An Estate Plan can be signed, stored, and still be outdated. Major life changes, old beneficiary designations, unfunded Trusts, and outdated incapacity documents can all create problems when the plan is needed most. Read on for ten signs that your Estate Plan may be living in the past.
Shannen Doherty spent years fighting breast cancer with courage and candor. In her final days, she also fought to finalize her divorce – signing the settlement just one day before she died. More than a year later, her estate is still fighting to enforce it. Shannen’s story is a powerful reminder that even the best-laid plans can unravel when the wrong people are involved – and that naming the right Trustee may be the most important decision you ever make.
Celebrity estate planning mistakes offer valuable lessons for everyone. While most people do not have the vast wealth or complex family dynamics of famous individuals, the same principles apply. A poorly constructed or nonexistent estate plan can lead to family disputes, unnecessary legal fees, and assets ending up in the wrong hands. By examining high-profile … Read more
A long-term care solution to your emergency situation is Medicaid crisis planning. When you’re older and haven’t planned accordingly, a situation may arise when you need long-term care. Medicaid crisis planning helps you protect your assets and secure care when you suddenly need long-term assistance. As an elderly single person, facing this situation alone can … Read more
Most people spend considerable time deciding who gets what in their estate plans. Far less time goes into deciding who will be responsible for carrying it out. That choice matters just as much. An executor manages the administration of your estate after you die. A trustee manages assets held in a trust, sometimes for decades. … Read more
There are very few people who hear the name Dolly Parton and do not immediately think of a song. “Jolene.” “9 to 5.” “I Will Always Love You.” But Dolly’s fortune tells another fascinating story—one about a remarkable business empire, valuable intellectual property, generosity, and an estate that may remain largely private. But Dolly Parton built much … Read more
For many seniors living in Fort Worth, a pet is far more than an animal companion; they are a vital member of the family. Dogs, cats, and other domestic animals offer deep emotional support, combat the isolation that often accompanies aging, and encourage an active daily routine. Research has consistently shown that pet ownership can … Read more
What Dolly Parton Can Teach Us About Leaving Something That Matters When most people think about your legacy, they may picture the things they will one day leave behind—a home, savings, investments, a family business, or other assets built over a lifetime. But legacy is about much more than what we own. It is also about … Read more
Leaving something to a child you love is one of the most natural impulses in estate planning. The legal reality of how that inheritance actually reaches them, however, is something most parents and grandparents have never thought through. Here’s the key question: can a minor inherit directly? In Texas, a minor cannot legally own or … Read more
Two recent conversations at Summit, one about blended family planning and one about trust language, highlight a challenge that shows up more often than attorneys might expect: clients and even attorneys sometimes read estate planning documents more literally than the drafters intended. This article explores how terms like “equal” and “irrevocable” can create real confusion and why helping clients understand how a plan actually functions matters just as much as how carefully it was drafted.