Preserving Family Wealth for Generations

info@voellerlaw.com

(210) 651-3851

19311 FM 2252 Suite 103, San Antonio, Texas 78266

Caring Through Support Trusts

The challenge of caring for a disabled or special needs family member can be rewarding, but also exhausting financially and emotionally. There are legal methods for helping caretakers through this difficult time and ways to support the disabled loved one in the future.

Tools for Long-Term Support

Disability trusts are created for the purpose of caring for a disabled person in the event of their caretaker’s death.

Support trusts are designed to take care of basic needs. This type of trust requires the trustee to make distributions for necessities like food, shelter, clothing, medical care, and educational services. The “level of support” required is generally interpreted as the level to which the beneficiary is accustomed to.

In these cases, the trustee is the party who oversees the distribution of assets and funds. Trustees can be financial institutions, relatives, or neutral third parties. But whoever they are, they have a great deal of responsibility.

The support trust is an estate planning tool commonly used by parents who want to take care of their children after they pass away or become unable to care for their child.

One of the greatest benefits of the support trust is that the assets in the care of the trust cannot be taken by creditors. Even if the grantor of the trust owed money to someone else, the creditor cannot come after the assets in the trust. This ensures that the beneficiary will be taken care of in the future.

What Is Included

Both the Disability and Support Trusts are created to pay for essentials. In fact, if a beneficiary wants money for something that is considered a “luxury,” they may have to submit a request to the trustee to be reviewed and approved.

Beneficiaries of support trusts are not eligible to receive financial assistance through Supplemental Security Income (SSI) or Medicaid. If your child will require SSI or Medicaid, you should avoid a support trust.

Setting up either a Disability or Support Trust is a convoluted process with an overwhelming amount of legal documents and filings.

If you are considering setting up a trust to care for your child in the future, contact us today to schedule a free consultation at (210) 651-3851. Our San Antonio law firm has over 35 years of experience and we will work to preserve your family’s wealth for generations to follow.

Can Giving Back Benefit Your Estate?

Nothing feels as good as giving back. But in order to have control over where your donations are given as you pass away, you need legal counsel in charitable planning.

In May of this year, the Eagle newspaper reported that three brothers who hail from San Antonio, TX kicked off a cross-country bike journey. The “Brothers Bike” excursion will hopefully raise $500,000 for two charities they helped build.

These philanthropic men will likely want to make charitable giving a central component of their estate and provide donations not only in the present but also after they pass away. To fulfill this dream, they will want to consult legal counsel on charitable planning.

Supporting Charities

In the eyes of the law, charitable contributions are gifts made to organizations that have obtained non-profit 501(c)(3) tax status, such as educational institutions, religious organizations, government entities, and other charities.

It is not always a monetary donation that counts. A charitable contribution is anything that may be of value to a qualified charitable organization such as clothing, household items, cars, real estate, securities and other assets.

To claim the charitable contribution tax deduction, you must be in compliance with federal and state laws and regulations. These are a key component of estate planning and can help avoid high taxation at the time a person passes away.

Many of our clients at Voeller Law Firm in San Antonio profit from our expertise on how to manage tax liability and charitable gifts to benefit their estate.

Charitable Trusts

Creating trusts to benefit charities can be a valuable tool. Typically, charitable trusts are established as part of an estate plan to lower or avoid estate and gift taxes.

“Our attorneys are dedicated to honoring the role that nonprofit organizations play in our city,” states David Voeller. “We have 35 years of experience helping families plan for their futures, strengthening our communities and safeguarding their assets.”

If you are passionate about charitable trusts and contributions and want to learn more about how they can help protect your assets, contact Voeller Law Firm. We will help you with your estate planning, define your charitable objectives and advise you on how to distribute some of your estate to a charity to minimize taxes while you support your favorite causes.

Call us today to schedule a free consultation at (210) 651-3851 or log onto http://www.voellerlaw.com to learn more.

The Crucial Role of a Business Lawyer

For many business owners in the San Antonio and neighboring communities, working with a lawyer is a lower priority than staffing, marketing, and sales and is done only when there’s a problem.

However, smart companies focus on planning and preventing problems in advance. They make sure their businesses are protected against potential trouble by working with a business lawyer early in the process.

10 Reasons for Legal Counsel

A business lawyer plays a crucial role in the formation of a company, the sale of a business and everything in between. From the start of your business venture to the finish, having a specialized lawyer in your corner to offer countless services can make running your business go much more smoothly.

A business lawyer provides a variety of services.

