Comprehensive estate planning covers nearly every aspect of life. It begins with protecting yourself and your personal dignity, and extends to protecting your loved ones and your hard-earned assets.
Follow the links below to learn more about our Estate Planning services provided at Vacek & Thain, PLLC:
Many are faced with both the physical and mental incapacities that accompany aging, accidents, and hereditary conditions. More than ever before, it is essential to have an in depth, complete estate plan that handles more than just who gets your property. A sophisticated and well designed estate plan can not only ensure that your family is protected and your financial goals are met after you are gone, but also take care of you in the event of incapacity.
Learn more about the "must have" Estate Planning documents.
Historically speaking, the federal estate tax is an excise tax levied on the transfer of a person's assets after death. In actuality, it is neither a death tax nor an inheritance tax, but more accurately a transfer tax. There are three distinct aspects to federal estate taxes that comprise what is called the Unified Transfer Tax: Estate Taxes, Gift Taxes, and Generation- Skipping Transfer Taxes. Legal planning to avoid or minimize federal estate taxes is both a prudent and an important aspect of comprehensive estate planning.
Learn more about Estate Tax Planning.
We encourage and assist the tradition of giving to charitable causes, including the employment of tax-advantaged strategies that maximize the value of your gift. We help clients make charitable gifts and practice good stewardship in the most tax-efficient manner.
Learn more about Charitable Giving Strategies.
The attorneys at Vacek & Thain, PLLC have prepared almost 10,000 trust-based estate plans! And more, we know trust planning works. That is because we have also helped our clients to settle, or administer, over 3,000 of our trust plans after the death of one or more of the trust creators. We strive to educate our clients and to assist them create the very best estate plan for them and their families.
Find out how about Revocable Living Trusts.
The IRA Inheritance Trust® is a unique trust which takes full advantage of beneficial changes in the tax law that went into effect in the year 2003. It applies to IRA accounts, 401(k) accounts, 403(b) accounts, Roth IRA’s and most company plans that provide you with the ability to name death beneficiaries.
Learn more about IRA Inheritance Trust©.
A person may desire to make a gift of cash from their estate to their children and grandchildren and, at the same time, take advantage of gift tax exclusions and lifetime exemptions. Another consideration is whether the child or grandchild has matured to a point where a person would feel comfortable turning over a large sum of money to them in order to minimize gift taxes and provide peace of mind. A Heritage Trust can be set up to own the money that is given to the child or grandchild.
Learn more about Heritage Trusts.
Asset protection tools and techniques can be used to help protect your assets from aggressive litigants (i.e., "Predators"). Unfortunately, we live in a world where unscrupulous people seek out opportunities to file lawsuits. Although Vacek & Thain, PLLC is of the opinion that no asset protection planning is guaranteed to be 100% bullet-proof, we can assure you that there are time-tested estate planning tools that prove to be very successful at protecting your assets.
Learn more about Advanced Asset Protection Planning.
If you have minor or disabled children you should have a Guardianship Declaration in place in the event the need arises. Vacek & Thain, PLLC provides its clients with Guardianship Declarations for minor and/or disabled children. You should give serious consideration as to who appropriate guardians should be for them to live with if something happens to you.
Learn more about Declaration of Guardian for Minor Children.
At Vacek & Thain, PLLC, we believe that no estate plan is complete without preparing these essential medical care documents. Your estate is more than your money. With the correct medical care documents, your family will be able to properly and efficiently care for you and look after your best interests. Below is a description of the commonly prepared medical care documents we can provide as we aid you in planning your estate.
Learn more about Healthcare Documents.
A Will, also known as a Last Will and Testament, is used to formally state who you want to receive your property when you die. A Will also names an Executor to settle your affairs. You may also name a legal guardian for a minor child (under eighteen years of age). But remember: "A Will is not a Will unless a judge says it is!"
Learn more about Will Based Estate Planning.
How often have we been told by family, advisors, and friends, “Do you have a Will?” While a Will is certainly better than no Will, so too is a bicycle with only one flat tire better than a bicycle with two flat tires. Many people are unaware of the many hazards and inadequacies of a Will based estate plan.
Learn more about Hazards of Will Planning.
Special needs is the broad category of requirements and care for individuals suffering from a wide range of physical disabilities, medical conditions, intellectual difficulties, or emotional problems, including physical conditions, learning difficulties, and behavioral problems.
Learn more about Special Needs Estate Planning.
Vacek & Thain, PLLC handles Estate Administration in addition to the planning. The firm has experience in helping clients settle the estates of their loved ones and planning for future needs.
Learn more about Estate Administration.
Settlement of the trust estate may include valuation of assets under current IRS rules, establishing a new basis for assets receiving a stepped-up basis, probate (if necessary), preparation and filing of a Federal Estate Tax return (Form 706) if required, implementation of your Federal Estate Tax plan, distribution of assets according to the terms of the trust, advice concerning your fiduciary responsibilities as a trustee, and an update of your estate plan as necessary to meet changing needs and those of your family within the guidelines of the trust if you are a surviving spouse.
Learn more about Trust Administration.
Vacek & Thain, PLLC can assist your executor, administrator, or personal representative, through the Texas probate system. Settlement of the probate estate may include valuation of assets under current IRS rules, establishing a new basis for assets receiving a stepped-up basis, preparation and filing of a Federal Estate Tax return (Form 706) if required, implementation of your Federal Estate Tax plan under a tax planned will, distribution of assets according to the terms of the Will, and advice concerning your fiduciary responsibilities as an executor/executrix, personal representative or administrator.
Learn more about Probate.
Vacek & Thain, PLLC serves Texas families with their estate planning, estate tax planning, charitable planning, revocable living trusts, irrevocable trusts, Heritage trusts, wills, power of attorney, family limited partnerships, advanced asset protection planning, declaration of guardian for minor children, healthcare documents, will based estate planning and the hazards of will planning, special needs estate planning, estate administration and trust administration. Contact Vacek & Thain, PLLC if you or your loved ones reside in the Houston, Texas area, including: Katy, Cinco Ranch, Mission Bend, Pecan Grove, Richmond, Rosenberg, Greatwood, Sugar Land, Meadows Place, Bellaire, Fresno, Pearland, South Houston, Spring Valley Village, Pasadena, Clear Lake, Friendswood, and more!
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