Wills are among the most basic legal and estate planning documents, and among the most important, but they don't cover everything. There are several types of assets and end-of-life wishes that are best set forth in other legal documents rather than a will. For people...
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Wells, Peyton, Greenberg & Hunt, L.L.P. Blogs
LLCs and corporations may be taxed differently
When it comes to choosing a type of business entity for operations in Texas, the question often comes down to a corporation or a limited liability company. The choice between the two forms depends on the type of business being created, potential tax consequences and...
The potential consequences of not opening probate
As part of a will, an individual can name the person who will represent his or her estate during a Texas probate proceeding. However, there is a chance that the executor will die before the person who created the will does. There is also a chance that the appointed...
Keeping the lives of children as normal as possible during a divorce
When parents make the decision to begin the divorce process in Texas, there are ways that they can help their children understand what to expect and the changes that they might see. One of the things that parents might not want to do right away is to tell the children...
Taking the time to decide whether to split
Though Texas has started the process of reopening, the long self-quarantine that preceded it has taken a toll on some marriages. Couples who would normally go to their separate jobs may still be working in the same room at home, getting no break from each other. This...
When to create or revise a will
If a person has assets to his or her name but no plan for passing those along to loved ones, it may be time to start thinking about estate planning. Even Texas residents who have wills already may not realize when it is time to make revisions. Though it is always a...
Know the importance of your estate plan
Many people think that estate planning in Texas is for those who are wealthy because they look at it as solely about estate taxes. However, you should know that the need for estate planning applies to you regardless, even if you do not have a lot of money. Do not...
Take steps to preserve credit during a divorce
A Texas divorce is not in itself a fatal blow to a credit score. However, what happens during the divorce can curtail one's creditworthiness. Many have reported that their credit score has fallen by more than 50 points during their divorce. These impacts can be...
Transferring or selling estate assets after death
When people die in Texas, others will be tasked with disposing of their estates. The estate of a deceased person includes all of his or her real estate, personal property, and other assets. Before the assets of the estate can be sold or transferred, several things...
Having an estate plan is critical
Many Texas families try to avoid the topic of estate planning at all costs. Whether it is because of the complexity involved or they simply do not want to talk about mortality, they are often afraid to broach the topic. However, people do themselves a disservice when...