Harker Heights Legal Issues Blog

Attorney Richard "Rick" Rousseau recently presented at the State Bar Spring Continuing Legal Education (CLE) for the Military and Veterans Law Section. The presentation was catered for those who specialize in Military and Veterans Law issues. It delved into many issues, ranging from survivor benefits and family law cases to PTSD and appealing a VA benefit denial.

Attorneys throughout Texas attended the presentation to learn from the retired colonel and Department of Veterans Affairs certified attorney's expertise.

Below is a very brief sample of what they may have learned.

Aging is an unforgiving process. Even the healthiest person will eventually experience a decline in his or her physical ability. In many cases, mental faculties also begin to decline in advanced age. Medical conditions, like Alzheimer's disease, can speed up and worsen the degeneration of aging. Some people may no longer be able to stay safe while providing care for themselves or living alone. They may not be able to dress, cook, bathe or keep themselves safe alone.

Family members eventually need to step in to provide care for those who are ailing. Dementia, memory loss and similar issues can leave someone unable to care for themselves and unable to recognize those limitations. If your loved one requires constant help and protection, it may be time to seek guardianship over your loved one.

Many changes affected federal estate taxes with the passage of the Tax Cuts and Jobs Act at the end of 2017. Some people have wondered if fewer individuals in Texas and across the country may choose to include philanthropy as part of the estate planning process as a result. The fact that charitable gifts made in a will are exempt from inheritance and federal estate taxes has helped to spur significant giving from donors over the years. However, including philanthropic giving as part of one's estate can also provide powerful intangible rewards reflecting social priorities.

Up until the end of 2017, each person had a federal estate tax exemption of $5.49 million before beneficiaries would be burdened with taxes. While this already left most Americans far outside the reach of estate taxation, the exemption has now grown to $11.18 million per person as of 2018. For over 99.8 percent of people across the country, this means that their heirs will pay no federal estate taxes. Approximately 65 percent of people across the country live in states like Texas with no state inheritance tax.

Many people believe that a will is the best way to provide for their loved ones once they’re gone. While a will offers many important benefits in establishing an asset management plan after death, there are some circumstances under which a trust is a better option for your loved ones.

If you have a loved one with special needs, setting up a special needs trust can offer huge advantages over setting up direct inheritance. This type of trust is specifically designed with the needs of a special needs beneficiary in mind. Below are three core benefits of an SNT.