“In preparing for battle, I have always found that plans are useless, but planning is indispensable.” Dwight d. Eisenhower It is fitting that a quote from one of our greatest military leaders is the lead-in for today’s column. What Is The Pre-Need Determination Eligibility? Your government has made it easier for Veterans and their families to plan for VA burial benefits. Allow … [Read more...] about What Are Your VA Burial Benefits?
In my 40 plus years of practice the same misunderstandings keep coming up concerning wills. This article is to help clear up some common issues about how and when wills work. How Wills Work and When They Go Into Effect Wills don’t go into effect until the will has been admitted to probate. No other common legal document must be approved by a court to go into effect, but wills are the … [Read more...] about 6 Common Misconceptions About Wills and Probate
Trusts In Different States Many people get invited to well-intended financial seminars in which the presenters push trusts for everyone. Or they move from states in which they had a trust, and they think they need to replicate that estate plan in Texas. But in Texas, we don’t all need trusts like in other states. In many other states (like California), the probate system is more onerous than … [Read more...] about Do I need a Revocable Living Trust?
The Statistics Speak For Themselves Before you buy into that stereotype that all older Americans are demented, helpless and lonely, check out these statistics. Ninety-seven percent of Americans over 65 are NOT in nursing homes. Here’s an even more interesting statistic - ninety-one percent of Americans aged 85 and older are not in nursing homes. Ninety percent of Americans aged 65 and … [Read more...] about Why You Should Not Write-off Your Elders
Unfortunate fact: your debts do not die with you. They continue to burden your property after your death. This is a big deal. Your creditors can go after the property that goes through your probate estate and the property that passes under beneficiary designation. It is fair to say that your beneficiaries or heirs take their share of your property under the threat that it may … [Read more...] about This Is What Happens To Your Debt and Assets When You Die
Boomerang Kids Transitioning Your Adult Child Here is the kindest, wisest and most merciful action you can take towards your adult able-bodied children who are still living with you and getting free room and board: kick them out. Really, people. Enough is enough. The phenomenon of free-loading adult kids is so prevalent – Pew Research Center says that 33% of Americans aged … [Read more...] about How to Deal With Boomerang Kids