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 […]
Read More
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, […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
Posted on: February 17, 2022
What is a qtip trust? A qualified terminable interest property (QTIP) trust is an estate planning tool that married couples can use to minimize uncertainty about the future and maximize certain tax advantages. Since no one can predict how much they will own at the time of their death, which spouse will die first, whether […]
Read More
Posted on: February 14, 2022
Marital Disclaimers and the Clayton Election Deferring, minimizing, or avoiding estate taxes altogether is often an important estate planning goal for married couples. However, uncertainty surrounding the estate tax laws and the value of their accounts and property at the first spouse’s death can leave a couple feeling that they need a crystal ball to […]
Read More
Posted on: July 31, 2021
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
Read More
