The “Nest Egg” Trust: Is It Right For You?

As a firm that works diligently to provide the best possible options for estate and elder-care planning, we often get a lot of familiar questions. Although each individual and family has a unique way to get there, each family desires the same thing: financial security and an estate plan that benefits and protects the people who matter most. Our firm has developed some amazing proprietary methods to make sure that you and your family can prepare in the event that you need long-term care.

Should I Have a Will or a Trust?

A will and a trust are both legal documents used to manage and distribute assets after someone’s death, but they serve different purposes and have different features. A will outlines how a person’s assets will be distributed after they die and names an executor who will be responsible for carrying out the instructions. A trust is an arrangement where a trustee holds and manages assets for the benefit of one or more beneficiaries. The grantor can transfer the ownership to a trustee, who will then manage the assets according to the outlined terms of the trust. In general, trusts are more flexible and private than wills, and they can offer more control over assets and greater tax benefits. However, trusts can also be more complicated to create and maintain than wills.

The “Nest Egg Trust”

Sometimes when we are near the end of our lives, we need to resort to long-term care facilities. The government has created some minor safeguards in an attempt to make it easier for families to afford this type of care, but the expenses can still be unexpected, especially with the cost of living on the rise. There is no guarantee that the money you’ve worked hard for your whole life will cover these expenses in full, and in the end, your children and family members could be left with nothing. 

We developed the “Nest Egg Trust” as a way to make sure that you can get the care you need, without having to spend every penny you’ve earned. An important aspect of maintaining generational wealth is helping your family have a chance at getting ahead financially. Our “Nest Egg Trust” will enable individuals to preserve their assets for their beneficiaries, but still, meet the requirements of Medicaid assistance for long-term care. This plan will transfer your assets into a trust where you are named beneficiary, and your trustees (usually family members) will oversee the use of those funds. This will not only protect you from spending your life savings on necessary care but also has the potential to protect your family’s inheritance.

If you are thinking about an estate plan, there are dozens of options available for you and your family’s needs. At HighPoint Law Offices, PC, we have the experience and dedication to ensure that your estate plan covers all the bases, and work to make it even easier for you to make adjustments within your budget. If you have questions about our “Nest Egg Trust,” or would like to get started on an estate plan, contact us online, or call our office at (215) 997-9773.

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HighPoint Law Offices PC

At HighPoint Law Offices we support individuals, families, and businesses of all backgrounds with estate planning services that address their unique wishes, goals, and challenges.

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