as the current state and federal estate planning laws. If you reflect on what’s happened in your life between then and now, it’s easy to see how the constant change makes it necessary to revisit your estate plan. In general, you should update your plan every three Read More

The Top Three Reasons Estate Planning Isn’t Just for the Rich and the Elderly

There’s a common misconception that if you aren’t fabulously wealthy or very old, it’s not important to worry about estate planning. This simply isn’t the case! Estate planning is important for everyone, regardless of your age or economic status. In today’s blog post, we’re looking at the top reasons to create an estate plan even if you’re a young person without many assets. It can spare your loved ones a lot of Read More

The Difference Between Elder Law and Estate Planning

The terms “elder law” and “estate planning” are often used interchangeably, but in fact, they are two separate, yet related, areas of law. As the average lifespan increases, individuals have to consider what type of quality of life they want in their golden years and how they will achieve it. They also, of course, must make considerations for what will happen after they pass away. This is the primary difference Read More

Understanding the Difference Between Dependent and Independent Estate Administration

There are generally two ways to settle estates in Texas: dependent and independent estate administration. The probate process will depend on the route you take, so it is important to understand the difference between the two types of administration. Here is how dependent and independent estate administration differ.  Dependent Administration  Dependent administration is usually used when there are disputes Read More

4 Reasons to Contest a Will

Contesting a Will is not as simple as most people believe. You cannot challenge a Will solely because you do not agree with its terms. There are certain legal elements that must be established first, and proving each one of them is not a walk in the park. The process involves a large expenditure, from expert fees to attorney’s fees to the court fees. However, if you can prove that at least one of these elements Read More

What Is an “Advanced Directive” and When Do You Need One?  

Also known as a health care directive or living Will, an advanced directive is a document specifying your wishes regarding advanced medical treatment. For example, do you want to be fed and hydrated when in a coma or are terminally ill? Do you want to receive defibrillation or CPR after a heart attack? Do you want to be put on a ventilator at any point? An advanced directive spells all of this out on standardized Read More

Why You Need a Will – Even if You Don’t Have Many Assets

The thought that we will not be here forever is chilling and hard to fathom. But it is important to accept that death is a part of life, and that it is in your best interest to secure the future of your legacy as soon as possible. If you are reading this, chances are you’re in the balance about writing a Will because you don’t think you have enough assets for estate planning. Contrary to popular belief, however, Read More

3 Things Your Will Does NOT Accomplish

A Last Will and Testament are one of the most critical documents you will ever have to draft. So critical, in fact, that it has been the subject of many nasty legal battles since the establishment of the judicial system. Among other things, a Will dictates the final wishes of the deceased regarding the property he/she leaves behind upon death. Unfortunately, there are certain expectations about the Last Will and Read More