Understanding the Ins and Outs of Payable-On-Death (POD) Accounts
When planning for the future, many people create wills or trusts to ensure their loved ones are cared for after they’re gone. However, there’s another straightforward tool that can simplify the transfer of assets while avoiding probate: Payable-on-Death (POD) accounts. This blog explains how these accounts work, their benefits and limitations, and...
What Evidence Do I Need to Contest a Will?
Disputes over a loved one’s will can be deeply emotional and overwhelming. Whether you’ve noticed irregularities or feel something isn’t right, it’s natural to want answers. Contesting a will is about more than disagreements; it’s about ensuring fairness and protecting the true intentions of the person who passed away. Taking action may...
How to Amend an Existing Trust
Trusts are powerful tools for managing and protecting your assets, but life changes. You may have welcomed new family members, adjusted your financial goals, or seen changes in tax laws. These shifts often mean your trust needs an update to reflect your current situation and intentions. Making adjustments to an existing trust...
What Are the Disadvantages Of A Trust?
Trusts have gained popularity as a key estate planning tool, especially among individuals with substantial assets or complicated family situations. They offer advantages like bypassing the costs, public scrutiny, and delays of the probate process. However, while trusts can be appealing, they aren't the best option for everyone. Before deciding if...
Can I Put My Farm in a Trust?
Families often want to hold onto land, hoping to eventually pass it on from one generation to the next. Many Texans have kept their farms in the family for years. As you consider your family’s needs and your wishes for your property, you may wonder about your options for protecting this valuable...
Do Trusts Work for Multi-State Property Owners?
Many Texans own real estate in multiple states, allowing them to spend more time with family members who live in other places, keep businesses running outside of the Lone Star state, or simply to avoid the intensity of the Texas summer heat. However, you might not realize that when you pass away,...
What Are The Benefits of a Directed Trust?
Estate planning ensures your assets are managed and distributed according to your wishes after you're gone. Among the many tools available, directed trusts stand out for their flexibility and control. This unique arrangement allows you to separate duties among trustees, tailoring management strategies to fit both your desires and the specific...
What Is a Charitable Remainder Trust?
A trust is a legal arrangement in which one party (the trustor) gives another party (the trustee) the right to hold and manage assets for the benefit of the trustor or a third party (the beneficiary). A charitable remainder trust (CRT) is a special type of trust that lets you support...
What Is a Directed Trust?
Directed trusts offer flexible and effective solutions for those wanting precise control over how their assets are managed and distributed. A directed trust might be appropriate if your estate includes complex or high-value assets, like businesses, real estate, or investment portfolios. This type of trust is also suitable for situations where...
What Is a Pour-Over Will in Texas?
In estate planning, a pour-over will is a strategic tool designed to ensure that all assets seamlessly transition into a trust upon an individual's passing. This legal document acts as a safety net, capturing any assets not previously placed in the trust, thereby streamlining the distribution process according to the established...