As a follow up to last month’s Dallas Morning News article by Pamela Yip entitled “Maintaining Trust”, we thought those who receive our email might be interested in the questions that she asked and a more detailed explanation as follows: Q: Do you have the right...
As a result of a generous grant by the WW Caruth, Jr. Foundation - Communities Foundation of Texas in an effort to protect the financial safety of Dallas County seniors, today there was an announcement of the formation of the Elder Financial Safety Center (the...
The U.S. Tax Court recently ruled that a taxpayer can only rollover (within 60 days) one IRA per year, per taxpayer – contrary to IRS publication 590 which allowed one 60 day rollover per year; per IRA – so, prior to the ruling if a...
The Government Accountability Office (GAO) is in the final stages of researching and writing a report on financial eligibility for long-term care Medicaid. Senators Richard Burr (R-N.C.) and Tom Coburn (R-OK) and Representatives Trey Gowdy (R-S.C.) and Darrell Issa (R-CA) requested the study. The GAO...
Due to partisan politics in an election year, Senate Bill 1982 has failed. The bill which was designed to make numerous improvements to services for Veterans but would have also introduced a “look-back” period and penalties for transfers commonly used in planning for Veterans benefits...
Although most first think only of “means-tested” (assets and income) eligibility for various Medicaid programs, one of the other requirements is a “medical necessity”. The standard for nursing home Medicaid, Community Based Alternative (a Medicaid program which provides personal care services at home and in...
A Texas appeals court has upheld the conviction of an agent under a power of attorney who transferred funds to himself, supposedly to qualify his former grandmother-in-law for Medicaid. In an earlier proceeding, a jury sentenced the agent to 25 years in prison. Natho v....
Although the government agreed to settle a lawsuit (Jimnov v. Sebelius) in early 2013 whereby the government agreed that Medicare has been incorrect in requiring a patient to progress or improve to get skilled nursing services, home health and out-patient therapy covered by Medicare, the...
As of January 1, 2014 here are a few of the important changes resulting from the implementation of the Affordable Care Act (“ACA”). You cannot be denied insurance coverage due to a pre-existing condition. This has resulted in the elimination of the Texas Health Insurance...
The Social Security Administration (SSA) has issued new policy interpretations in 2014 that affect Special Needs Trusts (trusts created for a disabled person in which the assets held in the trusts are not counted as a resource which would have otherwise resulted in the loss...