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Primary Duty of Executor Involves Locating Heirs

Primary Duty of Executor Involves Locating Heirs

One of the most important duties of an executor serving under a decedent’s Last Will and Testament is to locate the beneficiaries named in the Will. The Executor must locate the beneficiaries, notify them of their beneficiary status under the Will, and ultimately, ensure that the correct assets have been…

The Season for Giving: Donate Appreciated Assets to boost your Charitable Impact

The Season for Giving: Donate Appreciated Assets to boost your Charitable Impact

Many clients donate to charities in the spirit of holiday giving. Not all gifts have the same impact, however. Did you know that donating appreciated assets can have a bigger financial impact on the charitable organization than a gift of the cash proceeds from that same asset? Donating the appreciated…

Plan Ahead to Keep your Small Business in the Family

Plan Ahead to Keep your Small Business in the Family

According to a recent study, only 20% of small businesses remain in the family after death of the owner. Many small businesses are sold off after the owner’s death, with assets divided and distributed to beneficiaries named in the business owner’s Will. With some planning ahead, you can ensure that…

Take the Stress out of Estate Planning

Take the Stress out of Estate Planning

For many clients, thinking about estate planning is about as enjoyable as scheduling a root canal. Thinking about death and making decisions in the event of later incapacity is difficult, stressful and often a process that many put off.  On the other hand, making a decision to create an estate…

Are Your Students Ready for College?

Are Your Students Ready for College?

Summer is in full swing, but I am reminded by my intern that most colleges start in less than a month and he will be heading off to begin his college career at the University of Texas! In addition to meeting his roommate, shopping for dorm supplies and attending freshman orientation,…

Starting a New Business in Texas?

Before you start a new business in Texas, there are several things to consider, including meeting with a CPA and attorney. First, determine your business structure.  As we discussed in our last newsletter, the most common forms of business entities in Texas are: Sole Proprietorship, General Partnership, Limited Partnership, Limited…

What happens if I die without a will in Texas

Intestate succession is the process by which the assets are distributed for someone who died (decedent) without a Will.  In Texas, that process is governed by the Texas Estate Code. Judge Herman of the Travis County Probate Court created an Intestate Chart that helps to illustrate this discussion. Unmarried Person:  Property owned at death would first pass…