“Good fortune is what happens when opportunity meets with planning.”
– Thomas Alva Edison
Strohmeyer Law assists families with planning for the future. Our goal for you is to have peace of mind. We will help you with all aspects of estate planning to craft a plan that works for you and your family. To meet your specific needs, we’ll use a number of tools, including wills and revocable trusts, durable powers of attorney, and advance health care directives (also known as living wills), and designations of guardian for you and your children.
Schedule a call with Strohmeyer Law.
We realize that scheduling an office meeting isn’t always convenient on top of an already full schedule. For that reason, we have limited availability during evenings and weekends to meet with you. Please feel free to bring your children to meetings if that makes it easier for you. We’ll have things for them to do in the office, or they can use nearby Levy Park during our meeting.
The 2017 Tax Bill didn’t eliminate the need for estate planning.
The 2017 Tax Bill doubled the estate tax exemption to $11,180,000 per person in 2018, effectively removing the tax planning aspect of estate planning for most of the population. While tax planning is no longer the focus of estate planning, it’s still necessary to have a plan in place to control the disposition of your assets on your death. Without that plan, what you own when you die will be distributed according to Texas law, which may not fit with your goals for your family.
US Planning for Nonresidents
The 2017 Tax Bill only increased estate tax exemptions for US citizens and residents. For those living outside the US with assets in the US, the exemption amount remains $60,000, meaning that a nonresident can have a US estate tax problem after investing a small amount in the US. While some nonresidents live in a country with an estate or a gift tax treaty with the US (providing them with better planning opportunities), they are in the minority. By planning for the US estate tax, nonresidents can mitigate a potentially huge estate tax problem.