Posts Tagged ‘Asset Protection’

If you have a close family member with special needs, you most likely never stop thinking about the future of your loved one. Parents with a special needs child want to ensure that even when they are no longer there, the child will continue to receive the care and attention they need and deserve. Special…

If you have been named executor of a loved one’s estate, it is natural that you might feel overwhelmed by the many tasks that lay ahead. After all, the executor’s role involves more than ensuring the deceased’s assets are distributed according to the wishes outlined in their Will (which itself is an involved process). In…

Aging is an expensive endeavor. While many financial burdens are relieved by reaping the benefits of your peak earning years and seeing children start their own adult lives, many more await just ahead in the form of retirement and long-term care needs. The latter is especially burdensome. In Texas, a private room in a nursing…

In December of 2017, then-President Trump signed the Tax Cuts and Jobs Act which increased the federal estate tax (FET) exemption from $5.49 million to $11.18 million for an individual. In 2019 this number rose to $11.4 million and in 2020 it rose again to $11.58 million. In 2021, the FET exemption for an individual…

Asset protection in the context of estate planning is often thought of as a process only for those that have a substantial estate to be protected from the government, creditors and/or predators.  However, you do not need a mansion on the hill, millions of dollars in the bank or a limousine driver to need asset…

Take a tour of what the internet has to say about probate and you’ll come away believing there is no worse place to end up. After all, bountiful articles warn about accumulating fees, administrative hassle, and the potential for family conflict; and while these are valid concerns, they are not inevitabilities in the probate process.…

In the simplest possible terms, estate planning is the process by which you ensure your assets and health are well-managed in the event of incapacitation or death. Everyone, regardless of age, condition, or wealth, needs an estate plan because every one of us will one day pass on. And while it is true that executing…

Young parents nation-wide are managing a heroic task. With children spending more time at home and aging parents requiring special care as the most vulnerable portion of the population, middle-aged adults with kids are under extraordinary pressure. This is especially true of those whose parents suffer from illness or incapacitation. After all, folks in this…

The grief of losing a loved one can be blinding and it is easy to forget that important estate planning decisions need to be made in such moments. Without swift action, costs can pile up and so while administering a deceased loved one’s estate may be the last thing you want to do in the…