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In Texas, probate court is generally not necessary if the estate is worth less than $75,000 but failing to have a trust and having an estate with value more than $75,000 in assets creates
complications for your loved ones. The cost to probate varies depending on the value of the
assets. Since probate records are online and public, it exposes your personal information to
fraudulent financial transactions even after death. A trust keeps your private information private. 

Fraudulent transactions show up as debts owed to creditors. Having a properly funded trust keeps your information private and avoids probate court.

An annuity is a financial product that can provide a  stream of income for life.  You can purchase an annuity with a lump sum or with periodic payments, and if activated, the insurance company will provide you with regular payments during retirement. An annuity can be a useful tool for retirement planning because it can provide a steady source of income for the rest of your life.

Term life insurance provides coverage for a specific period of time, such as 10 or 20 years, while permanent life insurance provides coverage for your entire life. Term life insurance tends to be less expensive than permanent life insurance, but it does not build cash value and expires at the end of the term. Permanent life insurance, on the other hand, can be more expensive but builds cash value and can provide lifelong protection.

Life insurance is a powerful tool for saving for a child's college fund. With a properly structured policy, the cash value grows and can be accessed tax-free to pay for college expenses like tuition, room and board, textbooks and other expenses.  529 plans may offer benefits for college savings but there are some limitations and tax consequences to consider. Cash value within a life insurance policy offers more flexibility with tax advantages.