Protecting what you’ve spent a lifetime building.
At Simasko Law, we believe that true wealth isn’t just measured in dollars—it’s measured in peace of mind. Our wealth preservation strategies are designed to protect your assets from common risks that seniors face, including long-term care costs, probate, unnecessary taxation, and loss of control due to incapacity.
What is Wealth Preservation?
Wealth preservation is the process of legally structuring your estate so that your assets are shielded from threats like nursing home expenses, court costs, creditors, and family disputes. It’s not just about having a will or a trust—it’s about making sure your financial legacy survives the unexpected.
Why Wealth Preservation Matters in Elder Law
As elder law attorneys, we understand the unique challenges that aging clients face. A traditional estate plan often doesn’t go far enough. That’s why we focus on:
- Medicaid Planning: We help protect your home, savings, and income from being depleted by nursing home costs. Without a plan, you may be forced to “spend down” everything before qualifying for Medicaid. We show you how to avoid that.
- VA Benefits Assistance: Veterans and surviving spouses may be eligible for the Aid & Attendance pension, which can help pay for home care or assisted living. We ensure that you qualify without jeopardizing your other benefits.
- Asset Protection Trusts: We use specialized irrevocable trusts that can remove your assets from your “countable estate” for Medicaid purposes while still allowing you to benefit from them during your lifetime.
- Avoiding Probate: Through tools like Lady Bird deeds, beneficiary designations, and revocable living trusts, we help families avoid costly and time-consuming probate court proceedings.
- Protecting the Next Generation: Without proper planning, your children’s inheritance can be lost to divorce, lawsuits, or poor decisions. We can help protect that legacy with bloodline trusts and other safeguards.
Common Threats to Your Wealth
- $10,000/month nursing home bills.
- Adult children mishandling inheritances.
- Incompetent agents using financial or medical powers of attorney.
- Outdated or DIY estate plans.
- Probate and legal fees that eat away at your estate.
How Simasko Law Can Help
Whether you’re planning ahead or facing a crisis now, Simasko Law can step in and protect what you’ve earned. We provide:
- Flat-fee estate planning packages.
- Crisis Medicaid and VA Aid & Attendance strategies.
- Legal guardianship and conservatorship representation.
- Personalized asset protection strategies for every stage of life.
Schedule Your free consultation Today
Simasko Law Elder Law Attorneys serve the Macomb, Wayne, Oakland, St. Clair, and Sanilac Counties in Michigan.
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