by Keith Hajovsky | Feb 7, 2024 | Asset Protection, General Estate Planning, Marital Assets, Probate, Wills
What is considered a homestead in Texas can have a very big effect on your estate planning needs as well as many other aspects of your life. The Texas Constitution lets a person establish a homestead which is basically a certain piece of real estate that is exempted...
by Keith Hajovsky | Dec 28, 2023 | Asset Protection, General Estate Planning, Power of Attorney, Wills
The major differences between a power of attorney and a will are often not understood by my clients when they first contact me. Both are very important documents when it comes to estate planning. In many ways they are the most important documents of someone’s estate...
by Keith Hajovsky | Dec 6, 2023 | Asset Protection, General Estate Planning, Testamentary Trusts, Trusts
Although you cannot create a trust for yourself with the goal of asset protection, you can create a trust for someone else with asset protection in mind. And these protections can come in two forms. The assets can be protected from potential poor money management...
by Keith Hajovsky | Nov 1, 2023 | Asset Protection, Testamentary Trusts, Trusts, Wills
Someone recently asked me: What is a testamentary trust? A testamentary trust is a trust that is spelled out in your will. However, it does not actually become a legal, functioning trust until after you pass away and your will is probated. At that time the trust...
by Keith Hajovsky | Oct 11, 2023 | Asset Protection, Estate Administration, General Estate Planning, Intestate - Dying Without A Will, Probate, Wills
In Texas, whether or not estate taxes will need to be paid when you die greatly depends on the size of your estate. Luckily for the vast majority of us, there is no need to worry. First of all, there is not an estate tax, sometimes called a “death tax”, at the state...
by Keith Hajovsky | Oct 4, 2023 | Asset Protection, General Estate Planning, Living Trusts, Trusts
Many people wonder if they can create a living trust for themselves in order to protect their assets. In Texas you cannot do this as long as you have direct control over the assets. If you created an irrevocable living trust, then you could have asset protection due...
