Medicaid Planning

15 Jul DEAD MONEY – HOW CAN GOVERNMENT COLLECT $1.4 BILLION FROM STIMULUS CHECKS SENT IN ERROR TO THE DECEASED?

Posted at 19:45h in Beneficiary, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Social Security, Transfer of Death

As a result of a rush to stimulate the economy early in the pandemic, the IRS apparently failed to follow its own procedures (established after recovery from the recession in 2008) and sent 1.1 million stimulus checks totaling $1.4 billion to those who are deceased. Now...

21 Jun WILL LADYBIRD DEEDS NEED A VENTILATOR DUE TO COVID-19?

Posted at 14:58h in End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Planning, Medicare, Probate Administration, Transfer of Death, Trusts

As COVID-19 increases pressure on state Medicaid budgets as demands for Medicaid coverage become even greater, states may be inclined to expand Medicaid estate recovery giving the state the right to have a lien against the property (most commonly a homestead) of a Medicaid recipient...

23 May SUCCESS STORY OF THE MONTH – THERE IS ALWAYS “PLAN B”

Posted at 16:22h in End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Mortgage, Social Security, Success Story of the Month

Wife needs long-term care which is very expensive (statewide average is around $6,500 per month). Medicare has very limited coverage and has been utilized to the limits resulting in husband having to private pay with his limited resources which he needs to use to take...

09 Apr 10 KEY PROVISIONS OF CORONAVIRUS LEGISLATION THAT AFFECT SENIORS

Posted at 15:42h in Beneficiary, Charitable Giving, Estate Planning, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Mortgage, Retirement, Social Security

Although we are all affected by the pandemic, the following are just some of the key provisions that impact seniors: Rebates. All U.S. residents with adjusted gross annual income of up to $75,000 ($150,000 if married) who are not a dependent and have a work eligible...

02 Apr $1,200 TAX REBATE CHECKS IMPACT ON PUBLIC BENEFITS

Posted at 15:34h in Estate Planning, Long Term Care, Medicaid Planning, Medicare, Nursing Home, Public Benefits Protection, Social Security

Many Americans will soon be getting $1,200 stimulus checks (which are considered a tax rebate) if they are (1) of working age, (2) not an adult dependent and (3) their income is less than $75,000 ($150,000 if married). Smaller checks will be received by those...

16 Mar IRA DISTRIBUTIONS TO BE AVERAGED TO DETERMINE INCOME FOR LONG-TERM CARE MEDICAID

Posted at 16:54h in Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Social Security, Trusts

Although nothing has been officially announced, a reliable source from the Texas Health and Human Services has indicated the state will look at the annual distributions from an IRA and divide that amount by 12 to determine the monthly income for long-term care Medicaid eligibility....

01 Mar CORONAVIRUS LEGISLATION INCLUDES MEDICARE EXPANSION OF TELEMEDICINE

Posted at 16:39h in Estate Planning, Medicaid Planning, Medicare

President Trump signed Coronavirus (COVID-19) legislation on March 6 permitting expansion of Medicare coverage for telemedicine in outbreak areas to help contain and treat COVID-19. This is particularly important to those at high risk including older people and people of all ages with severe health...

11 Feb TRUMP’S MEDICAID REFORM PILL – CURE OR TOO MANY SIDE EFFECTS?

Posted at 09:00h in Estate Planning, Lawsuits, Medicaid Application, Medicaid Planning, Medicare, Social Security

In an effort to limit federal Medicaid funding, the Trump administration has offered states the option for a Medicaid block grant. Medicaid block grants have been proposed by conservatives for many years. Texas requested a block grant in its last legislative session. Although there are...

09 Feb SUCCESS STORY OF THE MONTH

Posted at 09:00h in Asset Protection, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Planning, Medicare, Nursing Home, Short Term Care, Success Story of the Month, Transfer of Death, Trusts

A married couple owns a homestead located out-of-state held in a trust. They move to Texas to be closer to their children since the wife needs long-term care. They have no long-term care insurance, and their liquid assets and income are insufficient to pay for...

30 Jan 15 QUESTIONS FOR SENIORS TO CONSIDER PRIOR TO SIGNING COHABITATION AGREEMENT

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...