Livens & Reed, PLLC

February 2020 Archives

Is medical debt a priority during probate?

When a person dies, the surviving family often has a lot to handle in order to close the remaining estate. Often, the majority of tasks associated with probate fall to the executor of a Texas estate. Though many bills may need paying after a loved one's passing, some parties may wonder specifically about medical bills.

Interested in a Ladybird deed?

Do you have a loved one who will likely need long-term care in the years to come? Many Texas residents end up in this position, but they often lack the funds they need to pay for this type of care -- which can cost thousands a month. The state offers something called a Ladybird deed, which may help those needing LTC to afford it.

Advice for those whose inheritance includes a Roth IRA

Retirement plans can have several different components. They not only take care of an account holder, but can be passed on to a family member or another individual after the account holder has passed on. Some of them include a retirement account known as a Roth IRA. When this type of retirement account is part of an inheritance, the beneficiary may have many questions about what to do with it. Fortunately, experts have several helpful suggestions for anyone here in Texas in this situation.

Living trusts can have various benefits depending on the type

When looking into estate planning options, some Texas residents may want to rearrange some of their assets. Living trusts can help them transfer ownership of those assets before their passing and help give them more control over the distribution of those assets later. Plus, trusts can lessen the delays that beneficiaries may encounter when waiting on their bequests.

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