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Texas estate planning, probate, trust, and business tax articles written by our attorneys.
Do Texas Gun Owners Still Need a Gun Trust After the Recent NFA Ruling?
Congress enacted the National Firearms Act (“NFA”) in 1934, during the era of Prohibition and organized crime. The law targeted weapons associated at the time with gangsters and violent...
Asset Protection in Texas: What It Really Is, and Why It Only Works Before Trouble Starts
As an estate planning attorney in Austin, I hear a version of the same sentence almost every week from successful Texas families. “I want to make sure nobody can...
Slayer Statutes: How Texas and California Treat Your Killer and his or her Inheritance
Nick Reiner, faces two counts of first-degree murder with special circumstances for the December 2025 murder of his parents, Rob Reiner and Michele Singer Reiner. He has pleaded not...
Explaining Your Estate Plan from the Afterlife, the Family Legacy Meeting
Let’s be honest. Most families will spend hours debating where to eat Thanksgiving dinner, but somehow never find twenty minutes to talk about what happens to the family home...
Your Will Is Not the Final Word
Seven estate planning traps that ambush careful families, and the seven questions that catch them first.
The “Baby IRA” Is Here: the New Section 530A also known as the “Trump Accounts”
The delivery room door has long been the threshold where parental joy meets economic anxiety. In 2025 the One Big Beautiful Bill Act (OBBBA) tried something unusual: by enacting...
The Hidden Tax Superpower of an LLC: Understanding the Step-Up in Basis inside an LLC
When most people think about a LLC, they think about liability protection, asset segregation, or business flexibility. But there is another major benefit that often gets overlooked, the potential...
The Cheapest Thing You’ll Ever Buy: An Estate Plan
Let’s be honest, no one wakes up on a Saturday morning thinking, “You know what sounds fun? Drafting a will.” That ranks somewhere between organizing your tax receipts and...
What Happens to Airline Miles and Hotel Points When You Die?
Frequent-flyer miles and hotel reward points can represent thousands sometimes tens of thousands of dollars in value , yet they are often overlooked in estate planning. Unlike bank accounts...
New FinCEN Rule: Reporting Certain Real Estate Transfers Starts March 1, 2026
Big changes are coming to residential real estate transactions. Beginning March 1, 2026 , the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) will require a Real...
What Does an Estate Planner Really Do?
In reality, comprehensive planning sits at the intersection of business law, real estate law, tax law, and probate strategy . An estate planner integrates all of these disciplines to...
The Personal Property Memorandum: Because Nobody Should Fight Over Your Belt Buckle
Estate planning is serious business. But that doesn’t mean everything in your estate plan has to feel like a funeral dirge. Enter the Personal Property Memorandum , the unsung...
Slayer Statutes: How Texas and California Treat Your Killer’s Inheritance
I recently read that Nick Reiner’s “Hollywood” attorney resigned and has been replaced with a public defender. The assumption is that the other 2 children of the Reiner estate...
Protecting Children Through Thoughtful Estate Planning: A Christmas Season Reflection
The Christmas season has a way of sharpening our focus on the people who matter most. As a parent of four children, I feel this especially during the holidays....
What the Vanderbilts and Rockefellers Teach Us About Generational Wealth Strategy
When people talk about old money , two family names almost always surface: the Vanderbilts and the Rockefellers. Both dominated the Gilded Age. Both shaped American industry. Both controlled...
You are in Good Hands, or Are you? Why You Should Name Your Trust or LLC as an Additional Insured
We recently had a client tell us that her neighbors who own a home in the Pacific Palisades were told by their insurance company that because their homeowner’s insurance...
FinCen: New Reporting requirements are coming for certain transfers of Residential Real Estate
FinCen is a bureau within the U.S. Department of the Treasury, tasked with safeguarding the U.S financial system, and countering money laundering, along with the financing of terrorism. FinCen...
What I learned about transitioning an aging parent from home to a facility
I recently moved my mother from her home in the city where she lived for over 65 years, to an assisted living facility nearby. My brother and I were...
Refresh: Why It’s Time to Refresh Your Estate Plan, and Your Memory
When was the last time you looked at your estate plan? If your answer is “not since I signed it,” you’re not alone. Many people treat estate planning as...
Why Parents Should Help Their Young Adult Children Create Powers of Attorney and a Will Planning Ahead is Smart, Loving, and Practical
Your child just turned 18. Maybe they’re headed off to college next month, starting a new job, or taking a gap year to travel. It’s a time full of...
