Estate Planning for Blended Families
Traditional, simple estate planning may not be sufficient to accomplish estate planning goals in many blended family situations.
The Hidden Trap in Your Estate Plan: Why Beneficiary Designations Can Ruin Your Last Will
When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
Elder Law Essentials in Texas
Elder law is an aspect of estate planning focusing primarily on the needs of families and individuals as they age.
The Unseen Risk: Why Standard Estate Planning Fails Individuals with Disabilities
We often view estate planning as an optional chore—a task for the “ultra-wealthy” or something to be tackled in the distant future. In reality, estate planning is the only way to override the default “backup plans” written into state law. While these default laws provide a basic structure for transferring property, they are often blunt instruments that can cause unintended financial catastrophes for families caring for a loved one with a disability.
If you have a child or grandchild with physical or cognitive challenges, a “standard” will isn’t just insufficient—it could be a legal landmine.
The “Second Marriage Tightrope”: Balancing Your Spouse & Your Children in Your Estate Plan
Married people in second marriages with prior children often have to balance the future well-being of their spouse with that of their own children.
When Should I Update My Will?
There are some obvious triggers that might prompt you to update your will, such as changes in health or marital status. There are, however, also some not-so-obvious ones to be aware of, according to financial planners and attorneys.
October is Special Needs Law Month
The National Academy of Elder Law Attorneys (NAELA) established October as National Special Needs Law Month. It coinsides with World Down Syndrome Awareness Month.
Planning for Children with Special Needs with ABLE Accounts and Special Needs Trusts
Families of children with autism face the dual challenge of saving for retirement, while also planning for their child’s long-term care.
Why Is it Important to Have an Estate Plan?
Whatever stage of adult life you’re at—no matter your net worth—you need a will.
How to Support a Child with Special Needs?
Families that include individuals with special needs require planning to secure their loved ones’ security in the future, both in legal and financial terms. There’s usually no expectation of the child becoming an independent adult, so careful planning is needed, as advised in the recent article “Financial Planning for Families with Disabilities” from Wealth Management. Many families neglect planning for their retirement, focusing all their resources on developing a plan for their disabled child. However, retirement and their child’s future need to be secured, which is where an estate planning attorney can help.
