How to Use Estate Planning to Teach Your Adult Children Financial Responsibility
While schools today seem to be a bit better at teaching kids the basic financial skills that are important to navigating adult life (how to create and follow a budget, what in the world APR is, why you generally want to avoid payday loan places), there’s still a long way to go. And if you […]
Tips for Talking to Your Family about End-of-Life Care
Does discussing end-of-life care and death planning make you uncomfortable? Unfortunately, it’s an essential part of communicating our wishes and needs. These conversations touch on aging, death, and finances– all of which can bring up some difficult emotions among the people we love. Addressing these issues early, before a serious injury or illness makes it […]
Family Dynamics in Estate Planning – How Should We Navigate Them?
For Easter, we’d like to consider what it means to navigate family dynamics in estate planning. These dynamics require careful consideration and tact from both the attorney and family members. Estate planning is not just about distributing assets, after all; we must consider and manage the complex relationships, history, and emotions within a family. Let’s […]
Planning for Your Pets: Pet Trusts and Other Options
Many of you know that we’re a dog-friendly business; our office dog, Sammy, comes to work every day here at the Slaton Schauer Law Firm, PLLC. Pets are not only occasional co-workers, but are often members of the family as well– deserving of care and protection even in the absence of their owners. Planning for […]
Have you heard of a “rabbi” trust?
Did somebody say “rabbit” trust? Let’s talk about an interesting type of trust – the “rabbi” trust. Named for their originator, a rabbi and his congregation, these trusts are occasionally used by employers to provide key employees with compensation in an irrevocable package. In essence, rabbi trusts are a type of irrevocable trust. […]
Quick Guide to Probate
What is probate? Why does it matter in estate and legacy planning? Could you use a quick guide to probate in an easy-to-follow video primer? This short video explains the basic steps in a Texas probate. At its most fundamental level, probate is the process of determining who will carry out your wishes, what you […]
When Might I Pay Capital Gains Taxes?
Here at the Slaton Schauer Law Firm, PLLC, people often ask us about taxation of capital gains. Commonly, you may wonder if you are responsible for capital gains that accumulated during the life of the person that left you the inheritance. If they never realized a gain, the taxes would be unpaid, so it would […]
The Importance of Being Earnestly Insured
Transferring real estate to a trust has become a widely used tool in estate planning. Unfortunately, it’s easy to overlook important aspects of the transfer that lead to unintended consequences. With careful planning, you can avoid these traps. Read on to learn more.