Uncategorized

What Is an Irrevocable Life Insurance Trust (ILIT)?

An Irrevocable Life Insurance Trust, or “ILIT” is an irrevocable trust that own life insurance.  Historically, Americans have used ILITs as a vehicle to make gifts to beneficiaries…

Uncategorized

What is a Miller Trust?

A Miller Trust, or qualified income trust, is an irrevocable trust that allows individuals qualify for Medicaid long-term care services, such as nursing home care, when they earn…

Estate Planning, Retirement and End of Life Care, Uncategorized

How to Talk with Someone who is Grieving

Attorney Rania Combs provides some helpful tips for navigating conversations with someone who is grieving after the loss of a loved one.

Uncategorized

Similarities and Differences between Lady Bird Deeds and Transfer on Death Deeds

Both Lady Bird Deeds and Texas Transfer on Death Deeds are essentially beneficiary designations for your real estate.  Lady Bird Deeds are a product of common law, whereas Transfer…

The Risk of DIY Planning, Uncategorized, Wills

Free Texas Will Forms

Estate planning is as important for small estates as for large ones. We all have the potential of becoming incapacitated. Therefore, having documents in place that allows trusted…

Uncategorized

Time is of the Essence with Estate Planning

“I don’t plan to die next week,” my clients often tell me. They convince themselves there is no urgency in completing or finalizing their estate plans. The truth is…

Uncategorized

Estate Planning for Pets

This is my dog, Jilly. She’s a 15-pound mutt my family adopted 11 years ago. When we adopted her, we suspected she was a terrier mix, but she’s…

Uncategorized

Texas Extends Rule Against Perpetuities to 300 Years

The Rule Against Perpetuities is the bane of every first-year law student’s existence. It provides: no interest is good unless it must vest, if at all, no later…

Uncategorized

Potential Capital Gains Tax Changes Ahead for Inherited Property

Capital gains tax is a type of tax you have to pay when you sell an appreciated asset. You calculate it by subtracting your purchase price (known as…