${site.data.firmName}${SEMFirmNameAlt} - CPAs and  Attorneys

Free Initial Consultation | Se Habla Español

800-569-2663

Bedford (Fort Worth) 817-545-3425 toll free 800-569-2663

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

Estate Planning Professionals Providing Peace of MindCPAs and Attorneys

November 2015 Archives

Elderly planning includes setting future financial parameters

One of the main goals of estate planning clients is that they not become a burden on their children during their twilight years. Lifestyle independence is a primary objective for many of these clients. If they have to obtain the services of a caregiver at any time in the future, they much prefer that their children not be burdened with that job. Elderly planning in Texas thus involves adopting a financial plan that will prevent depletion of one's resources through long-term care costs and, ideally, still leave an inheritance for one's children.

Online accounts and assets require treatment in one's last will

People in Texas and throughout the country are becoming increasingly aware of the need to provide for their online files and "assets" in their estate plan. At the least, many people want to assure that their personal representative has the legal authority to either maintain, modify or shut down their online pages and accounts. For some online matters, the testator will provide in his or her last will that the personal representative may take certain requested actions and make certain specified dispositions.

Single persons need a will or trust as much as married couples

When a single person dies without estate planning in Texas and elsewhere, the assets are generally divided among their children, and if there are none, then to the parents, siblings, and so on. The statutory order of asset division may vary slightly from state to state. If there are no blood heirs, the estate may pass to the state government of residence. The unwanted results caused by intestacy (having no will) can be avoided by drawing up an estate plan that includes a will and/or living trust.

Long-term care insurance requires a long-term commitment

There are pros and cons about buying long-term care insurance. Because the average annual cost for nursing home care nationwide and in Texas is up to $91,250, it is at least worth it for a person approaching retirement to consider whether it is the right move. One caveat: purchasing a long-term care insurance policy requires a confirmed commitment that if one defaults on the premiums, all of the money paid to date is forfeited.

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
Map and Directions

Austin Office
3 Lakeway Centre Court
Suite 120
Austin, TX 78734
Phone: 800-569-2663
Fax: 888-545-9847
Map and Directions

Addison Office
14135 Midway Rd.
Suite G-250
Addison, TX 75001
Phone: 972-685-5202
Fax: 972-685-5206
Map and Directions

Free Initial Consultation | Se Habla Español

Member Wealth Counsel Elder Counsel Your success our commitment Excellence in elder law and  special needs Member NAELA National Academy of elder law Attorneys Inc. Member ASNP Academy of special needs planners members