The Woodlands Trust Lawyers
For many, a will alone is not sufficient to accomplish their estate planning goals. A trust is a much more dynamic tool. It is more flexible and offers more options. At Gauntt, Koen, Binney & Kidd, LLP, our trust lawyers or attorneys in The Woodlands understand the value of trusts. With decades of experience on our side, we know how to make certain our clients benefit from this tool when appropriate based on the size of their estate and their goals.
Why Living Trusts Are Valuable
We typically create what are referred to as living trusts. These are trusts that take effect when the client is still alive, whereas a will only takes effect upon death. These trusts serve a similar purpose as a will. They provide instructions about how assets will be distributed to beneficiaries after death. They have further value in that they also allow the successor trustee to carry out instructions regarding finances, health care and legal matters in the event of incapacity.
Living trusts can be created in many forms, depending on the client’s needs. Some are general. Others may be very specific such as a special needs trust. Our lawyers are familiar with all the various permutations of living trusts, as well as their role in estate tax avoidance.
Elder Law And Trusts
Trusts are not just about planning for death. They can be important tools when planning for later years. For example, our attorneys frequently assist with the creation of Miller trusts. These trusts are used as part of a strategy to protect assets when planning for life in a nursing home. They are designed to deal with Medicaid and Social Security benefits.
Talk To Our North Houston Estate Planning Attorneys
Contact our Texas law firm via phone at 281-367-6555 or via email.Schedule Your Free Consultation