Frequently Asked Questions About Estate Planning

Is Real Property Purchased with an Inheritance during Marriage Separate or Community Property?

Texas is a community property state. Property is classified as community or separate property depending on when and how it was acquired. In Texas, all property acquired during marriage is presumed to be community. Property acquired before a marriage and during the marriage by gift, devise or descent is characterized as separate property. Property retains … Read More

Will My Estate Be Responsible For My Student Loans?

Statistically, having a bachelor’s degree doubles your lifetime earning potential. But that degree often comes with a high cost, which most families are unable to afford without a loan. According to a recent study, approximately two-thirds of college students borrow money to finance their education, and the average debt for college graduates in 2010 was … Read More

Should I Deed My Home To My Kids Before I Die?

Not too long ago someone called me wondering if he really needed a will. He explained that his mother had transferred her home to him many years before she died. When she died, probate wasn’t necessary.  “Is there a reason why I shouldn’t do that?” he asked. Our conversation brought to mind a story I … Read More

Where Should I Store My Estate Planning Documents?

So you’ve gotten your estate planning done. Great! But now what? Where do you keep these documents so that they can be they can be used to carry out your wishes in the event of your incapacity or death? Here are a few suggestions: Estate planning documents can be stored in your home A secure … Read More