An 18th Birthday Gift? A Simple Estate Plan Would be Ideal
You’re young, healthy, in your late teens or early 20s — just starting your life. Why do you need to think about estate planning? Because you never know what tomorrow will bring. Estate planning isn’t just planning for your death. In many ways, it’s planning for your life. Once you turn 18, there are things…
Read MoreWhat Does an Agreed or Uncontested Divorce Look Like?
Texas couples who know their marriage isn’t going to last have options. Many people think that the only choice for a divorce is to have the family courts make all the major decisions. However, you and your spouse can speed up the divorce process and reduce how much it costs by filing for an agreed…
Read MoreCan a Special Needs Trust Help Your Loved One with Special Needs?
People often think of trusts as a way for the very wealthy to pass on assets to their children without paying taxes. However, trusts can also serve as a way for family members to protect their vulnerable loved ones. A special needs trust gives you the opportunity to provide financial protections for someone you love…
Read MoreWhat are the Most Common Reasons that Couples Get Divorced?
Years ago, divorce only occurred in situations where one spouse could prove fault, and the grounds for fault were very restrictive. These days, no-fault divorces have become the standard, which means neither spouse has to prove the other is responsible for the divorce. For those considering divorce, it is common to wonder if the reason…
Read MoreGetting Your Kids On Board with Your Post-Divorce Move
You and your spouse decided to divorce, and you’ve both been wonderful about keeping your kids out of arguments or disputes. Now that the divorce is happening and you have a handle on many of the disputes around custody, it’s time to move into your new home. Should the kids have a part in the…
Read MoreIs a Simple Will Right for Your Estate Plan?
You’re starting to think about creating your estate plan, but it can be confusing. How do you know what is right for you? Simple will? Trust? Something else? Let’s start with a simple will. This is a basic estate planning document that everyone should have at minimum. They can do the following: Name a guardian…
Read MoreAre You in a Loveless Marriage? 6 Questions to Ask Yourself
Your relationship has seen better days, but is it really time to end your marriage? Such decisions seldom come easily, even when you’ve been mulling over the possibilities for a while. Before you decide if your marriage is really on life support, consider these questions: Is your spouse a source of physical stress? If you…
Read MoreIMMEDIATE RELIEF FOR SMALL BUSINESS OWNERS UNDER THE NEW MANDATORY PAID LEAVE LAW
Last week, President Trump signed the Families First Coronavirus Response Act (FFCRA or the Act) enacting a temporary/mandatory paid emergency leave requirement and expanded the Family & Medical Leave Act. Generally: The Act takes effect on April 2, 2020. The Act impacts all private employers that employ 500 or fewer employees. Paid Leave capped at…
Read MoreHow to Minimize Spousal Support Taxes
For decades, the tax laws regarding spousal support went virtually unchanged: The paying spouse was able to deduct spousal support from their taxes, and the receiving spouse had to pay the taxes on it. In practical terms, that could help reduce the total being paid on the money and generally encouraged paying spouses to be…
Read MoreWhat Will a Texas Divorce do to Your 401(k) Account or Pension?
Divorce is a kind of financial double whammy. At the same time that your household income drops because you end your marriage, you will also incur substantial costs related to court fees and other legal expenses due to your divorce. When you add to all of that the fact that you will likely need to…
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