The Livens Law Firm

September 2014 Archives

Term insurance is a useful tool that can avoid probate expenses

In Texas and all other states, term life insurance can serve a number of uses for estate-planning purposes. Life insurance generally does not go through probate but passes directly to the named beneficiary. In the event that there is no named beneficiary, the proceeds will go to the estate by default and the funds will be subject to probate. In that instance, the life insurance proceeds will be counted as part of the gross estate of the decedent.

Timely elderly planning helps both the parent and the caregiver

In Texas and elsewhere, being a caregiver for an elderly loved one can be a multi-faceted, daunting task. In addition to the emotional and physical demands of spending many hours each week assisting the parent with a variety of tasks, there are substantial economic demands that can take a toll. That's why elderly planning is an important function that can establish a successful framework for satisfying the many different needs of both the elderly loved one and the family caregiver.

The need for a living will was shown in Joan Rivers' death

Due to medical advances and active lifestyles, many Texas residents look forward to living to a ripe old age.  Even so, unexpected events can occur that can change everything. Without a living will, family members may never know what their loved one would have wanted when it comes to making end-of-life decisions.  With the recent death of Joan Rivers, many people may be rethinking their estate plans.

Estate planning usually means much more than just a will

In Texas and anywhere else, elderly family members sometimes die without leaving all of the pertinent information to guide their heirs in processing matters as they would have wished. There are matters, such as papers relating to the right to a military burial, that may be never passed on to assure that such a burial occurs. One woman's right to have her remains cremated and scattered at sea was never confirmed prior to death. Special circumstances like these must be incorporated into estate planning documentation and discussed with family members during the loved one's life.

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