Estate Planning After the One Big Beautiful Tax Bill: What Clients Need to Know
The passage of the “One Big Beautiful Tax Bill” (the OBBTB ) this last week marks a seismic shift in the estate, gift, and generation-skipping transfer (GST) tax changes....
Entity Comparison Chart
Use this chart to quickly compare entity characteristics before you decide on an entity to protect your assets
Comparison of Revocable Trust vs. Will
Revocable Trust Will What is it? A legal document that places assets into a trust during the Trustmaker’s lifetime, managed by a Trustee, with terms that can be modified...
How Business Owners Can Protect Their Legacy with Succession Planning
For business owners, a well-structured succession plan is essential for ensuring the long-term success of their company. Without a clear plan in place, a business may face operational disruptions...
Avoiding Probate in Texas: What You Need to Know
Probate is the legal process of settling a deceased person’s estate, but many families prefer to avoid it due to the time, cost, and public nature of the proceedings....
The advantages and disadvantages of lifetime gifts in estate planning
Advantages Disadvantages Freezes the Value of an Asset; Reduces Estate Taxes, Gifting an asset that is rapidly appreciating (e.g. shares, crypto currency, real estate) “freezes” the value in your...
Why a Stock Market Crash May Be the Perfect Time to Gift to Your Family
When the stock market takes a nosedive, the headlines are filled with anxiety-inducing words like “plunge,” “collapse,” “sell” and “turmoil.” But amid the panic, there may be a golden...
New to Texas?
You have finished unpacking. The kids are in school. You have located the grocery store, the vet and the post office. What is next? On the list needs to...
The Importance of naming guardians for your young children
If you are a parent of young children, it is important for you to designate a guardian for them in the unlikely event something happens to you when they...
Key Estate Planning Lessons to be Learned by Gene Hackman’s Death
The recent passing of actor Gene Hackman and his wife, Betsy Arakawa, has highlighted several crucial aspects of estate planning. The couple, who led a private life in Santa...
When Your Child Won’t Let You See Your Grandchild
It has always been my belief that it “takes a village” to raise children and grandchildren. That means, to me, that different perspectives, different skills or interests, lifestyles or...
4 REASONS TO HIRE AN ATTORNEY TO CREATE YOUR ESTATE PLAN
Contrary to popular belief, a one-size-fits-all approach to estate planning rarely suffices. An estate planning attorney understands that every person’s needs are different and can tailor a comprehensive plan...
How Does a Member Leave an LLC?
The owners of a limited liability company (LLC) are called members. At some point, an LLC member may find that they want or need to withdraw from the LLC....
Could the federal estate tax be on the way out?
On February 13, 2025, Representative Randy Feenstra introduced the Death Tax Repeal Act. More than 170 representatives have reportedly agreed to support the bill, Speaker Johnson is on record...
Texas’ New Homestead Verification Requirement
Most homeowners in Texas are familiar with the homestead exemption afforded by Texas law. This exemption provides a property tax break for an owner’s primary residence. Historically, this homestead...
Protecting Your Rights as a Shareholder
When purchasing shares in a company, you should understand the potential risks and perks. What are the rights, privileges, and responsibilities of a shareholder? And how do you protect...
Are baby boomers really the stingiest group when it comes to inheritances?
A recent article by Suzanne Wooley, published by Charles Schwab, suggests that according to survey data, the boomers are stingier when it comes to passing wealthy on to loved...
The Process for Establishing a Guardianship in a Nutshell
A guardianship is a court-ordered and court-supervised process. To file an application for guardianship, you must hire an attorney to represent the applicant (you), and the court will appoint...
SPECIAL ALERT REGARDING BENEFICIAL OWNERSHIP INFORMATION REPORTING REQUIREMENTS
There has been a significant development regarding the Beneficial Ownership Information (BOI) reporting requirements mandated under the Corporate Transparency Act (CTA).
TRUST PROTECTORS ADDING FLEXIBILITY TO AN IRREVOCABLE TRUST
One of the most popular tools for planning and protecting your family’s wealth is an irrevocable trust. Irrevocable trusts come in many forms and serve many purposes. An irrevocable...
2nd SPECIAL ALERT FOR ALL BUSINESS OWNERS
You may have seen our previous special alerts and seen the news reports regarding the new reporting requirements under the Corporate Transparency Act (“CTA”) that affects limited liability companies...
