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...
What Is Intestacy?
In Texas, like elsewhere, intestacy laws dictate who inherits property when someone passes away without a will, often leading to outcomes that might not align with the deceased's wishes. Understanding intestacy is important for anyone concerned with how their assets would be handled in their absence and wants to ensure their family's...
What Are the Disadvantages of a Holographic Will?
A will is a key step in managing your estate, and some people in Texas opt for a holographic will, attracted by its simplicity and cost-effectiveness. This handwritten document may seem like a straightforward solution, but it carries significant disadvantages that could impact your wishes and your loved ones' future. From legal...
What Is the SECURE Act? How Will It Affect My Retirement?
The SECURE Act has transformed American retirement planning with its sweeping changes. This legislation affects how you save, when you can access your funds, and the way your retirement assets are handled after you pass. It adjusts the age for required minimum distributions and modifies rules for inherited retirement accounts, offering new...
Requirements for a Valid Will Under Texas Law
Understanding the requirements for a valid will in Texas is crucial for ensuring your wishes are respected after you pass away. In Texas, specific legal criteria must be met for a will to be considered valid. This includes aspects such as age, mental capacity, the presence of witnesses, and how the will...
Understanding Your Rights as an Estate Beneficiary
Estate planning plays a vital role in determining how one's assets are allocated after their demise. Beneficiaries stand at the center of this process, as they are the individuals designated to receive assets from an estate. It's important for beneficiaries to recognize their rights as those inheriting. By understanding these rights,...
Why Is Having a Will Important in Estate Planning?
Many people procrastinate about making a will because they incorrectly assume that their loved ones will automatically receive their property after they die. In fact, dying intestate (not having a valid will at the time of your death) could leave the people you care most about empty-handed and...
Is a Handwritten Will Valid? Everything You Need to Know About Holographic Wills
Texas allows handwritten (holographic) wills, but usually, a typed will is a better option. There are some restrictions, however, on holographic wills in Texas that could invalidate a handwritten will under the right circumstances. Because of those rules, relying on a handwritten will can be risky and subject your loved ones to...
Top 5 Types of Trusts
What Are the Disadvantages Of A Trust?
Trusts have become an increasingly popular estate planning tool. Individuals with significant assets and complex family dynamics favor trusts to avoid the expense, public record, and protracted probate process. However, as attractive as trusts can be for some, they aren’t the right choice for everyone and there can be disadvantages. To make...