Here at the Vermillion Law Firm, we deeply identify with our connection to the community here in Dallas, Texas. Let’s face it, Dallas is a very unique place, and it gets into your blood, and it gets under your skin when you call Dallas your home. They say that everything is big in Texas, and the commitment that we have to our friends and neighbors here in Dallas is absolutely huge. We have been helping families preserve their legacies around here for decades, and we are a multi-generational law firm, so we are not going anywhere anytime soon.
John Vermillion was born and bred in Texas, and he is a proud alumni of Texas Christian University. In fact, he sits on the TCU Dallas Alumni Board, so his connections to the community run very, very deep. Mr. Vermillion has always done a lot of work for people with special needs, and he is a sponsor of the National Alliance for Mental Illness Walkathon here in Dallas.
Our other attorney, Jennifer Vermillion, also has deep roots in the Dallas community. She earned her J.D. Degree from Southern Methodist University here in our city, and she is a member of the Dallas Bar Association along with the State Bar of Texas. Ms. Vermillion also donates time to the community through her work with the Dallas Volunteer Attorney Program.
Clearly, we are embedded in the community that we serve, and we understand the needs of people in our area. If you choose to work with our firm, you will interact with local professionals who fully understand the needs of people who live in and around this great city.
Personalized Estate Planning in Dallas
Your estate plan should be a response to your unique personal, familial, and financial situation. There are many different options available to you, and you should make all the right choices. Some people think that a last will is the only logical choice if you are not extraordinarily wealthy. In fact, this is not the case. There are some drawbacks that would enter the picture if you use a last will to state your final wishes
If you use a will, the people that are named in the will are going to have to wait for their inheritances, and the wait can be a long one, because the executor of the estate would be forced to admit the will to probate. During this process, the court would supervise the administration of the estate, and it will typically take close to a year (if there are no major complications). Expenses also accumulate during probate, so a good bit of money can be lost.
It would be possible to use a living trust if you want to avoid these pitfalls. Assets in the trust could be distributed outside of probate after your passing, but you would not lose control of the assets while you are alive. These trusts can also protect assets that you are leaving to your loved ones.
There are advanced estate planning tools that can be used to address more complex circumstances. For example, high net worth individuals can be exposed to the federal estate tax. Tax efficiency strategies can be implemented to ease the burden if you work with a licensed estate planning attorney.
Nursing Home Expenses in Dallas
We also help Dallas residents who are concerned about long-term care expenses. The majority of elders will need living assistance eventually, and nursing homes and assisted living communities are very expensive. If you have to spend a few years in a nursing home toward the end of your life, you could be looking at hundreds of thousands of dollars in long-term care bills.
Medicare does not pay for long-term care, but Medicaid will assist with these expenses. Our firm can help you keep assets in the family as you take steps that lead to future Medicaid eligibility.
Get Started with a Knowledgeable Dallas Estate Planning Attorney
A lot of people procrastinate when it comes to estate planning, because they are not especially anxious to discuss personal matters with someone that they have never met. We understand this reluctance, and that is why we go the extra mile to make our clients feel comfortable every step of the way.
We are members of the same community that you work, play, and worship in, and you will naturally feel at home when you sit down to discuss your estate planning goals with us. If you’re ready to get started, give us a call at (972) 366-7201 or send us a message through our contact page to set up a no obligation initial consultation.