Many people believe that if they co-own real estate with another person, such as a spouse or family member, the surviving co-owner automatically inherits the property upon their death. This is not true in the vast majority of circumstances. This common misconception stems from the idea that co-ownership inherently includes a right of survivorship. However, […]
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Estate planning ensures that your wishes are honored and your loved ones are cared for when you’re no longer able to manage your affairs. A significant part of this process involves appointing individuals to serve in various key roles, such as financial power of attorney agents, medical power of attorney agents, executor of the will, […]
Creating a revocable living trust is a smart move for estate planning, but it’s only the first step. To ensure your trust serves its purpose, you need to fund it. This means transferring your assets into the trust. While this may sound complicated, it’s actually quite straightforward. Here’s a simple guide to help you through […]
Every parent wants the best for their child. Ensuring their safety and well-being in unforeseen circumstances forms a crucial part of that responsibility. Signing a declaration of guardians for your minor children serves as an essential step in this process. This document acts not just as a formality but as a critical safeguard, ensuring someone […]
Yes, you can transfer a mortgaged home to a Texas revocable living trust. However, it’s important to understand the implications and requirements of such a transfer to ensure that it benefits you as intended. The Process of Transferring a Mortgaged Home The Garn-St. Germain Depository Institutions Act The Garn-St. Germain Depository Institutions Act of 1982 […]
In the glitz and glamour of Hollywood, it’s easy to assume that celebrities have their lives perfectly managed. However, many stars who passed away left their estates in disarray because they failed to create a will or trust, causing turmoil and financial hardship for their families. At Texan Wills and Trusts, we understand that estate […]
Here are our top 10 will and trust myths: Don’t let myths stop you from getting a comprehensive estate plan in place. Take action now to avoid future headaches. Disclaimer: The information provided in this article may include legal or tax information, but it does not constitute legal or tax advice and should not be […]
A Brief History of NFA Legislation The regulation of firearms in the United States has evolved significantly over the past century, with key legislation shaping the landscape of gun ownership and control. One of the most influential laws in this regard is the National Firearms Act (NFA) of 1934. The National Firearms Act of 1934 […]
As cryptocurrencies like Bitcoin and Ethereum become more integral to financial portfolios, it’s essential to incorporate them into your estate planning. Properly planning for the transfer of these digital assets ensures they are passed on smoothly and securely. Here’s how you can include cryptocurrency in your estate planning with Texan Wills and Trusts. 1. Understand […]
Estate planning isn’t just for the elderly. Young families need it too. Here’s why and how Texan Wills and Trusts can help. Protect Your Children’s Future Your children depend on you. If something happens to you, who will care for them? Estate planning allows you to designate guardians. This ensures your children will be with […]