Michael Cohen Dallas Elder Lawyer |

26 Aug Medicaid Transfer Planning Option for Great-Grandchildren Faces Elimination

Posted at 08:09h in 529 plan, Beneficiary, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, utma

As previously reported in the May issue of the Texas Elder Law E-Letter, a new Texas law will permit transfers to any 529 (college education fund) for the benefit of children and grandchildren as an exception to the transfer penalty rules (in addition to being...

30 May Medicaid Planning with Tuition Savings Programs Gets Easier

Posted at 13:01h in 529 plan, Beneficiary, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, utma

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...

28 Dec Proposed Texas Rule Excludes Tuition Savings Programs from being a Countable Resource for Medicaid Eligibility

Posted at 08:39h in 529 plan, Beneficiary, Long Term Care, Medicaid Application, Medicare, Michael Cohen Dallas Elder Lawyer, utma

Although irrevocable 529s (for college education) and UTMAs (accounts for minors) are not considered a resource for certain Texas Medicaid programs, the Texas Health and Human Services Commission (which governs Medicaid eligibility in Texas) currently counts resources and income in prepaid tuition programs and higher...