Joint bank accounts can be helpful in several ways, but such accounts can also be a trap for the unwary. A couple of the major benefits are as follows: Trusted joint account owner can pay your bills. Probably the most common reason for opening such accounts,...
This story is an illustration of some of the many thoughts that should be considered even if one has a small estate. In this case, the client’s major asset is her home that was deeded to her by her six siblings as it was their...
The Estate of legendary musician, formerly known as Prince, has (for at least the second time) requested the Trump campaign to stop playing Prince’s most famous song, “Purple Rain,” or any of his songs at Trump’s campaign events. The Estate owns all copyrights to the...
Parents own homestead as their major asset. Their health is beginning to decline, and neither of them have long-term care insurance or enough income or assets to pay for long-term care. As a result, if either of them needs long-term care, Medicaid is likely to...
Do you bank online? Do you have a Facebook, Twitter or Linked In account? Do you have an app such as Shutterfly? What about Bitcoins? These are all examples of digital assets (see our article about estate planning issues concerning digital assets by clicking here). As a...
If a Texas resident dies (the “decedent”) without a Will (“intestate”) and the estate assets are less than $75,000 (excluding exempt property such as a homestead if it retains its homestead status when there is a surviving spouse and minor children of the decedent in...
Although most parents do not want to disinherit a child, sometimes they become estranged for reasons ranging from disrespect by the child to the child doing some sort of criminal act. As a result, sometimes disinheritance becomes logical and needed. The following are a few ways...
Although certain assets such as a home, car, mineral rights (subject to limitations) and businesses essential for self-support are “non-countable” when applying for long-term care Medicaid, there are numerous exceptions to avoid a successful claim by the State to be paid back for benefits (such...
The granddaughter of an elderly California resident was recently sentenced to jail for 17 years for elder abuse after her grandmother was discovered with open wounds and bed sores which resulted in the grandmother’s death due to the granddaughter’s (and daughter’s) neglect. The daughter (who...
The law evolves as technology does, therefore planning must change as well. Most Americans now have “digital assets” – but probably don’t know what this type of asset is. A digital asset is an electronic record in which an individual has a right or interest....
