April 2025 Newsletter
Legal Lines News
Estate Planning and Elder Law
April 2025
How Do You Want to Leave Your Money Behind?
Although Americans are living longer and spending more time—and money—in retirement, many parents intend to leave an inheritance to their children. The exact amount can vary greatly depending on individual circumstances and wealth levels, but even a small inheritance can be meaningful and help set a child up for long-term financial success, provided they are ready to handle it, which may not be the case. Read more to learn about the pros and cons of an outright inheritance along with other alternatives.
Beneficiary and Transfer-on-Death Designations: Are You Doing It Right?
Do you know which of your accounts have beneficiary designations, sometimes called transfer-on-death (TOD) or payable-on-death (POD) designations? Have you updated them recently? Are you aware of what can go wrong if there are issues with your beneficiary designation forms? If you answered “no” to any of these questions, read more to learn about the steps to confirm that everything is accurate, complete, and current.
Choosing the Ideal Trust for Your Wishes
Misconceptions about trusts often stem from a lack of understanding about what a trust actually is, how it works, and situations where it can provide benefits above and beyond a will. Wills and trusts are complementary—not mutually exclusive. Read more to learn about how trusts can serve different roles in an estate plan and often address different concerns.
A Note From Susana
Rodeo Wisdom for Your Financial Journey
A few weeks ago, I had the chance to experience the rodeo of all rodeos in Houston, Texas. As I watched the cowboys and cowgirls cling to their horses and bulls, it struck me that the stock market can feel a lot like that rodeo. The conventional advice has always been to “stay the course,” which, in rodeo terms, means staying on the horse/bull as long as possible. But my advice is slightly different: stay in touch with your financial advisor. In the face of market ups and downs, constant communication can help keep you steady.
The rodeo also had a powerful opening ceremony—a Pledge of Allegiance, the National Anthem, and a prayer.
Maybe we need a bit of all of that too, to ground us during uncertain times. What also caught my attention was the crowd: thousands of people, all dressed to the nines in their rodeo gear, including sparkling sequined boots. But what was even more remarkable was the diversity in the audience—people from all walks of life, all colors of the rainbow, gathered together, sharing in the excitement. It was a reminder that, no matter the differences, when we come together, we can enjoy life and each other in harmony.
Stay in touch, stay grounded, and stay strong, Susana
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