Many people in Texas set up small businesses with their close friends or family. Although your partner is your family member or closest friend, you still need to negotiate an official partnership agreement with them. A partnership agreement is a legal document written...
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Who is considered an interested party?
When an individual dies in Texas, certain people have the right to contest the individual's will. They might launch a will contest if they suspect that the individual was forced or influenced to write the will a certain way. However, only people who are "interested...
A child doesn’t have to be included in a will
If you fail to create an estate plan, Texas law may dictate that a portion of your assets go to your children. However, there is no statutory requirement to include a son or daughter in a will. Let's take a look at what you should know if you don't plan on providing...
Estate planning mishaps to avoid
Many people in Texas and across the United States may understand how important it is to plan their estates. Your estate is comprised of everything you own, including your home, car, life insurance, checking accounts, and other personal possessions. Effective estate...
An executor must avoid making mistakes
The ideal executor is calm, understanding, trustworthy, detail-oriented, understands relationships and has a good deal of financial savviness. It takes a great amount of responsibility in settling an estate, and as executor, you are in the middle of making sure of a...
Estate planning tips for farmers and ranchers
Ranchers and farmers in Texas know that ranching is much more than a career path. It is often a way to protect a generations-long family legacy of providing a blue-collar living for a family. What many ranchers may not realize is the importance of creating an estate...
Estate planning for millennials
Millennials in Texas may not want to think about estate planning, but they really should; it's a good idea for every adult to at least have a last will and testament. A will allows you to distribute your property and name guardians for children if you have them. Not...
How to divide the children’s inheritance
Dividing inheritances for your children in Texas can be tricky. It might seem safe to assume that each child will receive an equal share of their assets. However, there are some cases when a parent may want to leave different amounts to each child. Leaving different...
Estate planning can help meet family members’ needs
Most people think about their loved ones every day. Even if Texas residents do not see their family members all the time, they still love and care for them. As a result, most do not want to leave their loved ones in a difficult predicament, particularly after their...
Medicaid planning does not mean getting rid of all assets
Though the idea can seem scary, many people in Texas and across the country will need some type of long-term care in their elder years. In many cases, families may struggle to pay for such care, which is why many people want to qualify for Medicaid assistance if...
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