Livens & Reed, PLLC

December 2013 Archives

Texas estate planning: Prepare to tax changes

The end of the year is coming and it's a perfect time for those who have assets to appoint beneficiaries and keep up-to-date on new laws. Estate planning plays a vital role in the future of Texas consumer's assets. For those who already have a plan in place, it can be important to review and update pertinent information in regard to tax changes.

Estate planning advice: Trustee discretion

When Texas residents are planning their estate, many choose to create a trust in order to hold wealth intended for one or more beneficiaries. In doing so, they must also appoint a trustee, who is the individual responsible for administering the trust according to the wishes of the deceased. Doing so, however, can be a challenging aspect of one's estate planning, as there are a variety of choices available as to what level of discretion can be granted.

Probate can have negative outcomes in Texas

When distributing assets from an estate, sometimes beneficiaries go through the process of probate. In regard to probate, there is a difference between non-probate transfers and probate estate. Avoiding probate can help Texas estate owners safeguard their assets for their beneficiaries.

Do Texas beneficiaries need to probate a savings account?

A well-drafted will is an important part of estate planning. Even with a will in place, there are certain aspects that may be missing which may lead to probate. However, there are some exceptions to the rule and Texas beneficiaries may be able to participate in small estate administration.


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Livens & Reed, PLLC

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