Practice Areas:
Our estate planning clients usually come to us to eliminate taxes, avoid probate and provide for their family. We routinely help our estate planning clients achieve all of these
goals.
Most people, when they initially sit down with us, only see estate planning as death planning. But planning for your death is only half of the problem. The other, potentially more
critical part, is disability planning. With proper disability planning, if you cannot make your own decisions because of an accident of illness, your bills can be paid, your assets can
be managed, and your health care decisions can be made by the people you love and trust the most.
Unfortunately, whether you are married or single, faulty and inadequate estate planning often results in a judge stepping in; the family then loses a large measure of a very precious
commodity: CONTROL. At The Wiewel Law Firm, we not only focus on the critical disability and death, we will strive to maximize your control during your lifetime and the control
you want your loved ones to have at the time of your death.
In addressing both death and disability concerns, we have a toolbox full of proven legal techniques to help your family reach all of your goals. These include Revocable Living Trusts,
Wills, Financial and Medical Powers of Attorney, Living Wills Designations of Guardians for minor children and Special Needs Trusts for families with special children. Because probate
often comes with a substantial amount of legal, financial and emotional costs, most of our estate planning clients elect to avoid it. We can specifically design your estate plan to
achieve this and the other goals that you have.
Our clients with estates over $4 million will often need to use additional tools to eliminate or reduce taxes. These may include Life Insurance Trusts, Family Limited Partnerships,
Limited Liability Companies, and Charitable Trusts among others.
Whatever legal instruments are implemented, two other very important matters must be attended to:
- Your assets must be coordinated with you estate plan; and,
- Your estate plan must be kept up-to-date with the changes in your family, your finances - and the Law.
Our LifePlanning Legal Services™ program is designed to eliminate all of these concerns and provide what all of our clients
seek — the maximum amount of peace of mind possible.
Asset Protection refers to the area of law that concentrates on protecting and preserving your property from seizure by creditors and predators. Texas law itself provides a
substantial amount of protection for certain assets. In most cases, these include your homestead, a specific amount of personal property, retirement accounts, 529 college savings
accounts, life insurance and annuities. In our
Asset Protection Program™, we counsel our asset protection clients on ways to
maximize the benefit of these "exempt" items.
Other, "non-exempt" assets, can enjoy a large measure of protection by the use of legal structures such as family limited partnerships, limited liability companies and
on-shore as well as off-shore irrevocable trusts (revocable living trusts, which are discussed under the Estate Planning portion of this section, are not asset protection trusts).
Keeping your estate from being decimated by a lawsuit is a top priority for many of our clients. The law strongly discourages asset protection planning AFTER you become aware of a
potential claim against you. It is imperative to begin your planning now, well in advance of any problem that could arise in the future. While no particular technique is
"bullet-proof", with proper planning, a very large degree of protection and peace of mind can be achieved.
|
|
Business Planning can take several different forms. It may be creating a Buy-Sell agreement to provide for a business to continue after the death, disability or divorce
of a co-owner or key employee. It may be creating an Exit Plan for an owner who wants to retire at some point, and enjoy the value of the business he or she has spent a lifetime
building. It could also be forming a Limited Liability Company, Corporation or Partnership to provide a more formal business structure under which to operate. Because the
business is typically our client's most valuable asset, careful consideration should be given to any legal issues that affect it. Very few businesses make the transition of ownership
successfully without planning.
Maintaining any entity is critically important. Our Corporate Custodian™ program is tailor-made for small business owners who do not have the time to hold annual meetings or
maintain the legal requirements of their legal entities. We help our clients with these essential tasks, and provide a number of other services as well.
Very few business owners have been able to tackle these issues successfully. At The Wiewel Law Firm we are committed to your legal and financial success. We would be happy to teach
you about the options available to you and assist you in any way that is appropriate.
Charitable Planning may be the most rewarding undertaking of your life. Everyone is aware of the needs that go unaddressed in our society and the world daily. You may want to
benefit the homeless, support research into medical cures or create a scholarship fund at your alma mater. Regardless of what you want to do, HOW you do it can have a profound
impact on your family and your taxes!
There are many ways to benefit charities. Charitable trusts are often recommended. A charitable remainder trust, for instance, can allow you to avoid the immediate payment of capital
gains taxes on the sale of stock, real estate or other property — and you will receive a current income tax deduction you can use to offset other taxes. Other trusts can eliminate
taxes on even the largest estate at the time of your death and allow your loved ones to inherit all of your property. The use of a private Family Foundations also is a popular choice
to allow your charitable desires to continue far into the future, and provide a mechanism for your loved ones to manage that portion of your estate for the charitable purposes you have
specified. There are a number of other approaches to accomplish whatever your goals may be.
Charitable planning can be exciting and rewarding for you and your family. We will look forward to explaining the vast array of options, and helping you design what works best for you
and the causes you care the most about.
|
|
Elder Law is a relatively new concept in the law. It generally refers to helping seniors and their families better plan for the possibility that a parent or close friend will
need extended long-term care in a nursing home situation. Obtaining Medicaid is often a primary consideration, but this field of the law is exceedingly complex. No legal area is
more hazardous for families because of the amount of inaccurate information and wrong advice that people receive from well meaning friends, family members and, unfortunately, other
professionals. Because Congress completely revamped the Medicaid laws in February of 2006, new rules and regulations are now in place. What you thought you knew has probably changed.
Also, the State of Texas has passed a law which may allow it to acquire the home of a Medicaid recipient unless certain planning options are put into place.
Elder Law planning cannot start too soon. The very best results can be obtained if we can meet with the family well in advance of the incapacity of the loved one. In fact, once the
loved one has lost the ability to understand the process, very little planning can be undertaken. Regrettably, many powers of attorneys and Wills prepared without a full understanding of
the new laws are often inadequate in these devastating situations. At The Wiewel Law Firm, we will be happy sit down and discuss your options. Whatever the situation, you will receive
quality legal advice in a supportive, caring atmosphere.
Medicaid Planning Information
Medicaid Planning Truths and Myths
A must read -- sorting out the Myths from the Truths of Medicaid Planning.
Probate means, in essence establishing the validity of a Will the deceased may have had, determining the deceased's "legal" heirs if there has been no estate
planning, detailing the deceased's probate estate (called the inventory), paying appropriate debts, and, finally, distributing the deceased's property to the people entitled to receive
it. In the right set of circumstances this may be a relatively straight-forward process; in others, unforeseen issues or a lack of pre-planning may create unanticipated problems.
Whatever the situation, at The Wiewel Law Firm, we strive to provide the high quality legal counsel necessary to navigate the deceased's family through this sometimes mysterious and
often misunderstood process. As a Probate client, you also will receive our Survivor's Handbook, which will be a very helpful, step-by-step guide for you.
If you have recently lost a loved one and do not know where to turn, be assured that we will help you in any way that we can to make your loss more bearable.
To many of our clients, "Who Is Going to Take Care of My Pet?"
is one of their largest concerns. Proper planning can ensure that
your pets will be properly cared for not only in your death, but
also if you become disabled. A Pet Trust is an increasing popular
tool to make certain that your pets will be cared for when you can
not longer do it yourself. At The Wiewel Law Firm, we can help you
craft a Pet Plan to meet all of your goals, from selecting
the right people to take custody of your pet, and to manage the
money you have set aside for their needs.
|
