Wealth Transfer And Nursing Home Planning
Elder law deals with the legal aspects of aging and retirement. This includes health care planning and wealth management considerations in the context of eligibility for government programs. With advance planning, aging individuals can make provisions for long-term care while maintaining a comfortable lifestyle and preserving family assets.
The law firm of Pursley, McNamara & Flint, PLLC, provides a variety of strategies for protecting family wealth and preparing for nursing home care. Our knowledgeable and compassionate lawyers can help whether you are planning far ahead or scrambling for solutions after the rapid decline of a spouse or elderly parent.
We provide counsel in Texas estate planning and elder law to clients in Missouri City, First Colony, Sugar Land and throughout Fort Bend County. Contact us today to schedule a free consultation.
Sugar Land Lawyers For Long Term Care Planning
The high cost of nursing home care creates a serious quandary for families. Federal regulations require individuals to spend down personal assets to qualify for government subsidy of long-term care. Congress has also clamped down on the ability to gift assets to heirs in anticipation of elder care. Unauthorized transfers within the five-year “look-back” period can result in financial penalties and delays or denial of Medicaid eligibility.
Partners Mallorie McNamara and Justin Flint can identify available strategies to fund long-term care without depleting the family fortune or giving up control of assets. For example, we can help reserve a life estate in your home, take advantage of annual gifting limits and otherwise transfer and reduce assets within the law to qualify for government programs.
We can cover the broad spectrum of elder law matters, including:
- Maintaining eligibility for Medicare/Medicaid
- Social Security Disability (SSD) or Veterans Administration (VA) benefits
- Funding long-term care insurance
- Setting aside funds for grandchildren
- Creating a special needs trust
- Drafting a will and powers of attorney
- Going to court to seek conservatorship
- Financial elder abuse (fraud or misappropriation)
Solutions For Complex Elder Law Matters
Asset protection and nursing home planning ideally starts years in advance. However, we can ease the burdens at any stage of the process.
We offer a FREE initial consultation, including evenings and weekends by appointment. Call our Missouri City elder law lawyers at (713) 766-4326, or contact us online.