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Asset Preservation Planning Series

Having an Asset Preservation Plan in place will help protect your life savings from the potentially devastating costs of long-term care. 

Is Asset Preservation Planning Legal?…

Wes Coulson discusses Asset Preservation Planning and offers assurance of its legality as a means to protect assets from long-term care costs. l Coulson Elder Law

Asset preservation planning is helpful for protecting your property and life savings from the potentially devastating cost of long-term care. With life expectancies increasing, the chance of needing long-term care later in life growing, the cost of long-term care increasing, and establishing … [Read More...]

Is Asset Preservation Planning Moral?…

Having an asset preservation plan in place can protect your property and life savings from long-term care costs. But, is asset preservation planning moral? | Coulson Elder Law

Having an asset preservation plan in place can give you the peace of mind that you are protecting your property and life savings from long-term care costs. Last week, we discussed whether or not asset preservation planning was legal and while we came to terms with the legality of asset preservation … [Read More...]

Retirement Income vs. Long-Term Care Costs: A History Lesson…

Wes Coulson explains the best way to assess this risk is by looking at our retirement income in relation to how much long-term care costs rise as we age. | Coulson Elder Law

“Okay, here’s my retirement income and here’s how much it would cost to go into a nursing home." It is easy to underestimate the need to plan when you are younger for long-term care costs when you are older. Many people look at their retirement income in relation to long-term care costs when they … [Read More...]

Can a Family Member Serve as a Trustee?…

Wes Coulson discusses the misconception of trustees and whether or not you should name a family member as the trustee for your asset preservation trust.

If you are setting up an Asset Preservation Trust to protect your life savings from long-term care costs, you will need to have a trustee. Now, the word "trustee" may conjure up a negative image of a sinister character in some people's minds, however, that just isn't the case. Snidely Whiplash is … [Read More...]

Will I have to pay gift tax when I put assets into an asset preservation trust?…

Wes Coulson, IL and MO elder law attorney, explains why putting assets into an asset preservation trust will not trigger a gift tax liability. l Coulson Elder Law

One of the questions that we often get when we talk about the details of asset preservation trusts is whether or not putting your assets into one, to protect your life savings from long-term care costs, will require you to pay gift tax on it. When people think about gift taxes, they usually just … [Read More...]

Do I Have to Cash In My Investments to Put Them In an Asset Preservation Trust?…

Wes Coulson, Illinois Elder Law Attorney, discusses Asset Preservation Trusts and explains how investments are handled when placed into these trusts. l Coulson Elder Law

The main vehicle we use to help people protect their assets, including investments such as stocks, bonds, mutual funds and CDs, from long-term care costs is called an Asset Preservation Trust. Sometimes, however, when people hear “putting assets into a trust” it leads them to an unfortunate … [Read More...]

What Will Happen to the Assets That I Transfer Into an Asset Preservation Trust?…

Wes Coulson continues the Asset Preservation Planning series and discusses what happens to the assets that are transferred into an Asset Preservation Trust. l Coulson Elder Law

If you’ve watched some of our other videos, or looked around our website, you’ll know that for most people the best way to protect their assets from long-term care costs is to put them into a special kind of trust that we call an Asset Preservation Trust. Think of it as putting things into a safe to … [Read More...]

How Can I Protect My Residence From Long-Term Care Costs?…

Wes Coulson discusses Asset Preservation Planning and answers the question, "How can I protect my residence from being lost to long-term care costs?" l Coulson Elder Law

For most people their residence is far and away their single most valuable asset. So, it's no doubt that one of the most pressing questions we get during Asset Preservation Planning is: “Well, if I am facing nursing home placement, how can I protect my residence from being lost to the cost of my … [Read More...]

IRAs and Asset Preservation Planning…

Wes Coulson continues with the Asset Preservation Planning series & discusses IRAs and the importance of looking ahead when developing a withdrawal strategy l Coulson Elder Law

When it comes to IRAs, it seems the strategy people most opt-in for is to withdraw the minimum required amount in order to defer paying taxes for as long as possible. Unfortunately, while this strategy seemingly saves tax dollars now, it may ultimately cost more in tax dollars later when they decide … [Read More...]

