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Austin 800-569-2663 Addison (Dallas) 972-685-5202

Estate Planning Professionals Providing Peace of MindCPAs and Attorneys

November 2014 Archives

Estate planning can benefit by the use of living trusts

There are many reasons why an estate plan in Texas might include the use of living revocable trusts. Such living trusts give the grantor the opportunity to distribute assets while alive and to fashion trusts in the shape and manner desired to provide for one's heirs. Because they are revocable, the grantor retains control over the assets should changes be desired.

Celebrities make mistakes in their estate planning provisions

Mistakes in the estate plans of recently deceased celebrities can be useful learning examples for residents of Texas or elsewhere. For example, a living trust is attractive to celebrities and many people because the terms remain private: it does not go through the public probate process at death. However, a seemingly unimportant estate planning mishap can defeat one of its major goals.

Elderly planning includes choices of agents and caregivers

Residents of Texas and elsewhere may sometimes have difficulty deciding which children or loved ones to designate to handle one's individual estate planning and long-term care needs. While one's spouse is the natural first choice, it may turn out that the spouse passes away first and leaves a void in the documents, unless you have alternative choices included in them. Therefore, it's generally advisable to discuss these questions with your children and to make mutually understood elderly planning decisions prior to drawing up the documents.

Living will provides security for final healthcare decisions

Estate planning in Texas includes the area of making medical decisions for your loved one in the event of incapacity. Advanced directives are used to provide guidance for medical decisions after incapacitation and the inability of the loved to communicate his or her own wishes. One commonly used directive is the living will.  It's important to remember that this and other directives should be discussed with the loved one while still alert and communicative so as to assure his or her wishes are carried out.

Our Office Locations

The Livens Law Firm
2516 Harwood Road
Bedford (Fort Worth), TX 76021
Phone: 817-545-3425
Toll Free: 800-569-2663
Fax: 817-545-9847
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Austin Office
3 Lakeway Centre Court
Suite 120
Austin, TX 78734
Phone: 800-569-2663
Fax: 888-545-9847
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Addison Office
14135 Midway Rd.
Suite G-250
Addison, TX 75001
Phone: 972-685-5202
Fax: 972-685-5206
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