No Contribution Is Too Small Most American strive to earn a decent-sized paycheck to support themselves and their families when they go to work. Stay-at-home parents, however, work to provide valuable nonfinancial contributions to their families everyday. They make sure that the home runs smoothly and that their family members have what they need to […]
If I Give My Home to My Child in My Will, Can They Take My Home While I Am Still Alive? The short answer to this question is no. Naming your child as the recipient of your home in your will does not give them any right to your home while you are still living. […]
What Happens to Your Social Media Accounts at Your Death? According to Statista, more than 295 million people in the United States use social media.[1] If you are an avid social media user, have you considered what will happen to your accounts when you die? If you have spent time creating, uploading, and sharing content, […]
What Is a Transfer-on-Death Deed? If you own real property, such as a home, in your sole name but you have not created a trust and transferred your property’s title to the trust, it is virtually guaranteed that your beneficiaries (or heirs) will have to deal with probate after your death. If the time and […]
What is Considered a Gift under Gift Tax Law? It is better to give than to receive. But if you give a gift above a certain amount, you might end up owing money to the Internal Revenue Service (IRS). The federal tax code has very specific rules about how much you are allowed to transfer […]
Your New Year’s Resolution: Towards an Estate Plan Everyone needs information about what will happen when they, or a loved one dies, and what plan can be put in place to influence, in a positive way, that outcome. Even if you don’t think you have an estate worth worrying about yet; or if you are […]
Its hard to plan for “old age.” None of us know in advance what challenges we will face. Of course, needing Assisted Living Care or Nursing Home care is a possibility we all must face. The average cost of Assisted Living in Texas is $4,300 a month and for Nursing care is $5,000 per month. […]
Many people fall into the trap of thinking that wills and estate plans are only for wealthy individuals. Other people falsely believe that because they are young, there is little to no reason to write a will or make a plan. But death will occur, sometimes without warning striking even the young. Other times procrastination […]
Not surprisingly, the current makeup of Congress is out to “tax the rich.” There are a number of proposals in draft legislation which could have dramatic implications for existing estate plans. Moreover, even though we don’t know what the exact final version of this legislation will be, these measures are so drastic and so catastrophic […]
Local estate planning attorney Shawn McCammon will be covering Estate Planning basics and how to avoid common mistakes people make when it comes to their Will or Trust planning. He will be talking about the importance of getting a written plan in place so the state doesn't make all your decisions for you, Wills vs. […]