What if I put my life savings into an Asset Preservation Trust and then I need some back later?…

Wes Coulson discusses Asset Preservation Planning and dispels the main concern people have about putting their life savings into an Asset Preservation Trust l Coulson Elder Law

Having an Asset Preservation Plan in place will help protect your life savings from the potentially devastating costs of long-term care. As you may know from some of our other videos, the key to the planning is transferring the ownership of assets into a trust that is set up so that legally those … [Read More...]

How An Asset Preservation Trust Protects Your Life Savings From Long-Term Care Costs…

Wes Coulson discusses Asset Preservation Planning and explains how an Asset Preservation Trust protects your life savings from long-term care costs. l Coulson Elder Law

An Asset Preservation Trust is a special trust we use in Asset Preservation Planning to protect assets that could be lost to the financially devastating costs of long-term care. Basically, how it works is that ownership of the assets transferred into the trust is no longer considered yours, … [Read More...]

Would the Trustee of an Asset Preservation Trust Have A Lot of Responsibilities to Attend to?…

Wes Coulson explains the role a trustee has with an Asset Preservation Trust and offers reassurance that the responsibilities aren't that difficult for a family member to handle.

A trust has to have a trustee, somebody who is in charge of managing the assets in the trust, and with an Asset Preservation Trust, you can’t be your own trustee. One of the questions we often get during Asset Preservation Planning is, "Will the trustee have a lot of responsibilities to attend … [Read More...]

What Happens to Assets in an Asset Preservation Trust?…

Wes Coulson explains what happens to the money and investments that are placed in an Asset Preservation Trust. | Coulson Elder Law

There are a couple of common misconceptions as to what happens to assets when placed in an Asset Preservation Trust to protect them. The first misconception is believing the attorney will take control of the assets and the second misconception is believing all assets have to now be invested in one … [Read More...]

Does Gift Tax Affect Me?…

In this Elder Law Minute, Wes Coulson discusses another topic from the video series Asset Preservation Planning and explains the gift tax limits. | Coulson Elder Law

One of the cornerstones of asset preservation planning is getting assets out of your name and out of harms way, which often leads to the question, "Will I have to pay gift tax?" This is a valid question. As part of the planning, assets may be moved into a trust, which is a great way of protecting … [Read More...]

Are We Old Enough to Need to Worry About Long-Term Care Costs?…

Wes Coulson discusses long-term care costs and at what age someone should consider asset preservation planning to protect their life savings. | Coulson Elder Law

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, discusses long-term care costs and at what age someone should consider asset preservation planning to protect their life savings from these potentially devastating costs. ? Are We Old Enough to Need to Worry About … [Read More...]

Does Someone With Long-Term Care Insurance Need An Asset Preservation Plan?…

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, explains why people with long-term care insurance will still benefit from having an asset preservation plan in place to help protect their life savings from the potentially devastating high costs of long-term care. | Coulson Elder Law

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, explains why people with long-term care insurance will still benefit from having an asset preservation plan in place to help protect their life savings from the potentially devastating high costs of long-term … [Read More...]

“We aren’t interested in inheriting anything, we just want to make sure Mom is well-cared for”…

In this Elder Law Minute, Wes Coulson, Illinois and Missouri Elder Law attorney, discusses how people can set money aside to be able to assure that their loved one is going to receive the best quality of care throughout the rest of their life through Asset Preservation Planning. | Coulson Elder Law

In this Elder Law Minute, Wes Coulson, Illinois and Missouri Elder Law attorney, discusses how people can set money aside to be able to assure that their loved one is going to receive the best quality of care throughout the rest of their life through Asset Preservation Planning. ? Asset … [Read More...]


"Your Trusted Advisor on the Elder Care Journey"

Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer's Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Coulson Elder Law, our clients' well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.

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