Waco Elder Law Attorney
Medicaid Planning & More in Waco, Georgetown & Central Texas
Elder law attorneys can help with a wide variety of issues involving families and elderly individuals. They help you determine if you are eligible for Veteran’s Aid, Medicaid, or other benefits and can help you apply for those benefits. They can also help you address nursing home issues, including ways to protect your life savings.
In handling your current situation and planning for the future, an attorney at Rainey & Rainey can provide the personalized attention you deserve. We can also help with estate planning matters such as your Last Will and Testament, Power of Attorney, and trusts, including Living Trusts.
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
- Powers of Attorney
- Probate, wills, trusts, and powers of attorney
We believe in preserving our clients’ independence, dignity, and legal rights in all areas of elder law.
To learn more about elder law and we can help, contact our Waco office today!
Getting the benefits you deserve
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.
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.
Many veterans are unaware of the assistance they have earned through their service. For instance, Aid and Attendance can help defray long-term costs for vets or their surviving spouses.
Social Security benefits can also get complicated. From Social Security retirement to survivor's benefits to a 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.
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 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 a gift.
- Preserve your ability to qualify for Medicaid benefits, and prevent pay-back demand.
You should also consider the following planning tools, 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 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 also consider having one of our Elder Law attorneys draft other documents, including powers of attorney. These will determine who can help you with your estate, with medical decisions and with your finances and property in the event something should happen to you.
Other important documents for consideration include a Living Will, Designation of Agent for the disposition of your remains, and a Declaration of Guardian in the event that 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.