You’ve finally made it, your adult children have graduated high school. It’s a big moment for the whole family. All your hard work as a parent has finally paid off. Now that your adult child is 18+ they’re considered an adult in the eyes of the law. It’s important for parents to talk about their […]
If you have a special needs child, you’re probably very concerned about the level of care your child will receive after you’re gone. After all, you want your child to thrive and have access to the best care possible, but when you’re gone, how can you ensure that your child’s needs will be met? A
Use this holiday season to observe their well-being and broach the subject, even over Zoom As a Dallas elder law and estate planning attorney, I hear concern edging into my clients’ voices every first of January, post-holiday-visit. After the plum pies are eaten and the grandkids tucked into bed, adult children are often left with
Failing to plan ahead can tie up your real estate in a lengthy probate process. The main issues that come up are the various delays and expenses that impact beneficiaries. Learn how to transfer a house or property without the costs of probate and how to make the probate process easier if a loved one is already deceased.
Here’s an idea that sounds better than it is: Put childrens’ names on the parent’s bank account. That way, children can sign checks if parents can’t pay bills when they become ill. When the parents pass, the money goes directly to the children with no court involved. Simple. Simple does not mean good, however. Joint
Young Kids Create Special Considerations for Estate Planning When you have kids—especially young adults or minor children—estate planning is more critical than ever. Children introduce several unique concerns. There are more questions to think about, and there’s more riding on getting it right; so this is a crucial matter to think about early. There are
The Tax Cut and Jobs Act of 2017 has doubled the Federal Estate and Gift Tax exemption amount from $5.6 million to $11.2 million (2018 numbers). This means that if you are married, under portability rules, you and your spouse have a $22.4 million federal estate tax exemption (at least through 2026). Many people may
Overview An estate plan asks the client to name individuals for a variety of responsibilities – responsibilities that differ from one another and may lead the client to determine that more than one person is best suited to fill each of these roles. Executor/Trustee For the client The executor of a will is responsible for