Texans often work with their estate planning attorneys to structure trusts so that they can pass on family assets to their children. However, if those children and their spouses divorce, they often don't want the spouse to get a portion of those assets in the settlement. They want the money to stay in the family -- not to be split with a spouse who has gone their own way.
Here in Texas, as in the vast majority of states, it's illegal for anyone, including doctors, to help a person take their own life -- even if there's no hope of recovery, they're in considerable pain and the end is imminent. Whether it's called euthanasia, assisted suicide or mercy killing, Texas law prohibits "any act or omission other than to allow the natural process of dying."
Will. Estate plan. Death.
One of the most common estate planning tools that Texas families use in their estate plans is a trust. There are many types and varieties of trusts to choose from depending on your circumstances and needs.
You want to leave your heirs something when you pass away, but you're concerned that your heirs might spend the money or use the assets in a way that isn't wise. How can you protect your assets and beneficiaries?
When you're going through a divorce, there are many things to do. One of the most important things is updating your estate plan. If you fail to do this and pass away, much of your estate could end up going to your ex-spouse.
You might think that a divorce is the worst time to start focusing on your estate plan, but, in reality, it's one of the best times to begin. When you get a divorce, many things change. Addressing those changes in your estate plan is a good start toward protecting your beneficiaries.
The creation of a last will and testament is very difficult for some. Acknowledging death is something that a lot of people never come to grips with in life. It can be so difficult for some that they fail to create a will and leave their family in a lot of legal issues upon their death. If you are ready to create a will in Katy, Texas, here are some items you should never include.
When you have a substantial collection of assets, it's necessary to continuously update your estate plan. The last thing you would want your family to have to go through is probate court because certain assets weren't listed in your estate plan.
If you were to fall ill and be unable to speak for yourself, who would you have make decisions for you? If you don't have an answer to that question or are wary of who might make decisions on your behalf, it's time to look into a durable power of attorney.