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…
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…
Are you are an art collector planning to sell your art or give some of it away during your lifetime (or make bequests upon your death)? If so, you should investigate obtaining an appraisal from a qualified art appraiser. If you plan to sell the art, you want a high…
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…