Heading to college is a significant milestone in a young adult's life. It is a time filled with new experiences and opportunities. However, it is also often a time of new autonomy from your parents in the eyes of the law. Preparing certain legal documents can protect you in emergencies and provide … [Read more...]
Can You Put a Business in a Trust?
When considering estate planning, business owners wonder if they can put a business in a trust. For many business owners, their company is one of their most valuable business assets. Protecting it is a top priority both during their lifetime and for future. So, can you put a business in a trust? The … [Read more...]
9 Reasons You Need a Revocable Living Trust in Texas
When contemplating your estate planning options, you may wonder, "Do I need a revocable living trust?" Particularly, you might worry about the ease with which your heirs will inherit and manage their portions of your estate. A revocable living trust (RLT) offers a flexible solution, allowing you … [Read more...]
Putting a House in a Trust in Texas: Protecting Your Legacy
As an estate planning attorney in Texas, my clients often ask about trusts. One morning, Harris, a long-time client, called me after years of delay, ready to finally put his estate plan in order. He was curious about whether he should put his house in a trust. In his late 50s, Harris had a nice … [Read more...]
Does a Will Override a Trust? Understanding Legal Priorities
Crafting a comprehensive estate plan involves numerous crucial decisions. One question that often surfaces is, "does a will override a trust?" This inquiry arises because both wills and trusts serve as legal tools for guiding the distribution of assets after one's passing. However, they operate … [Read more...]
How Grandparents Can Use 529 Plans to Support Their Grandchildren’s Education | Warren & Migliaccio
The Cycle Continues Your adult children — one of the first generations to benefit from Section 529 plans — are saving for their kids’ college educations through 529 accounts of their own. Did you know that parents aren’t the only ones who can establish 529 plan accounts? As a grandparent, you can … [Read more...]
Importance of Beneficiary Designations in Estate Planning | Warren & Migliaccio
The Importance of Keeping Beneficiary Designations Updated: A Lesson from the Rolison Estate Case When it comes to estate planning, one of the most overlooked but critically important tasks is ensuring that your beneficiary designations are up to date. A recent case involving Procter & Gamble … [Read more...]
Estate Planning Strategies to Protect and Manage Your Mineral Rights Assets | Warren & Migliaccio
Planning for Mineral Rights in Estate Planning Properly planning for mineral rights is a critical component of estate planning, especially for landowners with significant mineral resources. These rights can greatly influence the value and management of an estate, making it essential to protect and … [Read more...]
Don’t Let the Clock Run Out: Maximizing the Estate Tax and Lifetime Gifts Exemption | Warren & Migliaccio
Tax Relief and the Uncertain Fate of the Estate Tax and Lifetime Gifts Exemption In 2017, the Tax Cuts and Jobs Act (Tax Act) introduced various forms of tax relief, including a significant increase in the Estate Tax and Lifetime Gifts Exemption (Exemption). However, these tax cuts are set to expire … [Read more...]
Estate Planning Pitfall: You Haven’t Informed Your Family About Your Estate Plan | JD Supra | Warren & Migliaccio
Discussing Estate Plans with Family to Avoid Future Discord There’s no doubt that creating an estate plan can be a significant task. However, once you’ve put all the pieces of your plan together, it can bring a sense of peace and security. To ensure this peace of mind extends to your loved ones, … [Read more...]
