Law Office of Harvey L. Cox provides asset protection services from our offices in Waco and Round Rock, Texas.
Law Office of Harvey L. Cox provides asset protection services.
In this article, you will discover: The purpose of trusts When you must have a trust A trust is a written document that specifies who you want to handle your estate at your death and who gets your assets at your death. It sounds like a will, but it functions very differently. 1. A trust provides for you To understand…
In this article, you will discover: Ways to avoid costly expenses for probate in Texas Probate requires an attorney to file your will for probate. In turn, there will be attorney fees, court costs, and, depending on the assets in the estate, costs for appraisals, etc. The bottom line is that probate can consume a good portion of an individual’s…
In this article, you will discover: When long-term care planning should begin What Medicaid benefits pay for How long Medicaid approval takes Reasons for Medicaid benefits denial It is best to begin planning for long-term care as soon as possible. I have recently read that approximately 70% of people currently turning 65 will require long-term care in their lifetime, and…
In this article, you will discover: What could happen if you do not properly plan for long-term care The most effective long-term care cost planning measures According to recent survey information, approximately 93% of people do not have Long-Term Care insurance, and they have not made other arrangements for long-term care. What Can Happen If You Have Not Properly Planned…
In this article, you will discover: Necessary healthcare-related planning documents Important components of an estate plan How often an estate plan should be reviewed If you need an estate planning attorney You absolutely can keep control over your assets if you put them into a trust. The trust that I recommend is fully revocable and amendable. Any assets you place…
I regularly meet with clients who want to take preventative measures to ensure their families are not burdened if they become incapacitated or die. The most common question I hear is, “What do I need to do to make it easy for my loved ones?” I do have a few recommendations. 1. Prepare an Estate Plan If you die without…
During my initial consultation with clients, I always discuss the various documents that should be part of a comprehensive estate plan. As I explain the purpose of each document, I find that the Directive to Physicians, also known as a Living Will, generates the most discussion. It’s also the document clients have the most difficulty signing. This document creates such…
There is a common misconception “out there” that estate planning is just for the rich. Let me clear that up. Estate planning is NOT just for the rich. It’s for everyone. That’s right, everyone. It doesn’t matter what you do for a living, whether you have a dozen kids or no kids, whether you think you have an estate to…
Estate planning documents are prepared based on a snapshot of your life at the time you prepare them. The documents accomplished your goals and objectives then. But, life changes. While your estate plan may have achieved your objectives then, your goals now may be different. So, the documents you have may not accomplish your goals at this point in your…
If you die without an Estate Plan, Texas law has a formula that determines the distribution of your assets. That formula does not consider your wishes or unique circumstances. The following summary explains how Texas law distributes your assets if you die without a plan. Rules for a Single Person with No Children If you are single and have no…