How do I protect my homestead?
Автор: Rainey & Rainey, Attorneys at Law
Загружено: 2020-05-26
Просмотров: 19
Texas is a very property friendly state!
As a rule of thumb, your homestead is protected from most creditors. The top five exceptions include:
Mortgage Companies - you still owe the contracted loan
Home Equity Lenders - you still owe the contracted loan
Taxes (Federal, State, Local) - you still owe taxes tied to the property
Contractor's Liens - you still owe for contracted work
MEDICAID - you could still owe for medical long term care services
We get asked every day if the Medicaid office can seize the house to pay back nursing home care costs. The truth is it can, if you're not careful in protecting your homestead with proper estate planning. The Rainey & Rainey team uses an often over-looked legal tool known as Lady Bird Deeds to help protect homesteads from the probate process. By skipping probate, clients can bypass Medicaid claims - saving their home and peace of mind. The best part, is the homestead limitations are pretty broad so almost every homestead and homeowner can utilize the service.
To find out more information, please visit raineyandrainey.com
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