Dallas Estate Planning Blog

Having a trust as part of your estate plan can effectively protect your assets and ensure that your wishes are carried out after your death. However, one of the most important decisions you'll need to make is whether you should establish a revocable or irrevocable trust. Both types of trusts have advantages and disadvantages, so it's essential to understand their…Read More

Dictating how your assets should be distributed upon your passing is extremely important if you want a say in who gets your money and how much they will receive. Estate planning becomes even more important when you have children because it can indicate who will be the children's guardians if they are minors. Estate plans can also ensure that someone…Read More

When someone dies, their last will and testament must enter probate. A probate judge reviews the will to confirm its validity and authorizes the executor to administer the estate. The thought of putting your family through probate can be upsetting and stressful. You want your loved ones to receive the assets they deserve without enduring a complicated legal process. However,…Read More

Your will contains your last instructions to family and friends about how you want your estate distributed. Although every will is different, there are essential items you should address and components you must include to ensure the document is legal. Texas has requirements a will must meet to be considered valid. One of these is that there must be a…Read More

The process of estate planning rests on numerous assumptions. Key amongst these assumptions is the notion that the beneficiaries of your will are going to outlive you. While it is probable that your heirs will still be around when you pass, particularly if they are younger than you are, there is always a possibility that someone you have named in…Read More

If you have a loved one suffering from Alzheimer's, you understandably have concerns with how the progression of the disease will affect them goring forward and what types of treatment and care they will need. Additionally, if they have not yet created an estate plan, they might not have the powers of attorney required to successfully manage their care in…Read More

If you have considerable debt, you may have concerns about passing those debts on to your heirs and loved ones through your estate when you pass away. Likewise, if you are the beneficiary of someone’s estate, you may be concerned about incurring your loved one’s debt and having to pay it back. In limited circumstances, an heir might inherit a…Read More

If you are planning your estate, this can be an overwhelming time. There are many considerations, and it can be difficult to know how to best take care of your loved ones. You do not have to do this alone. You are taking the right step by planning your estate, regardless of your age. Shockingly, nearly half of Americans over…Read More

Planning what will happen to your estate when you are no longer around can feel overwhelming. Among the many challenges you may face is the question of what the tax implications of the transfer of assets might be for you or your heirs. Fortunately, an irrevocable trust is a useful tool that has significant tax benefits for both the creator…Read More

Imagining what life will be like for your family after you die is difficult. It is one of the main reasons people put off making an estate plan in the first place. However, the idea that your death may lead to arguments among your heirs over your estate can be a particularly painful thing to think about. It is not…Read More

An estate plan is more than an outline of how you want your assets divided after death. A complete estate plan should include provisions specific to your wishes after death, what medical treatments you want if you fall permanently ill, and who you want to be in charge of making critical medical decisions for you if you are unable to…Read More

Losing a loved one is one of the hardest experiences for a family. In addition to grieving their loss, family members and heirs often find that dealing with the business affairs of the deceased person is more complicated than they expected. One concern that comes up frequently is the length of time it will take to go through the process…Read More

There are many practical, financial, or sentimental reasons people want to leave their homes to their children. No matter your motive for wanting to do so, it is important to have an estate plan that is clear regarding property distribution. A clear estate plan help protect the best interests of both you and your family. There are different ways of…Read More

One of the most common myths about estate planning is it’s only for the terminally ill or wealthy. However, anyone of any age could benefit from creating an estate plan. Even if you don’t have high-value assets or children, executing a will, trust, and other legal documents can protect your interests and your family’s future. There isn’t a magic age…Read More

Estate planning is necessary for anyone regardless of age, health status, and economic standing. It’s especially crucial to create a valid estate plan if any of your beneficiaries have special needs. Without a carefully drafted will, trust, or other legal documents, your dependent family member's future isn't secure. If you die without a valid estate plan, you leave your dependent…Read More

You may not have thought about placing your assets in a trust. It might seem too complicated, or you may think it’s just not necessary at this time. And thinking about a trust also means thinking about not being around anymore, and that’s never pleasant. But there are some good reasons to consider seeing an estate planner and discussing the…Read More

Common misconceptions regarding estate plans might prevent someone from planning for the unexpected. Drafting a will is vital to protect your assets and loved ones, even if you’re young and in good health. You might not think estate planning is necessary. However, it could give you peace of mind if a significant event disrupts your life or cuts it short. …Read More

A medical power of attorney (POA) is a legal document you create while you’re making your estate plan. This document gives someone the authority to make decisions regarding your healthcare when you can no longer make those decisions for yourself. The person you appoint as your medical POA could instruct your medical team about treatment you don’t want, medications you…Read More

If you are in the process of writing your will or trying to determine how the property of a family member will be handled after their death, you may have encountered the term probate. Probate is the legal process by which a person’s estate, their property and possessions, are handled after they pass on. In the probate process, a court…Read More

Most people want to take care of their family even after they’re gone. Creating a last will and testament can make sure that your assets pass to your chosen beneficiaries upon your death. That way, there won’t be any confusion about what assets you intended to go to which person. Drafting a last and will and testament isn’t as complicated…Read More

A power of attorney (POA) is a legal document granting someone the authority to manage your affairs if you’re unable to yourself. A POA can become effective once you sign the document or if a specific event occurs, such as incapacitation. When you create a power of attorney, you can appoint an attorney-in-fact, also called an agent, to make decisions…Read More

A living trust can be a vital part of creating an estate plan. You could reap various benefits by setting up a valid and enforceable living trust. It can protect not only your assets but your family as well. A living trust is a legal document you can establish to protect your assets during your lifetime. Your appointed trustee has…Read More

You should create a living will if you want your family and medical providers to know how to handle your medical care if you can’t speak for yourself. A living will is a legal document that outlines your preferences regarding the type of medical treatment you want if you can’t make your own decisions. The instructions you provide should direct…Read More

There is currently more wealth being transferred between generations than at any time in our nation’s history. According to the Center for Retirement Research at Boston College, it is estimated that the baby boom generation will inherit $8.4 trillion over their lifetimes. It is also clear that the number of wills being contested is on the rise. Factors including the…Read More

On January 1, 2013, Congress passed the American Taxpayer Relief Act (ATRA), and shortly thereafter, President Obama signed the bill into law on January 2, 2013, ending what many had worried would lead to falling off of the "fiscal cliff," being the scheduled radical reduction in estate tax and gift tax exemptions, and significantly higher estate tax and gift tax…Read More

Over the years, having litigated a number of catastrophic tort claims, I have frequently been asked by clients, as well as by students in my tort class at Collin College, to explain the difference between a Wrongful Death Claim and a Survival Claim. I explain the difference between these two claims as follows: A Survival cause of action is something…Read More