Irrevocable Life Insurance Trusts (ILITs) are Texas's powerful estate planning tool. These trusts hold life insurance policies and distribute the benefits according to your wishes while minimizing estate taxes. There are four main reasons why ILITs are important: 1....
Estate Planning And Probate
When is it acceptable to leave unequal inheritances?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Sep 21, 2023 | Estate Planning And Probate
Inheritance is a tense subject in any Texas family. It can be particularly fraught when a parent is considering leaving an unequal inheritance. These inheritances must be handled carefully or they have the potential to tear a family apart. How unequal inheritance...
What to know about ancillary probate
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Sep 14, 2023 | Estate Planning And Probate
If you own property in Texas, state law will determine how that property is dealt with after you die. In the event that you own property in multiple states, your estate will likely need to go through a process called ancillary probate. Ancillary probate occurs...
Estate planning and a new child’s arrival
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Sep 7, 2023 | Estate Planning And Probate
The arrival of a child, whether expected or unexpected, comes with additional concerns. Namely, parents and guardians in Texas must consider the child's welfare if they pass away prematurely. Effective estate planning could help address search concerns. Comprehensive...
What are the duties of an executor in Texas?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Aug 23, 2023 | Estate Planning And Probate
Being an executor of an estate plan in Texas can be daunting. The executor must take on a significant amount of responsibility during an emotional time. Depending on the estate plan, the role might look a little different, but executors are generally expected to...
Best estate planning tips for entrepreneurs in Texas
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Jul 12, 2023 | Estate Planning And Probate
Business owners and entrepreneurs in Texas know the importance of planning. The same concept can be applied to their estate planning. Many entrepreneurs aren't considering estate planning when trying to get their business off the ground. It's more important than ever...
Understanding how to select your attorney-in-fact
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | May 9, 2023 | Estate Planning And Probate
One of the most essential elements of an estate plan for Texas residents is creating a power of attorney for financial matters. This document is necessary if someone becomes incapacitated and cannot make their own decisions. The person you select as your...
Watch out for these Texas beneficiary designation missteps
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Mar 9, 2023 | Estate Planning And Probate
A beneficiary designation gives you the power to transfer your assets straight to your intended inheritor. All you have to do in this process is complete a form and file it with the financial company that holds the asset. In this form, you also designate the person to...
Talking to your parents about their estate plan
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Feb 16, 2023 | Estate Planning And Probate
When a parent dies, there is a chance that you will inherit assets such as a car, boat or a Texas home. Of course, it's also possible that you'll receive nothing or will want to liquidate your inheritance in favor of cash. Having estate planning conversations with...
What you need to know about estate planning for blended families
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Jan 9, 2023 | Estate Planning And Probate
If you are in a blended family in Texas, then you know that things can get a little complicated when it comes to estate planning. Sometimes, for instance, it might be unclear who should inherit which assets, or how to ensure that each family member is taken care of...