Waco Elder Law Lawyer
Medicaid Planning, Wills, Estate Planning & More
Elder law attorneys can help with a wide variety of issues involving families and elderly 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 with estate planning matters such as your Last Will and Testament, power of attorney, and trusts, including Living Trusts. An elder law lawyer can help you determine if you are eligible for Veteran’s Aid, Medicaid, or other benefits and can help you apply for those benefits.
In handling your current situation and planning for the future, a Waco elder law attorney at Rainey & Rainey can provide the level of counsel and personalized attention you deserve. We handle a wide range of elder law matters, including Medicaid planning, Lady Bird Deeds, qualified income trusts/Miller Trusts, asset protection, benefits planning, Special Needs Planning, guardianships, probate, and wills, trusts, and powers of attorney. We believe in preserving our clients’ independence, dignity, and legal rights in all areas of elder law.
Getting the benefits you deserve
- Many families turn to Medicaid to help pay for long-term care—at home or in a nursing facility. But Medicaid is a means-tested program, and it is best to plan ahead in order to protect your hard-earned assets.
- Even the best prepared family may be blind-sided by a need for long-term care. Medicaid can often be secured with proper planning even after a loved one has moved into a nursing facility.
- Social Security benefits can get complicated. From Social Security retirement to survivors benefits to disability, we will help you make sense of the various programs and help protect the benefits for which you and your family have worked so hard.
- Many veterans are unaware of assistance they have earned through their service. For instance, Aid and Attendance can help defray long-term costs for vets or their surviving spouses.
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 Waco elder law attorney at Rainey & Rainey can create an Enhanced Life Estate Deed, transferring your real property to your children immediately upon your death. You keep all property rights until you pass away, at which time the ownership of your real property is transferred to your children or named beneficiary. This approach can:
- Give you the flexibility to change the beneficiaries at any time.
- Preserve your right to sell or mortgage the property.
- Protect the property from your heirs’ creditors for your lifetime.
- Prevent a transfer from being taxed as gift.
- Preserve your ability to qualify for Medicaid benefits, and prevent pay-back demand.
You should also consider the following elder law planning tools, in which our lawyers are skilled in preparing and providing proper counsel:
I Have a Will. Why Do I Need Anything Else?
- An attorney can ensure that your will is properly written to determine who will represent your interests and bequests after your death. A 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.
Contact Rainey & Rainey at (254) 826-8151 for assistance with planning for your estate, so you never have to worry about tomorrow.