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It’s Not Too Late For A “Postnup” Agreement

Your wedding day has come and gone, and you never got around to drawing up that prenup agreement. 

There is good news. If you and your spouse can agree on the parameters, it’s not too late to outline how your property will be classified, as community or separate, how your joint finances will be handled, and support for children from prior marriages —even if you’re already married. You can still accomplish this through a postnup agreement. 

The sooner you create a postnup after the marriage, the easier it is. However, a postnup agreement can be done at any time, regardless of how long you have been married. 

A postnup agreement even can be a tool in an estate plan to clearly delineate each spouse’s separate property if the plan for distribution of that separate property is different from the rest of the estate plan. 

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Part One: The Cost Of Probate As A Muniment Of Title

In this series of blogs, I am outlining various different types of probates or probate alternatives to settle an estate and their likely costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed. This type of probate is the least expensive formal, court-administered proceeding. 

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Why You Should Start Estate Planning In Your 20's

Estate planning isn't just for rich or older individuals. Even young, asset-poor 20-somethings should start thinking about how their property will be distributed in the event of a tragedy. Drawing up an estate plan is not as much an action you need to take for yourself, but one you should take for your loved ones. 

Just like an older individual, a young, single person has as much need for a will to designate who would receive anything in the event of his or her death. Whether you have a little or a lot, without a will, the State of Texas will assume your parents should receive your estate. This may not be your preference. Therefore, creating an estate plan will help ensure your wishes are met.

In addition, in the event of your passing, a loved one would also have to spend a great deal of money to go through an estate administration process. If you draw up a will, you could prevent your parents from enduring this stressful, expensive situation.

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Why You Need A Living Will And Medical Power Of Attorney?

If you have ever gone through a hospital admissions process, you’ve likely been asked if you have a living will (also known as a directive to physicians) and a medical power of attorney.

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Worried About A Loved One's Ability To Take Care Of Their Own Affairs?

Hopefully, you recognize the issue before it’s too late to pre-plan. The time to seriously review all of a loved one's financial and estate planning affairs is in the early stages of Dementia or Alzheimer's. Progression of the degree of incapacity varies from person to person. Obviously, a visit to a physician for a diagnosis and treatment plan should be your first priority. Then a visit to an attorney should be next.

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What Is Estate Planning And Why Do I Need It?


This may sound surprising but almost everyone needs estate planning done in their lifetime.

Whether you are a young couple with children, an older individual nearing retirement or a same-sex couple, having an estate plan in place can protect your assets and legacy.

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