The Livens Law Firm

November 2017 Archives

Will the death tax impact estate assets?

Worldly possessions handed down to heirs may be subject to an estate tax, also known as the death tax. Some states and the federal government charge this tax based on the value of a property after an owner's death. It does not apply to every estate, and most never end up paying it. In Texas, an estate may be exempt from paying any death tax depending on its value.

Elderly planning and the 4 percent retirement rule

When saving for retirement, many seniors are diligent, but studies show it may be hard to decide how much money one will need to live comfortably during the golden years. When considering elderly planning, there is a simple tool that can help in making wise long-term financial choices. In Texas, taking the time to research the 4 percent rule may help seniors plump up their nest eggs.

When executor fails to do his or her job -- The Max Hopper case

Texas residents may have heard about the significant verdict coming out of a Dallas probate court regarding the estate of Max Hopper. The multi-billion-dollar verdict was awarded to Mr. Hopper's heirs after they claimed the executor failed to administer the estate appropriately. While a jury may have sided with the deceased family, this case is far from over.

Planning for long-term care can be a challenge

When seniors plan for retirement and long-term care, most do not include a plan for debilitating illnesses. Being proactive and building a long-term care plan can ease the financial burden for the primary caregiver, who is usually the spouse. While the plan may never be put into motion, options are limited once an illness hits. In Texas, when devising a long-term plan, it is advisable to include one's family in long-term decision making.

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