  1. Determine and establish the best structure for your business whether it is a sole proprietorship, partnership, limited liability partnership or corporation
  2. Assist in taxation issues
  3. Review and make recommendations on contracts ranging from leasing space to working with vendors
  4. Defend intellectual property such as a company’s name, logo, and distinctive goods and services
  5. Navigate the complex city compliance codes and assist in obtaining state licenses required
  6. In the event of a dispute, a business lawyer will help protect clients, go to arbitration or court if needed
  7. Assist in the collection of debts and the use of liens if additional collections actions are needed
  8. Provide legal counsel for the company if it goes public
  9. Provide guidance when owners retire, referred to as business succession, to help plan for the future and put the business in the best position for a profitable and smooth transition
  10. Facilitate full or partial sale of a business, handling both the financial aspects and the changes to the business formation

Quite simply, no business can afford not to hire a lawyer since attorneys are intimately involved in advising businesses on their legal rights, responsibilities, and obligations.

Call us today to schedule a free consultation at (210) 651-3851 or log onto http://www.voellerlaw.com to learn more.

Avoiding the Burden of Probate

When you pass away, the last thing you want to do is create a messy probate situation for your heirs and beneficiaries.

Probate is the court-supervised process of sorting and administering a person’s will. Probate is the court proceeding where a judge validates a will, gives it legal approval, and designates the named executor with authority to administer a decedent’s estate.

Until probate takes place, an executor does not have any legal authority, and estate assets cannot be legally transferred.

While this process sounds simple, the probate process can take a lot of time and money, especially if the will is contested.

Simplifying the Probate Process

The experienced attorneys at the Voeller Law Firm can streamline the probate process to help you efficiently settle your loved one’s estate.

“It is essential to work with an experienced attorney in order to get through the probate process as smoothly as possible ,” said James Voeller, an experienced attorney who has been practicing for over 35 years. “Our goal is to provide the most accurate advice so our clients can be well informed and properly prepared. Our law firm can even suggest ways to avoid the probate process altogether.”

 

Avoiding Probate

The most common way to avoid probate is to set up a revocable trust for lifetime management of ones assets. Another method of probate avoidance is to use joint-ownership of assets with the people whom you want to inherit your property.

One obvious, but often overlooked way to avoid probate is to simply give your property away before your death. But even this requires planning and forethought under the guidance of legal counsel.

However, it’s important to note that a person can only gift another individual a specific amount before it’s subject to gift taxes.

We’re Here to Help

The qualified estate planning attorneys at the Voeller Law Firm will help you develop estate planning strategies that can skip the probate process, save expenses, minimize hours of administration, and eliminate potential family conflicts down the road.

Call us today to schedule a free consultation at (210) 651-3851 and get started putting your estate planning strategies in place.

Understanding the Importance of Asset Protection

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San Antonio asset protection lawyers help both individual and business clients determine the best ways to avoid frivolous lawsuits and other threats to their lifetime of work and savings. These types of expert attorneys work to help people and companies avoid becoming the victims of groundless lawsuits.

Irresponsible lawsuits can happen to individuals or major organizations. An example was seen in the recent NBA playoffs when a San Antonio Spurs fan filed suit against the Golden State Warriors and player Zaza Pachulia for the injury to a top-rated Spurs player. A Texas judge denied the request, but a skilled attorney was required to get the lawsuit dismissed.

 

Benefits of a Lawyer

As you become more and more successful, your assets will continue to grow. You need to guard your assets from liability and from over taxing.

Proper asset protection requires careful legal planning for both your personal and business possessions and resources to put them beyond the reach of potential future threats, creditors and liabilities while simultaneously enjoying the benefits of those assets.

At the Voeller Law Firm, we understand both the advantages and disadvantages of using vehicles such as irrevocable trusts, limited liability companies, homestead exemptions, retirement plans,  and partnerships to protect your hard earned dollars. These methods must be employed legally and accurately to truly protect you.

Asset protection is one of the most complex areas to comprehend. To decide if an asset protection strategy will work for you, it is best to seek the assistance of a qualified attorney whose practice is focused on estate planning and wealth preservation.

At the Voeller Law Firm, we serve the greater San Antonio area and we can help you formulate plans, trusts, and business entities to avoid threats to your assets. The value of having an asset protection attorney is that you have a true professional who understands your situation and who will work to defend your hard earned possessions.

To learn more, contact us today to schedule a free consultation at (210) 651-3851 and put our over 35 years of experience to work for you.