Proposed legislation (the Veterans Pension Protection Act) has been revised to penalize military veterans (or their surviving spouse) if they should dispose of their resources (that could have been used for their maintenance) within three (3) years of applying for VA pension benefits (benefits most...
Under current law, a special needs trust containing the assets of a disabled individual under 65 years of age (the assets in the trust are excluded from being countable as a resource for “means-tested” programs such as Medicaid) must be created by a parent, grandparent,...
Although Texas does not recognize same-sex marriages, here are a few estate planning considerations for same-sex married couples (couples who were legally married in another state) who live in Texas since the U.S. Supreme Court has struck down the Defense of Marriage Act: Federal employees...
Under current law, military veterans who invest in a survivor benefit plan must leave their benefits (an annuity) directly to their beneficiary – even if the beneficiary is disabled. Veterans are not permitted to roll their survivor benefits into a special needs trust (a trust...
When it was announced earlier this year that there would be no federal estate tax for estates under $5.25 million (instead of $1 million due to the “fiscal cliff”), many Americans were relieved as there was the thought that this would be permanent as adjusted...
Governor Perry has just signed a law (to be effective as of September 1, 2013) that allows Medicaid applicants to sell their life insurance policies to life settlement companies and not jeopardize Medicaid benefits provided certain conditions are met. Medicaid is a jointly run state and...
Two weeks ago the U.S. Senate Committee on Veterans’ Affairs held a hearing on Senate Bill 748 which (like its predecessor - Senate Bill 3270) attacks planning for Veterans Aid & Attendance benefits (which are benefits often received by veterans who served during wartime or...
On May 15, 2013, the Social Security Administration (SSA) announced changes to its Program Operations Manual System (POMS) to ensure that legitimate expenditures from special or supplemental needs trust are used for the sole benefit of a disabled beneficiary even if it may impart incidental...
In an apparent attempt to promote saving for higher education, a new rule (Section358.356) has been published in the Texas Administrative Code which now excludes tuition savings programs (such as a prepaid tuition program or higher education savings plan or a qualified tuition program that...
The Texas Senate has approved a bill on long-term and acute care Medicaid to expand managed care services, to provide services at capitulated costs and to re-design functional assessments to more accurately assess patient needs. Some have expressed fears that Medicaid managed care plans would reduce...
