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Assisted Living

18 Aug

Posted at 23:34h in Assisted Living, Disability Benefits, Estate Planning, Guardianship, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Short Term Care, Transfer of Death, Veterans

Even prior to the pandemic, most prefer to stay at home as long as possible if they should need long-term care. The increase in Covid variants has caused renewed and even greater interest for alternativesto care at long-term care facilities and the desire of many to stay at home due to safety concerns....

17 Jun

Posted at 16:10h in Assisted Living, Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Special Needs, Special Needs Trust, Transfer of Death, Trusts

Sole benefits trusts are an exception to the transfer penalty rules for long-term care (i.e., nursing home, some assisted living facilities, etc.) Medicaid. Since most Americans have inadequate or no long-term care insurance and Medicare generally has very limited coverage for skilled care, many seek...

26 May

Posted at 20:27h in 529 plan, Assisted Living, Beneficiary, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Special Needs, Special Needs Trust, Transfer of Death, utma

Usually the most valuable non-countable resource for a long-term care Medicaid recipient (whereby the government helps pay for care costs at a long-term care facility plus medications if the applicant/recipient has less than $2,000 of countable resources) is the homestead. Although there is no equity...

03 Dec

Posted at 15:07h in Assisted Living, Charitable Giving, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Nursing Home, Probate Administration, Retirement, Taxes, Veterans

As year 2020 comes to an end, it is a good year to make gifts for some due to the CARES Act and potential future law changes – unless there is a possibility of applying for certain public benefits within an applicable “lookback period”. Due to...

19 Oct

Posted at 21:25h in Assisted Living, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Transfer of Death

Most Texans have inadequate income and resources or lack long-term care insurance to pay for the cost of long-term care (such as nursing home and assisted living care or care at home). As a result, they often use long-term care Medicaid to help pay for...

29 Jul

Posted at 19:55h in Asset Protection, Assisted Living, Beneficiary, Disability Benefits, Estate Planning, Guardianship, Home Equity, Inheritance, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Transfer of Death

Ladybird Deeds and Transfer on Death Deeds are used to avoid probate (which is the legal process whereby the court determines if a will is valid and assets are distributed according to the will).  These types of deeds are particularly useful to avoid Medicaid Estate Recovery.  If...

30 Jan

Posted at 09:00h in Assisted Living, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Mortgage, Social Security, Taxes, Veterans

As Americans continue to live longer, many have decided to cohabitate with a significant other (rather than marry) due to complications. These can include kids from a prior marriage or relationship or wealth accumulation by one or both parties. From a financial perspective, sometimes it...

21 Jan

Posted at 19:54h in Asset Protection, Assisted Living, Beneficiary, Disability Benefits, Estate Planning, Inheritance, Lady Bird Deed, Long Term Care, Medicaid Planning, Nursing Home, Public Benefits Protection, Social Security, Special Needs, Special Needs Trust, Transfer of Death, Trusts, Veterans

Public benefits can range from payment of expensive drugs (no matter what age) to long-term care costs such as skilled nursing care. There are 40-50 Medicaid programs in Texas in addition to strictly federal public benefits programs such as Supplemental Security Income (SSI), Social Security...

24 Dec

Posted at 15:56h in Assisted Living, Beneficiary, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Mortgage, Nursing Home, Power of Attorney, Probate Administration, Taxes, Transfer of Death

Ladybird Deeds are often used to protect a homestead from a Medicaid estate recovery claim as it avoids probate and are supposed to permit the grantor (the one who signs the deed) to reserve for the grantor’s life, the full possession, benefit and use of...

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