Insecure password storage can lead to fraud, theft

Dear Mr. Premack: I have been storing my internet passwords in my Outlook program as notes. This makes it easy for me to look up a password. Is this fine for my legal planning, in case I become ill and my family needs to access my online banking and brokerage accounts? – JO NO! Outlook notes […]

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Can attorney be heir in a will the attorney writes?

This column first appeared on the San Antonio Express-News.com and the MYSA.com websites. Dear Mr. Premack: I was a caretaker for a lady. She told her attorney that I was to be taken care of when she died. She had him draw up a Will with him as the executor, and he told me that he and I […]

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Medicaid Income and Asset Limits in Texas ( 2014 -2015)

MEDICAID in TEXAS 2014 Amounts 2015 Amounts Income Cap (one Medicaid patient) $2,163 / month $2,199 / month Income Cap (both spouses are Medicaid patients) $4,326 / month $4,398 / month Countable Asset Cap (one Medicaid patient) $2000 $2000 Countable Asset Cap (both spouses are Medicaid patients) $3000 $3000 Protected Resource Amount (minimum) $23,448 Not […]

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The Danger of Non-Testamentary Designations

Dear Mr. Premack: I have been living with my significant other for around 30 years, and we have always agreed that we like this arrangement and have no desire to marry. We do take care of each other, and have even both made trusts for our separate assets. His trust says his assets will benefit […]

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Actions to Take when Moving to Texas

Dear Mr. Premack: We are going to be moving my father to Texas. My mother passed away. My father owns a home in another state. None of us want him to sell his home, but he will become a Texas resident and will not be using or living in the former house. What type of […]

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Plans which Avoid Loss of all Assets to a Second Spouse

Dear Mr. Premack: My husband and I have been married 39 years. We have 3 children. Now we have grandchildren. We have seen people around us getting divorced and remarried, or one spouse dying and the other remarrying. People who are our parents’ age are remarrying after the death of a spouse. Sometimes the 2nd […]

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Before You Live Together, Iron Out the Legal Wrinkles

Dear Mr. Premack: My wife died and a while after her death, her best friend and I started living together. We do not want to get married. We are living in her house and renting out my house. What do we do now to protect ourselves and our children, grandchildren and great grandchildren? MG and […]

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Step-up in Basis on Separate versus Community Land

Dear Mr. Premack: I read with interest your column regarding a widow’s step-up in basis. My husband recently passed away leaving me as his only heir. We own a farm. Part of it was inherited and part was purchased by the two of us. How would the step-up in basis apply under these circumstances? The […]

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What Must be Done to Change a Will?

I enjoy giving speeches to community groups and residential centers. Last week I was speaking at The Towers, and was asked “I had my Will written by an attorney several years ago. I want to change part of the Will and wonder if I can just cross out the part I don’t like and handwrite […]

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How to Succeed in Business by Controlling Succession

Dear Mr. Premack: Ten years ago, a good friend and I decided to go into business together. She knew a lot about real estate, and we both had good jobs with money to invest. We set up an LLC, and have used it to purchase a number of rental properties. The cash flow has been […]

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