How Do I Protect My House?

 

Protecting Your Home in Retirement | Westchester County, NY

 

Asset Protection Guidance

Whether facilitating estate planning, retirement planning, long-term care planning or any other form of proactive planning, a main concern of most clients is, "How do I protect the house?" For most families, the residential home represents their most significant asset and symbolizes the legacy of those who have lived in the home for years.

The Law Office of Neil H. Reig offers comprehensive legal assistance targeted to help individuals and families protect their homes from creditors, Medicaid spend-down rules, estate taxation, and other expenses or liabilities. A consultation with Westchester County, New York, estate and elder law planning lawyer Neil H. Reig can provide families with the information they need to make important decisions about protecting their homes in retirement.

Contact a Westchester County, New York, estate and retirement planning attorney at the Law Office of Neil H. Reig to discuss your situation and options. 

Contact Neil H. Reig anytime at 914-242-4800.

 

Sound Counsel From a Skilled Mount Kisco Asset Protection Lawyer

As an experienced Mount Kisco estate planning and elder law attorney, Mr. Reig has helped countless clients in the Westchester County community navigate complex rules and procedures to protect their assets from creditors and meet their financial obligations. After a careful analysis of your financial situation, your estate and retirement planning objectives and special considerations tailored to your situation, Mr. Reig can thoroughly explain applicable laws and help you implement a strategy to protect your home and other assets. He utilizes instruments and strategies such as:

 

Creating revocable living trusts and irrevocable trusts, such as special needs trusts, income-only trusts, marital trusts, credit shelter trusts and other trusts

Utilizing "pooled trusts" to protect your income and/or assets while qualifying for Medicaid home care benefits

Re-titling the deed to the house solely in the name of the healthy spouse

Adding a child's name to the deed

Deeding the remainder interest of the house to a child while preserving a life estate for the parent

Reducing or eliminating equity through home equity lines of credit (HELOCs)

Deeding title to a "child caretaker" so as to avoid a Medicaid penalty

Deeding title to a "disabled individual" or to a supplemental needs trust established on behalf of a disabled individual

Utilizing other estate and elder law planning techniques

Mr. Reig has extensive knowledge in state and federal estate tax laws, gift tax laws, Medicaid eligibility rules and other complex regulations that must be taken into consideration. He thoroughly explains the risks and benefits of the available options, recommends a solution tailored to your needs and the needs of your family, and can help you implement the plan by creating trusts or facilitating other components of your plan.

 

Contact a Westchester County, New York, Estate and Retirement Planning Lawyer

If you want to learn more about planning for retirement, protecting your home in retirement or preserving other assets for future generations, schedule an initial consultation with attorney Reig. Call his estate planning law firm at 914-242-4800 or contact his Westchester County law firm online today.

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