Recently, I’ve noticed a few clients preferring to prepare an estate plan without informing their adult children. They have the desire to plan for the distribution of their estate after their death and to make sure someone they trust has the authority to make important health and financial decisions when an illness or disability prevents […]
In some states (Texas being one of them), when the income of an applicant for Medicaid exceeds the monthly limit a special type of document is necessary to meet income eligibility rules. Known as “income cap” states, they cap monthly income to $2,742 (for 2023). In these states, if your income is more than the […]
Whether or not it’s advisable to prepare and submit your own application for Texas Medicaid nursing home benefits turns on several questions: How complicated is the applicant’s financial picture? How well-organized are you? How much time do you have available? How comfortable are you dealing with a government bureaucracy? Can you afford to lose a […]
Most people are not aware of gifts exempt from Medicaid penalty. The common belief is Medicaid rules prohibit making gifts when a family member needs nursing home care. Medicaid gifting rules actually encourages certain transfers. Misunderstanding these rules can financially devastate your family. The annual costs of nursing home care in the Texas metropolitan areas […]
A few months back an article in the Dallas Morning News warned against doing Medicaid planning without professional guidance. As an attorney, it’s no secret I’m going to advise families to seek competent legal advice. I became a lawyer to help people understand their rights under Texas and Fedeal laws. Medicaid laws are some of […]
The Medicaid “look back rule” is a big source of confusion regarding the use of gifting as part of a Medicaid asset protection plan in Texas. The term “look-back period” is Medicaid lingo for the period of time a person’s financial records can be reviewed. This period begins with the date of the application and […]
The phone rang at 3:30 Friday afternoon. A nursing home business office manager who refers business to me from time to time quickly reintroduced herself and said she had a problem she hoped I could help her with. She asked how quickly I could turn around a Miller Trust for one of her residents. “In […]
Question: The health of my widowed 74 year old mom is starting to decline. My sister and I understand mom must have limited assets to qualify for Medicaid. She owns an annuity and bank accounts worth about $100,000. A coworker tells me she can give us each $14,000.00 a year without Medicaid penalty. Is this […]
Thanks to a much improved website, MyMedicare.gov offers a simple-to-use portal for accessing your Medicare information. The site, which is part of the governments site at www.Medicare.gov even allows you to personalize information about your particular benefits. There is no charge for using the site and it’s secure, too. This helpful site allows you to […]