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Focus on goals, not documents, when developing your estate plan
A common pitfall in DIY estate planning is focusing solely on obtaining documents. Checking items off a list – Medical Power of Attorney, done, will, done, can work in certain situations. However, in nearly every context, it is far better to consider the individual’s...
read moreInherited retirement funds can be a win-win for beneficiaries
For many people, the largest assets they own are their homes and their retirement funds. As such, it makes sense to pay special attention to those assets when developing an estate plan. This post will discuss options available to transfer retirement funds at death....
read morePack a plan for students heading to college
There is so much to prepare and pack before a child leaves for his or her first semester of college. Arguably, in the excitement of the preparation, many families overlook one of the most critical pieces of the plan – which is the answer to the question: what do we do...
read moreTexas underscores best interest of ward standard in guardianship case
Late last month, the Supreme Court of Texas agreed that an attorney who represented a client in a previous estate planning matter could also represent that person’s niece in an application for guardianship. The Court so ruled because it believed the attorney to be...
read moreLess restrictive alternatives are designed to prevent guardianships when possible
One of the chief benefits of having a plan is that you know who will make decisions for you – both health-related and financial – should you become unable to do so yourself. Sometimes, however, that kind of proactive planning is not possible. A crisis like a car wreck...
read morePossible changes coming to Long-Term Care Medicaid eligibility
Many people do not want to think of the possibility of requiring long-term care at some point in the future. They do not want to think about not being able to take care of themselves or can be concerned about becoming a burden on family members. While it is natural to...
read moreIf I don’t have a plan in place, who will make decisions for me if I am unable to do so myself?
One of the most important aspects of any comprehensive estate plan is determining who will act for you in the event that you are unable to make decisions for yourself. This could be the result of a long battle with dementia or Alzheimer’s or a sudden change because of...
read moreSkilled Nursing Facility … or the Holiday Inn?
After examining the cost of long-term care, Terry Robison decided that the Holiday Inn is a better deal than a skilled nursing facility. The Dallas Morning News reported on Mr. Robison’s Facebook post, in which he estimated that a skilled nursing facility would cost...
read moreSometimes the least expensive option costs more down the road
When it comes to estate planning, the cheapest option is to simply do nothing. But doing nothing can turn into a headache down the road for family and loved ones. For instance, Husband wishes to leave all of his property, including the home they share, to Wife. He...
read moreBurnout is a real concern for caregivers
According to Bob Jackson, the Director of Texas AARP, unpaid family caregivers are providing Texas seniors with approximately 3.2 billion hours of care. And that’s just in one year. Mr. Jackson values those services at approximately $35 billion. To put that number...
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