On behalf of Law Thompson, P.C. | Dec 18, 2020 | estate planning
Estate planning can surface lots of emotions and opinions for many families in Texas. While experts recommend that estate planning be a family affair, going about it the wrong way can backfire and create dissonance. When people understand how to bring up the topic of...
On behalf of Law Thompson, P.C. | Oct 29, 2020 | estate planning
One nagging thought that may remain in your head throughout the estate planning process is that many of the assets you have earmarked for your beneficiaries will inevitably go towards paying the estate’s taxes. Yet, is this truly the case? As one of the primary...
On behalf of Law Thompson, P.C. | Sep 16, 2020 | estate planning
Estate planning is a task that many in Texas often do not look forward to. One need only consider the fact that (according to Gallup) barely only 44% of American adults actually have a will. The reason why may be due to the fact that estate planning goes far beyond...
On behalf of Law Thompson, P.C. | Jul 31, 2020 | estate planning
Dealing with someone’s estate and property after they die may seem like a daunting task. However, the process of probate is an important step in dealing with these debts and assets, along with fulfilling the person’s final wishes. Definition According to...
On behalf of Law Thompson, P.C. | May 22, 2020 | estate planning
When Texas residents begin working on an estate plan, what should they focus on? Depending on the source, they may get different answers. But one thing is certain. Everyone understands the importance of an executor. An executor handles matters of your will and estate...
On behalf of Law Thompson, P.C. | Apr 27, 2020 | estate planning
Sometimes, setting up an estate plan is relatively straightforward and people have a lot of confidence in their decisions. In other cases, people are unsure if they made the right decision with respect to the type of estate plan they decided to create, the person they...
On behalf of Law Thompson, P.C. | Apr 8, 2020 | estate planning
When it comes to estate planning, many younger adults might not think they need to worry about creating a will or a trust. However, people of all ages can benefit from laying out their wishes should they die or become incapacitated due to an accident. For adults with...
On behalf of Law Thompson, P.C. | Mar 2, 2020 | estate planning
Most financial advisers agree that estate planning should begin at a young age. The needs of younger individuals and couples, though, are not necessarily the same as that of an older couple. What, then, should a person in his or her twenties concentrate on when...
On behalf of Law Thompson, P.C. | Feb 21, 2020 | estate planning
According to the American Council on Aging, as of October of 2019, a private room in a Houston area nursing home costs an average of $205 per day, or $74,825 per year. For a shared room, an elderly Texan may expect to pay $170 per day, or $62,050 per year. Most people...
On behalf of Law Thompson, P.C. | Nov 27, 2019 | estate planning
Another year is coming to a close in Texas and the new year is looming. With its approach people frequently review the past and consider plans for the future. Among those plans may be thoughts of estate planning. But what exactly does that entail and who should be...
