Part of McCreary Law Office’s Houston-based elder law practice includes proactive planning for the future. In planning for long-term care, an elder law attorney can help you structure your estate to more thoroughly provide for your care as you age. McCreary Law Office can work with clients far in advance of when those needs arise to make sure assets are preserved to help supplement care later in life and to protect assets for family and loved ones in the future.
One of the biggest mistakes people can make when they start thinking about long-term care is to give away their assets. This gifting can not only cause someone to be ineligible for Medicaid in the future if someone needs to qualify during the look-back period, but such gifting can also put your assets at risk. Also, you typically lose all control if you merely give things away.
Instead of giving assets away, an elder law attorney can draft a lifetime trust for you to protect those assets for your family’s future and, ideally, to supplement your care as you age. The rules for these trusts are complex to make sure you and your family are still getting the most benefit from other estate planning and tax rules. So the key issue in these trusts is how they are designed.
If you would like to talk with Jana McCreary about a trust to plan for your long-term care, contact the Houston office directly or complete the online form, and we can schedule an introductory call.
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