Losing a spouse is one of the most difficult experiences you may encounter. In addition to the emotional pain and sorrow, legal and financial decisions must also be made. If you or someone you know is experiencing the loss of a spouse, please assure them that they should first take…
With every client we discuss the important of Life Insurance as well as its non-probate character, in other words, as long as a beneficiary is named other than the estate, the policy will pay out directly to that beneficiary, rather than passing according to will (and waiting for the Court’s…
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…
Many married clients assume that the surviving spouse will automatically inherit the real estate of their deceased spouse. Without a Will however, the Texas Intestate Succession rules govern. For example, in the case of a married couple with children from their marriage only, the surviving spouse will inherit the…
One in every three Americans will receive an inheritance during their lifetime, according to a study by Ohio-State researcher Jay Zagorsky. Unfortunately, much of that windfall is lost through spending or bad investing. Mr. Zagorsky offers four steps for handling an inheritance: (1) assess the current financial situation; (2) figure…
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…
Did you know that no one is required to take possession of a property (and mortgage) unless they want to do so? Simply leaving a mortgaged property to your heirs does not necessarily subject them to your debts. However, if your heirs want the property, they must either take over…
The 2016 Community Spouse Resource Allowance will remain at $119,200 (maximum) and $23,844 (minimum), as recently reported by the Centers for Medicare and Medicaid Services (CMS). In addition, the spousal monthly maintenance needs allowance will remain $2,980.50 a month. For medicaid eligibility, the income cap is projected to remain at $2,199.…
my Social Security is a website managed by the Social Security Administration and allows users to create personal accounts, update address and contact information, track earnings, estimate future benefits and manage current benefits. Users may even order replacement medicare cards, order replacement SSA-1099 forms and state/change direct deposit. To create…
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…