Posted on: April 14, 2022
Yours, mine, and ours: how including a pour-over trust can simplify your planning Some married couples think about their accounts and property as “yours, mine, and ours.” This dynamic arises when they decide what should happen to all of these accounts and property at death. This thinking is especially prevalent if either spouse has gotten […]
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Posted on: April 12, 2022
you need to incorporate your nfts into your estate plan A nonfungible token (NFT) is a unique digital code representing a digital item. Commonly, this could be art or music and a growing number of physical objects. The digital code runs on the blockchain (a secure, decentralized, and cryptography-backed online ledger). This record-keeping system provides […]
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Posted on: April 8, 2022
Estate Planning myths we tell ourselves Estate planning can be a challenging process. Deciding to move forward with an estate plan requires us to face that we will not live forever. This thought stops many people in their tracks. Others talk themselves out of seeing a qualified attorney to create an estate plan because of […]
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Posted on: April 5, 2022
Parenting beyond the Grave Parents strive to make their children feel equally valued. As such, parents typically divide their accounts and property equally among their children when setting up an estate plan. But while parents strive for equality, they simultaneously acknowledge that children have different needs at different times. And these needs do not always […]
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Posted on: March 31, 2022
Loan, Gift, or Advancement: Why the Classification Matters If capable, we all want to provide financial help to our loved ones. However, it is essential to understand how the money is classified will directly affect your estate planning. Accordingly, your intent behind the money transfer provides critical evidence of whether it is a loan, gift, […]
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Posted on: March 29, 2022
giving a gift can be tricky It is better to give than to receive. But if you give a gift above a certain amount, you might owe money to the Internal Revenue Service (IRS). You don't want to taint the joy of giving a present, by unintentionally having to pay tax on that show of […]
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Posted on: March 25, 2022
Ways to Leave Your Real Estate to Your Loved Ones (and the Pros and Cons) Owning real estate continues to be a trendy investment vehicle for individuals and couples alike. One attractive feature of investing in real estate is that investment property can also double as a personal residence. In other cases, real estate investments […]
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Posted on: March 23, 2022
Talking to your parents about creating an estate plan Conversations about death and dying are rarely fun. Most people avoid them because they invoke feelings about our inevitable demise. Broaching your parents' estate planning can be particularly difficult for parents and their adult children. You might keep putting this conversation off as you deal with […]
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Posted on: March 11, 2022
Successor Trustee Compensation Asking someone to serve as your fiduciary (trustee of your trust or personal representative or executor under your last will and testament) is not something you should take lightly. Serving as a fiduciary is a heavy responsibility that requires significant time and effort. As an estate planning attorney in Austin, I can […]
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