Articles

Jan 12, 2021

What Does a Biden Presidency Mean for Estate Taxes?

2022-08-17T19:56:25+00:00January 12th, 2021|Tags: , , , , , , |

Estate Tax Planning in a Biden Presidency (part 1) To begin with, let’s NOT talk politics!  But reality is, we are in the process of changing  administrations, and possibly a change of control of the Senate.  The November election has raised the very real possibility that a new tax act will be proposed by [...]

Jan 5, 2021

What Are You Waiting For?

2022-08-17T19:56:25+00:00January 5th, 2021|Tags: , |

David Pyke with Pyke and Associates here, I have two things to say to you today.  First, Happy New Year! And do we mean that now this year more than ever. We all wanted to see 2020 go in our rear-view mirror and I’m especially happy for that. The second thing I have [...]

Dec 22, 2020

What is Estate Planning?

2022-08-17T19:56:25+00:00December 22nd, 2020|Tags: , , , |

I was talking to a friend recently who innocently confessed that he just didn't understand what I meant by "estate planning."  I guess, like other attorneys, I take for granted that people understand what we mean by estate planning.  Simply put, what I mean by estate planning is planning for the eventuality of death and [...]

Dec 15, 2020

Is Guardianship Always Expensive?

2022-08-17T19:56:26+00:00December 15th, 2020|Tags: , , , , |

If you've ever known a family that had to create a guardianship, you may have heard that the expense was extremely high.  It definitely can be.  Guardianship is a complex process requiring the court to involve multiple attorneys that are highly trained to find the best solutions for someone who is mentally incapacitated.  So, guardianship [...]

Dec 8, 2020

If I Die Without a Will, How Bad Could It Be?

2022-08-17T19:56:26+00:00December 8th, 2020|Tags: , , |

If someone dies without a Will, does that guarantee years of probate expense?  There is no doubt that if someone dies without a Will, the cost to transfer their property will be higher than if they had a Will.  In most cases, an heirship proceeding is necessary which is about double the cost of probating [...]

Nov 30, 2020

Protecting Your Legacy Assets

2022-08-17T19:56:26+00:00November 30th, 2020|Tags: , , |

Do you have “Legacy Assets”? In the attached video, I discuss these assets and the issues that they present in estate planning. First of all, what do I mean by a “Legacy Asset?”. It’s an asset that your intention is to pass through multiple generations without being sold. The most common types of [...]

Nov 24, 2020

When is the Best Time to Consider Medicaid Planning?

2022-08-17T19:56:27+00:00November 24th, 2020|Tags: , , , |

There is a “goldilocks” time to do Medicaid planning, but it can be a wide range.  You can be too young, but you can also be too late. An ideal time to consider Medicaid planning is after retirement (unless your idea of retirement is 90!), especially if you have stable income and expenses.  In almost [...]

Nov 17, 2020

What is the Purpose of Probate?

2022-08-17T19:56:27+00:00November 17th, 2020|Tags: , , , , |

Probate sounds like a nasty thing that your family is trapped into when someone dies.  Probate can be difficult and expensive, even when there is no dispute, in some countries and some states.  Luckily, Texas has very modern, streamlined probate rules.  But why do we have those rules at all? Probate is the process of [...]

Nov 11, 2020

Can I adversely possess your parent’s or ancestor’s house to obtain title without probate?

2022-08-17T19:56:27+00:00November 11th, 2020|Tags: , , |

A common question we get is: Can I Just Continue to Live in Mom’s Property that I have inherited without going through probate and eventually get title? Most people think that if they live in the property of their deceased relative  or if they pay taxes on the property they will eventually own [...]

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