Harvey Cox Many Texas parents try to “make things easier” by adding a son or daughter to the deed of the family home. The goal is usually understandable: Unfortunately, this common shortcut can create serious legal, tax, creditor, and family problems that many people never see coming. In many cases, adding children to the deed is one … Read more
Many people assume that if they die without a Will or Trust, everything will “just go to my spouse.” In Texas, that assumption can be dangerously wrong. If you do not create your own estate plan, Texas intestacy law decides who receives your property, when they receive it, and in what shares. That plan may … Read more
Many parents buy life insurance for one simple reason: To protect their children if the unthinkable happens. That is wise planning. But many parents make one critical mistake when completing the beneficiary form: They name their minor children directly as beneficiaries. It sounds logical. It often creates avoidable problems. Why This Can Be a Serious … Read more
I discourage clients from planning their estates around specific assets. There may be a compelling reason to do it in rare instances, but in most cases, it can result in unintended consequences. Example: John is a widower with three grown children. He wants to treat his children equally. In his will, John divides his assets equally … Read more
When people begin estate planning, they usually want four simple things: What Most Families Really Want 1. Keep Costs Down You want your assets to pass to your family without unnecessary legal expense. 2. Keep Family Matters Private You do not want your finances, property, and family decisions exposed to the public. 3. Avoid Delay … Read more