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What Rights to Beneficiaries of Transfer on Death Deeds Have During the Homeowner’s Life?

A Texas transfer on death deed is a beneficiary designation for your home. It works like a beneficiary designation on a life insurance policy or a…

Should I Name My Estate as the Beneficiary of my IRA?

A client was confused. He knew that the federal estate tax only applied to estates in excess of $11 million, so he didn’t understand why significant taxes…

Avoiding Guardianship in Old Age

A few weeks ago, a client alerted me to an episode of the John Oliver show about guardianships gone wrong. A guardian is someone appointed by…

Does Your Insurance Policy Name Your Ex-Spouse As a Beneficiary?

Suppose you have a life insurance policy issued as part of an employee benefit plan which identifies your spouse as your primary beneficiary and your adult daughter…

Can a Relative Notarize My Estate Planning Documents?

According to the Texas Secretary of State, there is no rule that specifically prohibits a notary from notarizing documents for a relative; however, notaries should refrain from notarizing…

Estate Planning For College Students

Eighteen years ago, as I strolled through Babies”R”Us with my newborn baby propped on my shoulder, a middle-aged woman walked up to me and said: “Enjoy…

Did the Tax Cuts and Jobs Act Preserve the Step-Up in Basis?

Under our country’s tax laws, it is the person making a gift (the donor) who is responsible for any gift tax that is due. The gift’s recipient…

The State of the Estate Tax After Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act was signed into law on December 22, 2017. It represents the most significant tax overhaul in decades. Although efforts by the…