SPECIAL ALERT FOR ALL BUSINESS OWNERS
You may have seen our special alerts and or seen the news reports regarding the new reporting requirements under the Corporate Transparency Act (“CTA”) that affects limited liability companies...
Why Your LLC Needs a Company Agreement
Congratulations. You have decided to form a limited liability company (LLC) to run your business. After completing your state formation process, your LLC needs to have the right documentation...
I Want to Make a Distribution from my LLC, Now What?
This is often the first question I get after a client forms a LLC. A distribution from a limited liability company (LLC) is a payment of cash or property...
How Does LLC Ownership Work?
The limited liability company (LLC) is a popular business structure for new businesses, but what does it reallymean to own an LLC? LLCs provide opportunities to customize business ownership...
It’s graduation season. Make sure you are preparing your college-aged kids.
It’s graduation season. And a vital time to make sure you are preparing your college-aged kids, and yourself, for going to college.
What is a Guardianship and When Do I Need One?
We often hear about guardianships or conservatorships in the news (for example, Brittany Spears and Jay Leno’s wife). So what is a guardianship and how do I know if...
The Federal Trade Commission Bans Covenants Not to Compete
The Federal Trade Commission (FTC) has issued a final rule banning noncompete agreements nationwide. These agreements, affecting approximately 30 million workers, have been criticized for suppressing wages and innovation....
Preparing Your Business for an Emergency
The year 2020 is a continuing lesson in preparing for the unpredictable. From the pandemic to natural disasters, businesses have faced numerous challenges that could force them to close....
Financial Crimes Enforcement Network’s New Beneficial Ownership Information Reporting Requirement for Businesses
Avoid the Penalties. Financial Crimes Enforcement Network’s New Beneficial Ownership Information Reporting Requirement for Businesses The Federal Criminal Enforcement Network (FinCEN) has introduced a Beneficial Ownership Information Report (“BOIR”)...
Safekeeping Your Estate Planning Documents
Clients often ask: What do I do with my estate planning documents now that I’ve signed them?
Asset Protection for Entrepreneurs
Going into business for yourself is a risky endeavor. From investing in goods and services and hiring employees to simply carrying out the daily tasks related to your business...
Using Powers of Appointment to create Flexibility in your Estate Plan
If you are a regular reader of our blog postings, you know that we feel strongly that significant inheritances should be passed on to spouses or other heirs in...
Super Power of Attorney: The Power Of A Revocable Trust
Our estate planning always includes planning for a client’s potential disability and particularly mental incapacity and the inability to manage their financial affairs. Statistics say people over 65 are...
Avoid the Penalties. Financial Crimes Enforcement Network’s, New Beneficial Ownership Information Reporting Requirement for Businesses
The Federal Criminal Enforcement Network (FinCEN) has recently introduced a Beneficial Ownership Information Reporting Requirement that affects all U.S. businesses. This mandate was designed to enhance transparency and combat...
The Business of Marriage: Considerations for Married Business Owners
Owning a business is a lifestyle that can impact every area of a person’s life. The impact is uniquely felt within a marriage. Married business owners have unique challenges...
Who should know what about your estate plan?
If you have completed an estate plan, have you given much thought to how your intended beneficiaries will discover its location or contents? We are often asked about how...
Practical Guidance for the Executor
If you’ve been appointed as an Independent Executor, you are responsible for administering the estate of a person who died, which generally includes: (1) gathering the estate’s assets, (2)...
October is National Estate Planning Awareness Month
If you missed August’s National Make a Will Month, don’t worry. The creators of our national holidays clearly understand the importance of having an estate plan and are giving...
When Life Changes
How do you make sure that your estate plan will keep up with your ever-changing life?
The Power of a SLAT Spousal Lifetime (or Limited) Access Trust
If you have discussed estate tax-saving tools with your attorney or financial team, chances are you might have come across the Spousal Lifetime Access Trust (SLAT). A SLAT is...
Should my estate plan really be this complex (long)?
One of the comments we often hear from clients is that they just want something simple. And yet when they review the estate plans we create for them, they...
August National Make a Will Month
Of the many obscure “holidays” now nationally recognized, we think August’s national “Make a Will” month is a particularly important one (Yes, seriously, this is a thing.). For many...
Business Succession Planning
From the beginning, you have had a plan for your business to succeed. You set goals and developed solutions to achieve those goals. For small family businesses that have...
What Are the Benefits and Risks of Forming an LLC?
If you have decided to start a business and are researching the available business entity types, you may repeatedly come across the terms “limited liability company” and “LLC,” but...
