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…
Approximately 35% of American homeowners have at least one cat and 42% have at least one dog. Pet owners should consider what will happen to their pets upon their death or incapacity. Some pet owners carry an “Animal Card” in their wallets or “Animal Door Sign” to alert of the…
A Trustee is a person or entity (for example, a bank) given the responsibility of managing the property for the benefit of another person (beneficiary) according to the Trust terms (instructions) set out by the Trustor (Trust creator). While a Trustee is not expected to be a legal or financial…
An executor is named in a Will to manage the decedent’s affairs upon the decedent’s death. Before naming an executor or agreeing to serve in the role of an executor, there are a few things to you should know. An executor is given the responsibility of ensuring that a decedent’s…
Our long, hot summer is now over and while we look ahead to the holidays, it is a good time to think about your future and, if you have children, their future. Do you have a Will? Does your Will reflect your current family situation? Have you already planned for the…
Most clients know that they need a Power of Attorney in the event that they become incapacitated, but many do not know what other documents they need. Still others are not aware that these documents are only effective during their lifetimes– when you die, these documents do as well. Every…
When starting the Estate Planning process, I ask clients to think about their “People of Interest” and alternates. We discuss the roles of Executor, Trustee and Guardian and the qualities the persons serving these roles should possess. The Executor is the person named in a Will who will follow the instructions…
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…