One of the Estate Planning tools I always recommend to my clients in Texas is a Deed Upon Death. On today, I received a call from a panicked client telling me Medicaid said she needs a Ladybird Trust. After calming her down. I explained to her that she was covered. I'd thrown in the Deed Upon Death at no cost when I drafted her other Estate Planning Documents. So, let me tell you one of the reasons why a Deed Upon Death is an essential estate planning tool. It's a great tool because you don't have to worry about your property getting tied up in probate; and also because we never know what life may throw at us. Sometimes, caring for a loved one involves the use of nursing home or long term care facilities; the cost of which can be quite unbearable. As such, families turn to Medicaid. But did you know, upon the death of a Medicaid recipient, the state will try to recover expenses spent on long-term care through the individual’s estate. This is called estate recovery, and since a Medicaid recipient’s home is generally the largest asset still owned, the state generally tries to recoup funds by making a claim against it. However, a Deed Upon Trust protects one’s home from estate recovery. This is because it allows a person to automatically transfer property upon their death without it going through probate. If one’s home does not go through probate, Medicaid cannot try to collect reimbursement from it. On that note, it is important to mention expanded estate recovery, in which some states apply. In these states, estate recovery is not limited to property that goes through probate. If you are outside of Texas, do not worry; I have some Estate Planning Tools for you. The Transfer on Death Deed is an inexpensive Estate Planning tool; available for only $200. Yes, that is right; only $200. If you have questions or if it is time to "Get Your Death In Order", please feel free to give me a call at 832.409.2589 or send an email to bernitha.jones@probatandfamilylaw.com. #GetYourDeathInOrder
top of page
bottom of page