IRS Revenue Ruling 2023 02, May Affect Your Irrevocable Trust
For years, we have used lifetime gifts to irrevocable trusts for clients with large estates. Assets gifted to an irrevocable trust removes the gifted assets from a client’s taxable...
Legal Considerations for Social Media Influencers
As a business owner, you may consider using social media to enhance your business’s engagement and reach. One way to do this is through social media influencers. Social media...
Social Security: Spousal Benefits and More
Social Security is best known for its retirement benefits, and for good reason. It is the largest retirement program in the United States and most U.S. workers will receive...
What You Need to Know about Your Articles of Organization
We frequently recommend limited liability companies (LLC) to our clients as a flexible entity structure among small business owners that provides governance and taxation guidance for multiple owners or...
I wish I had an LLC.
You’ve just purchased a new vacation property, and you hope to list it throughout the years as a vacation rental. Maybe you haven’t had time to meet with an...
Yours, Mine and Ours: Marital Agreements and Estate Planning
According to data from the U.S. Census Bureau, 42 million Americans have been married more than once. Historically, nearly 75% of people who divorce remarry. Of those remarriages, approximately...
Pass-Through Taxation: What You Need to Know
According to the Internal Revenue Service (IRS), a pass-through entity is a business that passes its income, loss, deductions, or credits to its owners. It does not typically have...
New Federal Reporting Requirement for All Businesses
The Corporate Transparency Act of 2020, passed on January 1, 2021, was designed to help prevent companies from concealing their ownership of US businesses and to thwart illicit activities...
For Better or Worse Why Marital Agreements are Important
Often in these times of crypto, start-ups and other wealth creation, parents require and their children are willing to ask that anyone joining the family agree to a marital agreement.
What Is a Business Succession Plan?
If you own a small business, developing your succession plan is a critical element of business planning. However, many business owners fail to appreciate the complexities and time involved...
Changes Likely Coming to Estate Taxes?
President Biden recently revealed his 2024 budget bill. Not surprisingly, a lot of changes are being proposed to the taxes we pay, especially for the wealthy. Proposals in the...
Crossroads of Family Law and Estate Planning
For the estate planning practitioner to effectively do his or her job, it is important to understand how family law matters can impact what they are trying to accomplish...
Special Needs Trusts Can Protect a Child or Adult with Disabilities
Parents with disabled or incapacitated children often worry about how their children will manage when they are no longer here to protect and support them. Siblings of such children...
Five Common Myths About Revocable Living Trusts and Why You Shouldn’t Believe Them
Trusts have been around for centuries, with their foundations dating back to Roman Law. Today, the Revocable Living Trust is one of the best and most efficient foundational tools...
Estate Planning IQ Quiz
About what percentage of people ages 18 and up currently don’t have a will? (Hint: It’s higher than you might think.)
How Business Owners Can Avoid Deadlocks in Decision Making
Are you considering starting a business with a friend or family member? If operating as a partnership or LLC, a well-drafted partnership or LLC company agreement is crucial to...
Moved to Texas … Should I update and “Texasize” my will or trust?
Recently released estimates from the U.S. Census Bureau show that Texas is now home to more than 30 million people, making Texas and California the only states to eclipse...
The Four-Year Rule
Statistics show that there have been more deaths in Texas over the past four years than in any previous four years in Texas history. In fact, death counts in...
Transfer on Death Deed: Answers to Commonly Asked Questions
In 2015, the Texas Legislature enacted a statute authorizing Transfer on Death Deeds (“TODD”). Similar to Lady Bird Deeds, which are a creature of common law, TODDs operate to...
Community Property vs. Common Law Property Assets
Texans know this, but for those of you who are new to Texas, now that you are here you may find you will hear the term “community property” when...
Considerations Before Owning a Business with Your Spouse
Both running a successful business and having a successful marriage require commitment and hard work. Operating a business as a married couple can present its share of challenges but...
Will? Trust? Why Not Both?
In my initial conversations with new or prospective clients, I am often asked whether the client needs a will or a trust. As discussed below, these are not mutually...
You Survived the April Tax 2022 Season. Did You Remember to File Franchise Tax Returns for Your LLCs?
Question 1: Does a Texas LLC need to file a Texas Franchise tax return each year, even in years when it has no (zero) gross income?
Importance of Trust Advisor provisions in a Revocable Trust
The most common type of trust used for estate planning is a revocable trust created by the client during his or her lifetime. For the typical couple, they reserve...
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