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Estate Plan Lessons from DeMuth v. Commissioner: Lifetime Gifts and Taxes
November 22nd, 2023
Lifetime gifts are a popular way to reduce estate and inheritance taxes. Currently, only estates worth $12.92 million or more are subject to the federal estate tax. Twelve states and the District of Columbia levy an additional estate or inheritance t…
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Categories: Estate Planning
What Do I Do If I Want to Undo My Revoked Will?
November 8th, 2023
When life circumstances change, you may alter the decisions you have made in your estate planning documents. You might choose to revoke your will at some point. But what if you have a change of heart and want to reinstate it? There are different ways…
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What Happens to My Leased Car If I Die Before the Lease Term Ends?
November 1st, 2023
After a house, a car is often the second-most valuable piece of property a person owns. And although the number has been falling, about 15–20 percent of new vehicles are leased rather than purchased and financed. Leasing is a popular alternative to…
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How Far in Advance Can I Begin My Estate Planning?
October 25th, 2023
You can create your estate plan at any time, but many people choose to begin the process of estate planning sooner rather than later. Why? Because you never know when life-changing medical or financial emergencies can strike that will require someone…
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Sometimes Stuff Is the Most Important Part of Your Estate Plan
October 18th, 2023
Most people usually think about who will receive their retirement and bank accounts, life insurance proceeds, real estate, and other valuable possessions upon their death. However, a person’s personal property (their stuff) can also be a source of…
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When Families are Estranged: What is the Impact on Estate Planning?
October 11th, 2023
Unfortunately, rifts sometimes arise between family members that are much more serious than just temporary squabbles. The result may be estrangement, defined as “the state of being alienated or separated in feeling or affection; a state of hostilit…
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Beware of Unequal Contributions When Buying a Home
October 4th, 2023
At a time of record home unaffordability, more people are teaming up with friends and relatives to realize the home ownership dream of buying a home. According to the National Association of Realtors (NAR), more than 75 percent of homes on the market…
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Four Things Your Spouse Should Know Before You Die
September 27th, 2023
It is normal for spouses to share almost every aspect of their lives with each other. But when it comes to death, even the closest couples might become tight-lipped about certain topics. According to one study, half of all couples fail to discuss the…
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Collecting A Debt on Behalf of Your Deceased Loved One
September 20th, 2023
People often engage in transactions that result in money being owed to them, such as loaning money to a friend or business partner or renting a house to a tenant. But what happens if someone passes away before they receive payback of that debt, the m…
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Could a Testamentary Trust Be What Your Loved Ones Need?
September 6th, 2023
One of the main reasons that a person creates a revocable living trust (a trust established during a person’s lifetime that they can amend or revoke) instead of relying on a will to transfer their money and property to their beneficiaries is to avo…
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Attorney Jana McCreary
Houston Estate Planning Attorney Jana R. McCreary has been an attorney for over twenty years, a career move she made after working for over a decade with adults and children with intellectual disabilities and mental illness. Graduating summa cum laud… Read More