Welcome to the Carroll Troberman, PLLC website. We proudly serve people throughout the Austin community, and we sincerely care about the well-being of our neighbors and their families.
Help is just a phone call away. If you would like to schedule a consultation with our firm, we can be reached at 512-478-3800.
Last Wills & Trusts
When you think about estate planning documents, the last will may come to mind first. This device can be satisfactory for some people, but a trust will often be the better choice, even if you are not a multimillionaire.
There are trusts that are useful for high net worth individuals, and we can explain your options to you in this regard. At the same time, revocable living trusts are very useful for people that do not consider themselves to be extraordinarily wealthy.
Probate & Trust Administration
It is important to have the appropriate legal documents in place to direct the distribution of your assets after you pass away, but you also have to consider the process of estate administration. If you use a last will, you would name an executor or personal representative. This individual would be required to admit the will to probate, and the court would supervise the administration of the estate.
There are many tasks that must be completed during this process, and probate laws are complicated. Many people will choose an executor that is a family member or friend with no experience dealing with the probate court. Under these circumstances, a probate attorney can provide invaluable assistance, and we can be engaged to guide your executor through probate.
One of the advantages that you gain when you utilize a trust instead of a will is the avoidance of probate. However, there are still administrative tasks and legal steps that must be taken when a trust has been established. This is another area of expertise for us, so we can spring into action to help your family understand how to proceed.
Every well-constructed estate plan should include an incapacity planning component. With a living will, you can state your wishes with regard to the utilization of life-sustaining measures like artificial nutrition and hydration. A durable power of attorney for health care should be added to empower someone to make medical decisions on your behalf in the event of your incapacitation. To account for financial decision-making, you can also include a durable financial power of attorney.
Special Needs Planning
Medicaid is a source of essential health care insurance for people with special needs, and Supplemental Security Income provides a bit of financial support. A sudden influx of money through an inheritance or a personal injury settlement or judgment could impact eligibility for these need-based benefits. Fortunately, a special needs trust can be established to make a benefit recipient more comfortable without jeopardizing eligibility for these government programs.
In addition to the estate planning side of things, we also help clients that are preparing for the eventualities of aging, and the two facets dovetail into one another. The most pressing elder law issue of our day is the matter of long-term care. Most senior citizens will need help with their activities of daily living eventually, and many will reside in nursing homes. Unfortunately, Medicare will not assist with the costs, and they can be considerable.
Medicaid does pay for long-term care for senior citizens. Since it is intended for people with very limited financial resources, people that want to qualify for Medicaid to pay for long-term care must divest themselves of countable assets.
This takes careful planning, because the divestitures must be completed at least five years before they submission of the application. We can gain understanding of your financial situation and your legacy goals and custom craft a personalized plan that leads to Medicaid eligibility at the ideal time.
Schedule a Consultation Today!
As you can see, there are a lot of things to take into consideration when you are planning your estate. We are here to help if you would like to discuss your legacy goals with a licensed Austin, TX estate planning attorney. You can schedule a consultation right now if you give us a call at 512-478-3800, and we can also be reached through the contact page on this website.