What Is an irrevocable trust and why would you want one? The short answer is calculated loss of direct control. When you create an irrevocable trust, you transfer assets out of your name permanently, and that transfer is what makes the trust powerful. Understanding why someone would voluntarily give up control over their own assets … Read more
A lot of people think of the retirement pension based on 20+ years of service when a military pension is discussed. In reality there is another pension simply call the Veterans Pension that sits apart from the retirement pension. This pension is largely for seniors, and it can make a difference if you are living … Read more
One of the most common—and dangerous—phrases in Estate Planning is “that would never happen.” This article explores how assumptions about family dynamics, relationships, and behavior often lead to unintended conflict, litigation, and failed plans. By examining where these assumptions break down, both attorneys and families can build Estate Plans designed to withstand real-world challenges.
The best Estate Planners stay current on the latest trends. The American Academy of Estate Planning held its semi-annual conference providing education and learning for and inspiring excellence in its Members.
If you own a business, your legacy is not defined only by what you built. It is also defined by what happens next. Without a clear succession plan, even a profitable and well-run company can face instability, conflict, or forced liquidation at the very moment continuity matters most. Business succession planning gives you control over … Read more
The recent $10 billion sale of the Los Angeles Lakers provides a powerful cautionary tale about Estate Planning, family conflict, and business succession. Despite a sophisticated Trust designed to keep ownership in the Buss family, structural flaws and sibling rivalries ultimately dismantled Jerry Buss’s legacy. This case illustrates why even well-drafted Estate Plans can fail when they ignore real-world dynamics. Learn the critical lessons every family business owner should consider before it’s too late.
Many Texans assume that once Medicaid helps pay for long-term care, the story ends there. Coverage arrives, care is provided, and the home remains intact. What often comes as a surprise is what happens later. After death, Texas has the legal right to seek repayment through the Medicaid Estate Recovery Program, commonly called MERP. For … Read more
Planning for the future isn’t just about saving money or deciding when to retire. It’s also about protecting your family, your assets, and your wishes through clear legal documents. Estate planning is one of the most important steps you can take, and it’s not something to leave to chance. Without legal guidance, you risk confusion, … Read more
As we approach the end of another tax season, it’s a good time to review the list of “Dirty Dozen” tax schemes published by the Internal Revenue Service for the year. Many of these schemes peak during tax time and involve fraudsters looking for ways to steal taxpayers’ money, personal information, and data. Attorneys can help their clients by alerting them to these scams and providing advice on how to avoid them.
When you are going to qualify for Medicare as a senior, you may take some things for granted. Yes, there are out-of-pocket costs, but they are manageable for most people. The big-ticket items will definitely be covered, and this can provide a sense of security. This makes sense on the surface, but there’s an element … Read more