http://www.paestateplanners.com/ When people make elder law plans, irrevocable Medicaid trusts are often central to these plans in order to protect their assets from nursing home spending. As elder law and estate planning attorneys, we do not stop there. We also help clients protect their assets with other estate and tax planning benefits such as probate avoidance. Watch this video to learn more.
Probate is the legal process that is necessary when a decedent passes away without naming beneficiaries. When this happens, an executor is appointed to the decedent’s assets where he or she will have to follow the court rules, pay the probate fees, and handle all of the legal responsibilities. Because this can be costly, many people want to avoid probate to save their family time and money. By transferring assets to an irrevocable Medicaid trust, probate avoidance will be accomplished.
Because it is likely that some assets will remain outside of the trust, a knowledgeable attorney can help structure those assets in order to successfully avoid probate. To learn more, contact attorney Doug Kaune at Unruh, Turner, Burke & Frees by calling 610.933.8069 or reaching us online at http://www.paestateplanners.com/contact.cfm.