Husband (the “institutionalized spouse”) enters into a nursing home in November 2018 while his 70 year old wife (the “community spouse”) lives at home. Husband has no long-term care insurance and his income is insufficient to pay for his care (generally at least $5,000 to...
Although there are many still unanswered questions and there has been no written policy since changes were initially announced last August, the Texas Health and Human Services Commission (HHSC) on February 7, 2019 attempted to clarify its new policy regarding treatment of retirement accounts (traditional...
The result of a clinical study entitled “Sprint Mind” seems to demonstrate that intensive treatment to reduce blood pressure (to a consistent systolic pressure of 120 or below) will significantly reduce mild cognitive impairment. Researchers reported a nineteen percent (19%) lower rate of new cases of...
Many wartime veterans or their surviving spouses who become disabled (for reasons other than wartime service) are entitled to a benefit to help pay for costs of care (most commonly if the veteran or their surviving spouse is in an assisted living facility). Although the...
Trusts are often a good tool to achieve one’s estate planning. Although this list is not exhaustive, the following are common things to consider: Protect beneficiaries from lawsuits. If properly drafted, a trust created in your Last Will and Testament or in your own revocable or...
Although certain assets such as a home, car, mineral rights (subject to limitations) and businesses essential for self-support are “non-countable” when applying for long-term care Medicaid, there are numerous exceptions to avoid a successful claim by the State to be paid back for benefits (such...
As the aging population continues to grow, there is more likelihood of disability and a need for long-term care. However, the majority of elderly Americans fail to have long-term care insurance or have adequate assets to be self-insured. As a result, many elderly people rely...
When it comes to estate planning, most immediately think about planning for their death first. However, approximately 30% of Americans will become disabled or incompetent at some time during their lifetime. A Will only becomes effective at your death – not if you are disabled....
On December 31, 2018, the President signed a bill (the “BOLD” Infrastructure for Alzheimer’s Act”) to amend existing law to increase funding by $100 million (see below) for the establishment or support of regional centers to address Alzheimer’s Disease and related dementia by: Advancing awareness of...
Often clients are surprised to learn that their “irrevocable” trust can be changed. There are several ways to make changes to an irrevocable trust including by court order, agreement of all interested parties, decanting (pouring into another trust), or by simply exercising a “power of...
