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Revocable Living Trusts and Wills
Revocable Living Trusts are a flexible and effective way to avoid probate and simplify the estate process. Learn how RLTs compare to wills and why reviewing your estate plan before…
Dynasty Trusts
Dynasty Trusts are designed to preserve wealth for multiple generations while minimizing estate and generation-skipping taxes. This article breaks down how they work, how GST exemptions apply, and why careful…
Directed Trust Advisors and Protectors
Decanting and Section 114.0031 In 2013, Texas enacted decanting statutes by adding Section 112.071 to the Texas Trust Code. That means the provisions set forth in the Trust Agreement of…
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Revocable Living Trusts and Wills
By Ridge Dickey • April 9, 2025Revocable Living Trusts are a flexible and effective way to avoid probate and simplify the estate process. Learn how RLTs compare to wills and why reviewing your estate plan before 2026 may save time, money, and stress. -
Dynasty Trusts
By Ridge Dickey • April 9, 2025Dynasty Trusts are designed to preserve wealth for multiple generations while minimizing estate and generation-skipping taxes. This article breaks down how they work, how GST exemptions apply, and why careful legal drafting is essential to avoid costly tax consequences. -
Directed Trust Advisors and Protectors
By Ridge Dickey • April 5, 2025Decanting and Section 114.0031 In 2013, Texas enacted decanting statutes by adding Section 112.071 to the Texas Trust Code. That means the provisions set forth in the Trust Agreement of an existing irrevocable trust (the first trust) can be different from the provisions in the second irrevocable Trust Agreement. Prior to this change in Texas… -
ILIT vs. Money Accumulation
By Ridge Dickey • April 5, 2025Linda and Robert are married and both are 45 years old. They have two kids—one is 9 years old and the other is 11. Together, they make around $300,000 a year at their jobs. Not including their home, Linda and Robert have a net worth of about $800,000, most of which consists of liquid assets…. -
Example Buy-Sell Agreements (Texas)
By Ridge Dickey • April 5, 2025DISCLAIMER: These documents are for educational purposes only.Do not attempt to use or modify these forms without the guidance of a licensed Texas attorney. These agreements are not a substitute for legal advice or proper legal drafting. Example 1: Texas Buy-Sell Redemption Agreement THIS BUY-SELL AGREEMENT (“Agreement”) is made and entered into as of [Effective… -
Buy-Sell Agreements in Action: Why ADR Matters
By Ridge Dickey • April 5, 2025In essence, alternate dispute resolution (ADR) provides valuable alternatives to traditional litigation, offering parties the opportunity to resolve their disputes in a more efficient and amicable manner. Generally, ADR can be less expensive than attorney fees. ADR includes mediation and arbitration. A Real-World Example For example, assume that a Texas resident named Bill, who is… -
Example Prenuptial Agreement – Texas
By Ridge Dickey • April 5, 2025CAUTION: This document is provided for educational purposes only. Do not attempt to use this form as a legally binding document. Every situation is unique, and laws change frequently. Please consult with a qualified Texas attorney before using or relying on any form of prenuptial agreement. Premarital Agreement (Texas Family Code §4.001 et seq.) This… -
Perpetuity Provisions
By Ridge Dickey • April 5, 2025Texas Competing with Other Trust-Friendly States Texas Trust Code changes over the last 20 years seem to be attempts to compete with Delaware, South Dakota, Alaska, and other states as it pertains to irrevocable trusts. The Texas legislature in 2021 added a procedure to modify the provisions of irrevocable trusts. Changes to the Rule Against… -
Connelly v. United States: Supreme Court Ruling Overview
By Ridge Dickey • March 30, 2025The Supreme Court’s 2024 ruling in Connelly v. United States clarifies how life insurance proceeds affect the valuation of a closely held business for estate tax purposes. This case has major implications for buy-sell agreements, estate planning, and tax liability. Learn how this decision could impact your business succession plan. -
Prenuptial Agreements as an Asset Protection Strategy
By Ridge Dickey • March 30, 2025Prenuptial agreements aren’t just about protecting wealth—they can simplify divorce proceedings and reduce conflict. This post explores how Texas community property laws work, using a real-world scenario involving investment accounts, inheritance, and forensic accounting to trace ownership and protect separate assets.
