Trust Creation Services For Central Texas Families
Trusts are excellent tools for preserving assets, minimizing taxes, avoiding probate and ensuring the financial security of loved ones. At Johnson Hobbs Squires LLP, we provide a full range of sophisticated estate planning and trust creation services to our clients in Waco and throughout Central Texas.
Call us for your free initial consultation at 254-262-3925.
Our estate planning and elder law practice is led by attorney Mark C. Hobbs, who is Board-Certified in Estate Planning and Probate by the Texas Board of Legal Specialization. Whatever your family situation may be, attorney Garrett Beach will listen carefully to your concerns and develop a strategy that is customized to meet your objectives.
Your Various Trust Options
In general, you can use a trust to hold assets outside of your estate, but a variety of trusts are available to achieve specific goals. Depending on your needs and those of your beneficiaries, your trust options may include:
- Special needs trusts
- Trusts for minor children
- Bypass (Credit Shelter) trusts
- Marital (QTIP) trusts
- Life insurance trusts
- Generation-skipping trusts
- Educational trusts
- Spendthrift trusts
- Income-generating trusts
- Charitable trusts
- Intentionally defective grantor trusts (IDGTs)
- Grandchildren’s trusts
- NFA Gun Trusts
Our attorneys can help you explore these and other solutions to ensure that your estate plan is comprehensive.
Trusts And Government Benefits
A properly drafted trust — specifically, an irrevocable trust — can be used to protect assets while maximizing eligibility for Medicaid benefits and veterans benefits. It is important, however, to draft the trust in such a way that it complies with the various rules and regulations for Medicaid and Veterans Affairs.
At the firm, we create integrated planning solutions that may involve trusts, Medicaid benefits, VA benefits and private insurance — all to preserve our clients’ assets while helping to ensure that the cost of long-term care is covered. The cost of care in a nursing home or assisted-living facility can quickly deplete estate assets, and we can help you and your family avoid this outcome.
Legal Representation For Trustees And Trust Beneficiaries
We also represent individuals and families in trust disputes. Whether the situation involves questions of trustee malfeasance, trust modification, trustee removal or improper disbursement of trust assets, we are prepared to negotiate and litigate on your behalf.
Additionally, we counsel individual and corporate trustees with regard to trust administration, and we advise clients as to the benefits and potential drawbacks of choosing either an individual or a corporate trustee.