Austin Estate Planning Attorney
Probate and Estate Planning Help For Texans
The Austin Estate Planning Group is a Texas firm that prides itself on providing providing comprehensive estate planning and administration advice while still maintaining a personal touch and sensitivity to the matters with which we are entrusted. Our experience and legal knowledge allows us to advise clients in a competent manner, but it is our passion for helping individuals and families cope with the inevitabilities of life that sets us apart from other professionals in our field.
Everyone agrees that earning money and using it to enjoy the great joys that life can provide are activities that should be pursued with vigor. What is less discussed, but equally important, is planning for the eventualities of life, both in terms of your physical and financial well being.
Whether you decide to create a simple will or your asset portfolio calls for something more complex, creating a plan for your belongings is essential. Proper estate planning can not only save you and your family taxes down the road, but can also ensure that loved ones are taken care of when they need it most and property is distributed in the manner you desire when that time comes. See our section on estate planning for more information about the services we offer.
Few events are more emotionally charged or fraught with financial challenges than the passing of a friend or loved one. Unfortunately, the laws of our State do not always ease this burden. Depending on what type of plan was created prior to passing and the type of assets involved, the obligations associated with properly celebrating the life of the deceased and distributing his or her assets can be overwhelming.
In times like these, it is good to know that there is knowledgeable and affordable legal help out there. Our attorneys are efficient but mindful of the emotional trauma often suffered by those who lose a loved one. The Texas probate process may be a necessary step in bringing closure to a painful matter, but it does not have to be a costly or stressful one.
If a person qualifies, Medicaid will take care of long-term care in a nursing home and approved prescription medications. It is not uncommon for people to enter a private care facility for a number of years only to later turn to the Medicaid program for help down the road. In the meantime, precious financial resources are being drained which could have been preserved through proper Medicaid planning. Prepare now for this possibility and preserve your assets for yourself and your family.
Some times, a person will draft a properly funded and comprehensive trust to handle their assets. While this approach is ideal and avoids the probate process, a successor trustee still must take steps to administer the trust. Trustees must contact beneficiaries and keep them informed. Further, the recently passed individual’s assets have to be gathered and invested, outstanding debts paid in accordance with the trust, potential creditors notified, taxes filed and principal or income distributed to beneficiaries in accordance with the trust.
Unfortunately, successor trustees often lack the expertise, time, or funds to personally administer the trust. In these situations, it is often wise to seek the help of legal, accounting and investment professionals for assistance. Our experienced estate planning attorneys can help these individuals deal with the complexities of trust administration.