George H.W. Bush (1924-2018) 41st President of the United States, 1989-1993 Political Life In the words of President Harry Truman and President Ronald Reagan, "There is no limit to the amount of good you can do if you don't care who gets the credit.” President George H.W. Bush embodied these words. In his early life, H.W. became one of the youngest aviators in the Navy, graduated from Yale University, and reached millionaire status all before the age of 40. As the President of the … [Read more...] about Famous Estates-Champ or Chump? George H.W. Bush
Texas estate planning attorney
Despite some amazing advances in science and medicine over the past century, a way to stop the natural aging process has yet to be discovered. This means that all of us will eventually succumb to the physical and mental signs of aging. As a result, you will likely reach a point at which you need assistance with even the daily tasks of living. You may also need regular medical care that often requires a patient to be moved to a long-term care facility. If you are like many people, you may wonder … [Read more...] about Can I Stay in My Home If I Get Sick?
Millions of fans around the world are mourning the death of comedian and actor Robin Williams following his recent suicide. Best known by older fans as “Mork from Ork” on the 1970s sitcom “Mork and Mindy”, Williams went on to show the breadth and depth of his acting ability is films such as “Good Morning, Vietnam” and “Good Will Hunting”. As is so often the case, the media began discussing details of the actor’s estate before he was even laid to rest. While this is hardly unusual, the fact that … [Read more...] about The Death of Robin Williams Highlights Privacy Concerns When Estate Planning
In the not so distant past, trusts were considered the purview of the rich and famous only. The average person rarely included a trust in his or her estate plan. Instead, trusts were used to funnel family wealth from one generation to the next while maintaining a certain degree of control over the use of the trust assets. Today, however, including a trust in an estate plan is almost routine for the average person. Questions about how a trust works though are common. For example, people often ask … [Read more...] about Will My Trust Need to Be Changed If I Buy or Sell Assets?
When a spouse dies, there are practical and legal considers that must be addressed amidst the grieving. The decedent’s estate must be probated, for example, and estate taxes paid, when applicable, to the federal government. In fact, one of the most important reasons to create a comprehensive estate plan is to decrease the estate’s exposure to both the probate process and the payment of estate taxes. People often wonder “What is the cost when one spouse dies?” The answer frequently depends … [Read more...] about What Is the Cost When One Spouse Dies?
An estate plan is made up of a number of legal documents that contain the instructions necessary to determine things such as the division of your estate assets after death or who will control those assets should you become incapacitated. While all of these legal documents are necessary to ensure that your wishes are honored, there may be additional information that you wish to leave behind that is not included in any of the plan documents. This is where a Letter of Instruction comes in handy. A … [Read more...] about What Is a Letter of Instruction?
Trusts are a common addition to a comprehensive estate plan because of the numerous and varied benefits a trust offers as well as the flexibility offered by the terms of a trust. Although the name implies the need to be “wealthy”, family wealth trusts are frequently used by families with moderate to large estates as a way to pass down the family assets. If you are considering the addition of a family wealth trust to your estate plan, you may be asking yourself “Who is the trustee of my family … [Read more...] about Who Is the Trustee of My Family Wealth Trust?
During the course of a lifetime, we make millions of decisions. Many of those decisions are relatively unimportant; however, some of them change the direction of our lives. We all take the ability to make life-altering decisions for granted. What happens, however, if you suddenly become incapacitated and are unable to make life-altering decisions for yourself? Who would you want to make those decisions for you? What decisions would you want that person to make? You likely have some rather strong … [Read more...] about Should I Have an Advanced Directive?