Asset Preservation Helps Ensure Medicaid Eligibility
Nobody wants to watch a lifetime of wealth dwindle away to pay creditors, taxes or nursing homes. Instead, you should have the freedom and ability to decide how you want to distribute your own assets to leave a meaningful legacy. Asset preservation strategies do just that.Asset preservation is an important component of estate planning. It requires implementing concrete legal tools to protect your legacy and ensure that your loved ones — not creditors, the government or a nursing home — will receive the fruits of your lifelong work.
Four Ways To Protect Your Assets
It is never too soon to start protecting your assets through a carefully tailored estate plan. Through a properly crafted trust, for example, you can protect your assets by:
- Avoiding the expense of probate
- Minimizing income, estate and gift taxes
- Protecting assets from judgments
- Planning ahead for long-term care costs
Likewise, asset preservation planning can help you prepare in advance for Medicaid eligibility. Instead of having to spend down assets to qualify for Medicaid, you can set aside a trust to protect your assets for the benefit of your loved ones.
Personalized Strategies For Preserving Your Legacy
Individuals and families throughout the St. Louis area turn to The Elder & Disability Advocacy Firm of Christine A. Alsop, LLC, for personalized asset preservation strategies. We bring a holistic approach to this nuanced legal area. Our legal team will take the time to learn about your goals and unique circumstances. You will work directly with our lawyers (not paralegals or associates) the entire time.
From the moment you step through our door, we will strive to help you feel comfortable and confident about your plan for the future. A client-centered philosophy guides all we do. You can expect to receive clear, understandable explanations of the law as it applies to your situation, and you can expect personal, responsive service at all times.
Our goal is to give you peace of mind knowing your assets will be secure.
Get In Touch
For more information about asset preservation and Medicaid planning, please contact our office at 314-644-3200. Based in St. Louis, our attorneys serve clients throughout Missouri and Illinois.
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