If you want to minimize the potential of your loved ones having to deal with complications after you pass away, you’ll want the help of the estate planning attorneys in Carrollton TX with Christman Ramsey & Foster, PC. There are actually instances where beneficiaries could actually suffer significant financial harm if a plan isn’t very carefully crafted. Our estate planning attorneys in Carrollton TX can make sure this doesn’t happen to your family members.
What Could Possibly Happen?
A lot, actually. Say you don’t get the help of estate planning attorneys and you decide to leave $100,000 to one of your less fortunate relatives, one who is on Medicaid. You could actually keep them from getting their Medicaid benefits. This is just one example of the sad stories our estate planning attorneys hear from time to time. The following is why this could really hurt that family member.
If a Medicaid recipient receives an inheritance, like the one mentioned above, they will have to “spend down” that inheritance. Once they do, and they return to their previous income level, they will once again start receiving benefits. So, basically, your beneficiary really won’t be any better off.
But estate planning attorneys in Carrollton TX can help your beneficiary avoid this situation. At Christman Ramsey & Foster, PC, we can set up a special needs trust. That way, your family member could still retain Medicaid benefits and receive the $100,000 at the same time. There are some instances where the problem mentioned above could remedied through the process of probate, but that’s not always the case. You’ll be trying to help your family member, but you could actually be hurting them instead – even though your intentions are admirable.
Find Out Other Ways We Can Help
There are a lot of ways the estate planning attorneys in Carrollton TX with Christman Ramsey & Foster, PC can help you, in ways you might not have imagined. If you would like more information, just contact us online or give us a call at 972.445.9907.