In Texas and elsewhere, there is a lot of attention paid to the expanding topic of the integration of estate planning procedures and the so-called "digital assets" that many people are beginning to amass. It is currently a "catch-up" process as the law tries to keep up with the lightning pace of online computing growth. However, the legal system is adjusting and the process of asset protection of digital assets is quickly getting up to par.
Asset protection of digital assets is part of estate planning
Facts to know during National Long-Term Care Awareness Month
Texas and other states recognize November as National Long-Term Care Awareness Month. Everyone should take a serious look at this topic because the costs of long\-term care can easily wipe out one's retirement assets and deny the funds to one's heirs after death. Well-known statistics make it doubly hard to ignore the subject in that most elderly persons will need such care in one form or another at some point in time.
Texas estate planning permits handwritten wills
Many people have definite ideas about what should happen to their estates after they die. Nevertheless, most people have not made provisions for their assets by writing a will or establishing a trust. For some, it may be the difficulty of considering their own mortality that causes them to delay estate planning. Others may believe making a formal will is too expensive. In Texas, however, there is an alternative.
Estate planning gives choices for privacy and preserving assets
In Texas, as elsewhere, when a person dies with assets in his or her name, there must usually be an estate filed to account for the assets, pay bills and fees and administer the deceased person's estate. What is left is the proceeds that may be distributed to the beneficiaries. If the decedent engaged in estate planning during life, the estate will end up being distributed as he or she desired.
