Skilled Guidance For Estate Planning, Wills, And Trusts

"In this world, nothing can be said to be certain — except death and taxes." Benjamin Franklin

You work your entire life to buy a build a career or a save for leave an inheritance for your family and gather treasured memorabilia and keepsakes. Who will receive all of it when you are gone? Who will manage it if you become incapacitated? Who will make medical decisions for you if you are unable to? Who will raise your children if you pass away before they reach adulthood?

You have the power to decide these and similar matters. But if you don't decide, the legal system will decide for you. A well-planned estate will allow your loved ones to mourn your loss without unnecessary legal and financial confusion, while minimizing legal costs, taxes, and arguments among your heirs.

For some clients, the creation of a trust may be advisable. Trusts come in many forms to obtain the desired goal. Examples of such goals include: ensuring that assets are used for their intended purposes; avoiding probate; managing assets in other states; and providing for a disabled individual's welfare without jeopardizing their eligibility for public benefits and assistance.

The Temple law firm of Harrell, Stoebner & Russell, P.C., provides trusted advice and guidance to clients throughout Central Texas for all estate planning matters. We will work closely with you to find solutions that suit your unique needs and goals. Our firm is dedicated to being there for the entire life of your plan, from initial drafting to any necessary revisions to the probate of your estate by your chosen executor and other heirs.

Comprehensive Services For Building Your Complete Estate Plan

Our estate planning attorneys have the tools and resources to aid you in the creation of a solid plan. Elements to consider may include the following:

  • Last will and testament
  • Trusts, including revocable and irrevocable options
  • Business succession planning
  • Tax planning
  • Real estate
  • Insurance matters
  • Charitable giving
  • Financial and medical powers of attorney

Medicaid and VA Benefits Counseling

As life expectancies increase, so do the chances that you or someone in your family will require nursing care. The costs of such care can be enormous — $5,000 per month or more is common for a private-pay nursing home. Often an individual will pay for private care until their savings run out, at which time they can qualify for Medicaid, which will pay for their care. But even if they qualify for Medicaid, the government has the right to seek re-payment from their estate after their death.

Many individuals ask what they can do to protect their assets and still obtain the care they need. As always, the answer will depend on each person's unique circumstances, but there are a number of strategies and legal tools available. One is to invest in a long-term care insurance policy; another is to give away some of your wealth while still living; yet another is to convert some of your assets so that they are not counted for purposes of determining eligibility. If you are a veteran, you may qualify for certain benefits through the Veterans Administration, such as Aid and Attendance.

Dedicated To Achieving Your Estate Planning Goals

Our goals are to help you gain maximum benefit from estate planning laws, while also ensuring your wishes will be carried out for your estate. For more information or to discuss your estate plan, call our firm at 254-935-3036. Or, if you prefer, you may fill out and submit the online contact form and we will get back to you promptly.