First and foremost, congratulations! If someone named you as a trustee or successor trustee, that person must have thought that you are smart, trustworthy, and organized. Being chosen as a trustee is a pretty big compliment. But, just like Uncle Ben told Spiderman: “With great power...
Death avoidance permeates our culture. More than 50% of our neighbors don’t have an estate plan in place detailing distribution of assets let alone any written funeral and/or burial instructions. We, as a culture, hate to admit that we are getting older and do NOT...
Who is on first? What’s on second? Who all needs to be involved in writing an estate plan? Partnering with a highly qualified attorney is paramount when crafting a plan that disposes of your assets, plans for your medical care and strategizes for the care...
Life has very few guarantees. Paying taxes and dying are two guarantees that impact every single person no matter gender, socio-economic status, religion or ethnicity. We pay taxes every year and talk about how much we like or dislike taxes with just about anyone who...
The internet has changed almost every aspect of our lives, some for the better, and some for worse. I read an article about a family in Arkansas that built a “3,500-square-foot, five-bedroom abode with a three-car garage and a two-story treehouse” using only online tutorials she...
There are strict rules governing lawyers’ professional responsibility to be ethical. The very first rule is that a lawyer has the duty to be competent in his representation of a client and to maintain competence by keeping up-to-date with any changes in the practice of...
We often get asked about joint bank accounts, and how an account owner’s death impacts the ownership of said account. There is a lot of misinformation surrounding what the right of survivorship designation can and cannot accomplish. In the January 2019 Texas Bar Journal, Gerry...
Did you know that there is a 40% tax that may apply when you give gifts to your grandchildren or great grandchildren? This federal tax is called the Generation-Skipping Transfer tax (GST tax). The GST may apply on gifts made during life and after death....
Have you looked at the back of your Texas Driver’s License lately? No? Go ahead and get it out of your wallet. I’ll wait . . . See those first two boxes? In an emergency, first responders can look at the back of your license to...
Most of the nursing home residents in Texas have their stay paid for, all or in part, by Medicaid. The cost of a monthly nursing home stay in Texas can vary from city to city but the average nursing homes cost is $5,931 or more...