When it comes to estate planning, it's important that all matters are included in documents. A large number of households in Texas and throughout the United States have pets. Pet owners may benefit from advanced estate planning regarding what will happen to the pet in case the inevitable happens.
Pet trusts in estate planning for Texas residents
What happens to Texas families without a will?
Believe it or not, over half of those who are between the ages of 55 and 64 do not have a will in place. A will is vital to include in an estate since it gives instructions on how to distribute assets. Without a will, the state of Texas may make the decision on distribution.
How Texas residents can avoid estate plan mistakes
Most Texas residents have heard that it's important to have an estate plan. For those who are not aware of what estate planning is, it's the act of coordinating how personal and financial matters are dealt with in case of death or incapacity. One of the most common estate planning documents is a will, but only having that document could prove to be a costly mistake for Texas families.
Reduce Texas estate tax through giving
Estate planning can ensure accurate distribution of assets among one's beneficiaries. It's vital for Texas residents to be aware of estate tax. Grantors may be able to avoid estate tax through giving.
