by Hailey-Petty Law Firm | Dec 8, 2023 | Uncategorized, Wills & Trusts
Estate planning is a crucial aspect of financial planning, often centered around two key instruments: wills and trusts. While wills are commonly known and widely used, trusts are frequently misunderstood and mistakenly thought to be only for the wealthy. However, the...
by Hailey-Petty Law Firm | Dec 7, 2023 | Wills & Trusts
When it comes to estate planning, lifetime trusts are often viewed primarily as tools for asset protection. However, their benefits extend far beyond safeguarding wealth. A lifetime asset protection trust, which is established and takes effect during the...
by Hailey-Petty Law Firm | Dec 6, 2023 | Medicaid Lawyer
Navigating the complexities of Medicaid, particularly when it comes to long-term healthcare needs, can be daunting for many Texans. One aspect of Medicaid that often catches people off guard is the possibility of Medicaid estate recovery. This process involves the...
by Hailey-Petty Law Firm | Dec 5, 2023 | Probate
In the realm of estate planning, a critical aspect often overlooked is the cost of probating a will, especially in a state like Texas where the legalities can be quite intricate. Probate, the legal process through which a deceased person’s will is processed and...
by Hailey-Petty Law Firm | Dec 4, 2023 | Uncategorized, Wills & Trusts
When it comes to estate planning, understanding the interaction between a will and a trust is crucial. Many people wonder if a will has the power to override a trust. This question is fundamental as both a will and a trust play pivotal roles in how assets are managed...
by Hailey-Petty Law Firm | Dec 3, 2023 | Medicaid Lawyer
The rising cost of nursing home care has become a significant concern for many, particularly as it pertains to the protection of personal assets. One of the most valuable assets, and often the center of concern, is the family home. Many wonder if placing their house...
by Hailey-Petty Law Firm | Dec 2, 2023 | Wills & Trusts
The division of assets during a divorce can be one of the most contentious and complicated aspects of the process. In Texas, where the laws governing asset division are unique and complex, protecting your assets becomes a matter of strategic planning and understanding...
by Hailey-Petty Law Firm | Nov 29, 2023 | Medicaid Lawyer
As the population ages, planning for long-term nursing home care becomes an increasingly important consideration for many families. In Texas, the cost of such care can be substantial, making early financial planning essential. The MAPT One effective tool for this...
by Hailey-Petty Law Firm | Nov 29, 2023 | Wills & Trusts
Using a trust can be an effective way to protect against a will contest in Texas. Trusts offer several advantages over wills in terms of privacy, flexibility, and most importantly, a Texas Trust can potentially reduce the likelihood of legal challenges. Here’s how a...
by Hailey-Petty Law Firm | Nov 14, 2023 | Estate Planning
When it comes to securing your child’s financial future, setting up a trust can be one of the most prudent decisions you make. In the state of Texas, trusts offer a flexible and effective way to manage and protect assets for the benefit of your children. This...
