Waco Elder Law Attorney
Elder Law attorneys can help you with a wide variety of issues involving families and elder individuals. They can help you address nursing home issues, including ways to protect assets and life savings from being depleted by nursing home care. They can also help you with estate planning matters such as your Last Will and Testament, powers of attorney, and trusts, including a Living Trust. Elder law attorneys can also help you determine if you are eligible for Veteran’s Aid benefits and help you apply for those benefits.
I Have a Will, Why Do I Need Anything Else?
Your Elder Law Attorney can ensure that your Will is properly written to determine who will represent your interests and bequests after your death. Your Last Will and Testament ensures your last expenses are paid and all wishes followed. Probate begins by filing a decedent’s Will with the court. There are time constraints for asset inventory and debt payments before allowing distribution to heirs. The probate process can be made much simpler by drafting a proper will.
You should consider drafting documents and powers of attorney that will determine who can help you with your estate and medical decisions in the event something should happen to you or in the event you should be away and someone needs to help you with your finances or property. You should also consider drafting a Living Will, Designation of Agent for the disposition of your remains and a Declaration of Guardian in case the court finds that you need a guardian.
Enhanced Life Estate (Lady Bird) Deed
Texas was one of the first states to provide the Enhanced Life Estate Deed or Lady Bird Deed. Your Elder Law Attorney can create an Enhanced Life Estate Deed transferring your real property to your children immediately upon your death. You keep all property rights until your pass away, at which time the ownership of your real property is transferred to your children or named beneficary. Your Elder Law Attorney has assured you:
- have the flexibility to change the beneficiaries at any time.
- keep the right to sell or mortgage the property.
- have the property protected from your heirs’ creditors for your lifetime.
- prevent transfer being taxed as gift.
- preserve your ability to qualify for Medicaid benefits, and prevent pay-back demand.
Additional Elder Law planning tools that should be considered, and that our lawyers are well skilled in preparing and providing proper counsel:
Contact Rainey & Rainey Elder Law Attorneys for assistance with planning for your estate and preparing beneficial documents, so you never have to worry about tomorrow.