Comprehensive Estate Planning by Houston Lawyer Saves Time and Money

There are a number of financial considerations that must be taken into account when creating an estate plan or elder care plan. Both involve the reallocation of assets and the use of trust funds to support the needs of a beneficiary.

When determining how to structure a trust or contribute to an income redistribution pool, a number of accounting issues must be considered for lawful tax planning and to avoid impoverishment or the spending down of assets for Medicaid purposes.

At McCulloch & Associates, Thomas W. McCulloch is both an attorney and a CPA. As a result, this also allows him to view and create estate and elder care plans from a comprehensive, holistic perspective. This ultimately saves our clients time and money and allows clients to deal directly with the team who are establishing their trusts, Wills or Medicaid eligibility plans.

If you're planning for your family's financial future or are an adult child of an elderly parent, contact attorney Thomas W. McCulloch today to schedule an appointment and learn how we can help you.

Elder Care, Asset Protection and Medicaid Planning

Many elderly Americans cannot afford to purchase private Long Term Care insurance. As a result, when long term care is necessary, Medicaid is often the only option available. However, in order to qualify for Medicaid, a person must first meet certain income requirements. Usually, this requires an elderly person to spend down his or her assets and become impoverished. In the process, a person often must sell his or her home.

At McCulloch & Associates, we can help people qualify for Medicaid without spending down their assets or losing their homes. Use of a testamentary trust, Grantor Retained Annuity Trust (GRAT) or Personal-Residence Grantor Retained Income Trust (GRIT) can help a person avoid losing his or her home and spending down his or her assets. As an accountant and an attorney, Thomas W. McCulloch can identify ways to help you avoid spending down your assets through various estate planning tools.

Thomas W. McCulloch: Practicing Attorney - Trained as a CPA

Mr. McCulloch has served as the president of the American Association of Attorneys and Certified Public Accountants and is a current Board Director. He chairs the Dual Rights and Ethics Committee and is the Chairman of the Health, Long Term Care and Elder Law Committee as well. As a Certified Public Accountant (CPA) and attorney, Mr. McCulloch is in a unique position to be mindful of the law and financial issues at the same time, creating estate plans that work in the best interests of our clients.

To schedule an appointment and learn how we can put our lawyer-CPA advantage to work for you, contact estate planning attorney Thomas W. McCulloch today.