Dumas, TX | 806-935-9272

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Wills, Trusts, and Estate Planning

Who Needs an Estate Plan?

People put off estate planning for various reasons: they feel they don't have enough assets to make it worthwhile, the topic makes them uncomfortable, or they simply don't see the need. The reality is that every adult needs an updated estate plan, regardless of the size of their estate.

 

Estate planning is particularly important for the following groups:

• Parents with minor children, to ensure the children's financial

 support and that they will be cared for by the people their

 parents choose.

• Parents with special needs children of any age.

• Adults in a second marriage who have children from a

 previous marriage, in order to ensure that both a surviving

 spouse and adult children receive the assets the grantor

 intends to leave them.

• Business owners, to ensure that their business survives and

 passes into the right hands.

• Unmarried adults who wish to leave part of their estate to a

 partner or other unrelated person.

• People who want to leave part of their estate to a favorite

 charity or organization.

• People who want to maximize the assets received by their

 loved ones and minimize taxes paid to the government.

• People who would like to have control over their own medical

 decisions, even if they become incompetent or disabled.

• People who want to preserve family relationships and avoid

 fighting over their estate when they are deceased

 

 Because all clients and families are different, we offer a variety

 of services with which to customize each estate plan and meet

 our clients' individual needs. Our extensive experience in this

 area allows selecting the tools that will achieve our clients'

 goals with the least expense and fewest complications.

 

  Among the services we offer are:

Wills: This document communicates to your heirs and the

 probate court how you wish to dispose of all assets in your

 name that do not have a designated beneficiary.

 

Medical Directives and Living Wills: These directives

 instruct healthcare providers on medical treatment you should

 receive if you are no longer able to communicate that       information yourself. Medical directives can also appoint

 someone to make medical decisions on your behalf if you

 are incapacitated.

 

Revocable and Irrevocable Trusts: These mechanisms are

 useful for protecting assets from creditors, directing how they

 are to be used both during your life and afterward, and helping

 them pass from grantor to beneficiary outside of the

 probate process.

 

Asset Protection Planning: For clients with significant

 assets, this type of comprehensive plan minimizes tax burden

 while allowing control of assets and access to the income

 they generate.

 

Financial Power of Attorney: This directive gives an

 individual you designate the power to handle financial matters

 on your behalf if you are incapacitated.

 

Planned Giving: For clients who wish to leave assets to a

 favorite charity or organization, planned giving can allow the

 realization of tax benefits now while maintaining use of or

 income from the asset until death.

 

Medicaid and Long-Term Care Planning: Proper planning

 puts in place insurance and other tools to provide for needed

 nursing home or long-term care, without draining assets

 intended for the use of loved ones.

 

Succession Planning: For those clients who have spent

 years building a business, succession planning ensures a

 smooth transition between their own management and their

 chosen successor, avoiding waste and preserving assets.

 

Retirement Planning: Moore, Lewis & Russwurm, P.C. helps

 clients plan for a reliable income stream in retirement through

 the use of tax-free and tax-deferred retirement accounts,

 annuities, and other strategies.

 

Tax Planning: Our attorneys keep abreast of the ever-

 evolving tax code so that we can help our clients protect their

 income and assets from being consumed by tax obligations.

 Guardianships and Conservatorships: If a loved one is no

 longer capable of managing their personal or financial affairs,

 we can assist in getting a guardian or conservator appointed to

 take care of those matters.

 

Prenuptial Agreements: Prenuptial agreements are a

 common and helpful estate planning tool, and are especially

 useful to clarify goals and expectations in second marriages

 when the parties have children from previous relationships.

Real Estate

 Moore, Lewis & Russwurm, P.C. regularly represents both

 businesses and individuals in real estate transactions,

 including purchases, sales, leases and rentals. We understand

 that for many of our clients, such transactions are  

 tremendously significant on both a personal and financial level.

 

 Because real estate transactions can be very complex, our

 firm prides itself on attention to the minute detail in  

 negotiating, drafting, and reviewing real estate agreements.  

 Our focus is on protecting our clients' interests and ensuring

 that they receive the best possible value in their

 real estate transactions.

 

 While our transactional real estate work is geared toward

 minimizing difficulties for our clients in their purchase or sale of

 real estate, we understand that from time to time, real estate

 disputes do arise. In those cases, our knowledgeable and

 experienced attorneys are available to negotiate or litigate to

 resolve any contested issues.

 

 Residential Real Estate

 For most homeowners, a real estate purchase is the largest

 transaction in which they will ever take part. At the same time,

 most individuals will only participate in a few real estate

 transactions in their lifetime.  It is essential to have the counsel

 of knowledgeable professionals who deal with such

 transactions every day.

 

 Whether a homeowner is buying or selling, there are usually a

 great many details that can be negotiated to improve the

 outcome of the transaction. Our attorneys know what to look

 for, understand what is negotiable, and work diligently to

 secure the best possible deal for their clients.

 

 Our attorneys can help with negotiations, transactional  

 documents and disputes concerning:

• Sale terms

• Review of mortgage documents

• Post-inspection contract modifications

• Drafting of leases and rental agreements

• Negotiating easements and rights of way

• Structuring short sales

• Resolution of boundary issues

• Construction and contractor agreements

• Structuring and review of financing agreements

• Land contracts

• Resolution of title issues

• Farm and agricultural land

 

 Commercial Real Estate

 Commercial real estate often has special requirements and

 restrictions, and businesses seeking to acquire or sell

 commercial real estate do well to secure knowledgeable

 counsel for their transactions.

 

 We are familiar with all aspects of commercial real estate

 transactions, from preparing a purchase offer to closing. We

 offer our clients in-depth understanding of the workings of both

 small-and large-scale commercial transactions, whether for

 unimproved land or an existing developed property.

 

 In addition to assisting with negotiating transactions, securing

 financing, drafting contracts, and representing our clients at  

 closing, we also offer legal support in post-closing matters  

 such as development and construction, refinancing, and

 leasing of the property.

 

 Our experience and capabilities in commercial real estate

 matters include:

• Collaborating with clients to develop business strategies and objectives for real property

• Advising clients on acquisition and development of real estate

 projects of all sizes

• Structuring property ownership and financing transactions with  

 the use of business entities such as limited liability companies

 and partnerships

• Reviewing and analyzing contracts for construction,

 engineering, and architectural services

• Due diligence reviews

• Refinancing and restructuring of non-performing financing

 obligations

• Negotiating and drafting development agreements and

 management

• Negotiating and drafting agreements with regard to easements

 and restrictive covenants

• Farm and agricultural property

We will assist you in planning for your final needs, planning for your family's future and protecting your assets.

 

Contact us today to schedule an

initial consultation

806-935-9272

Plan for your final wishes

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