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If you represent creditors, a defendant in your lawsuit that has died, or your client already has judgments against a deceased person, here’s a brief overview of your client’s rights.  First, a person’s death does not end claims against them.  Second, collection rights may be better against the estate than the living debtor, as most […] The post A Debtor Had Died. What Now? appeared first on Pyke & Associates PC.…
Medicaid planning seeks to ensure that your assets provide you quality care while maximizing what you pass on to your heirs.  The probability that you will need long-term care is extraordinarily high: More than half of those turning 65 will need some type of long-term care services in their lifetimes. As life expectancy continues to […] The post Is Medicaid Planning Worth It? appeared first on Pyke & Associates PC.…
I want to talk to you today about a Medicaid qualification issue. Most people are familiar with what they call the “five-year rule” or the “sixty-month look back.” The issue is whether you are disqualified from Medicaid if you’ve given away too much money during the five-year look back. And people think, […] The post Medicaid’s 5 Year Rule is Not a 5 Year Disqualification appeared first on Pyke & Associates PC.…
Most people understand that Medicaid is for the poor, and they may know a family member who lacks assets to pay for a decent nursing home and was put in a “Medicaid facility.”  If you have known someone in such a facility, you probably weren’t impressed with the care. So why would I want to […] The post Does Medicaid Planning Mean I Stay in a Cheap Nursing Home? appeared first on Pyke & Associates PC.…
Guardianship is a strange word that most lawyers are not even familiar with.  That is why to represent someone in a guardianship matter, the attorney has to have a special certification from the State Bar of Texas.  At Pyke & Associates, all of our attorneys have those certifications. Guardianship is the legal process of the […] The post What is the Purpose of Guardianship? appeared first on Pyke & Associates PC.…
If your parent has died and you are entitled to their house, how do you get the deed?  Property is normally transferred by instruments called deeds from one person to the next.  The deeds are all recorded in the County Clerk’s office so that a title examiner can research and find the history of a […] The post How Do I Get the Deed to My Deceased Parent’s House? appeared first on Pyke & Associates PC.…
Estate Tax Planning in a Biden Presidency (part 4) The Biden proposal to eliminate a step-up in basis is radical and dramatic.  Being both radical and dramatic substantially decreases its chance of success in the legislative process, but what are the “step-up” basis rules?  To read about other parts of his proposal, see our prior […] The post What is ‘Step Up’ Basis and Am I Going to Lose It? appeared first on Pyke & Associates PC.…
Estate Tax Planning in a Biden Presidency (part 3) As we have been discussing (see links to part 1 and part 2), those in the “donut hole” (an estate between $6 and $11 million per person or $12 to $22 million per couple), might consider estate tax planning. An obvious question is, can you take […] The post Can I Lock In the Current Estate Tax Exemption? appeared first on Pyke & Associates PC.…