Medicaid Planning

08 Mar SUCCESS STORY OF THE MONTH – GRANDCHILD YELLS “HOORAY” FOR GIFT THAT MEDICAID SAYS IS OK

Posted at 22:05h in 529 plan, Beneficiary, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Success Story of the Month, utma

This is a case where a client took advantage of one of the exceptions to the long-term Medicaid transfer penalty rules to shift the burden of the cost of care to Medicaid while helping fund her grandchild’s college education. Elderly single client (who has limited resources)...

12 Feb SUCCESS STORY OF THE MONTH – SPENDLESS SPENDDOWN

Posted at 21:18h in Divorce, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security, Success Story of the Month

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...

12 Feb STATE POLICY ON EXCLUDING IRAs AS A RESOURCE FOR MEDICAID CLARIFIED (BUT FURTHER CLARITY IS NEEDED)

Posted at 21:12h in 401(k), Assisted Living, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement

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...

12 Feb IRA DISTRIBUTIONS COULD BE DETRIMENTAL TO RECEIVING VETERANS PENSION BENEFITS

Posted at 21:05h in Assisted Living, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Retirement, Social Security, Veterans

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...

17 Jan EXCEPTIONS TO MEDICAID ESTATE RECOVERY IN TEXAS – HOW TO PROTECT YOUR HOME, CAR AND OTHER ASSETS FROM REPAYMENT OF LONG-TERM CARE EXPENSES

Posted at 14:37h in Asset Protection, Beneficiary, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Transfer of Death

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...

16 Jan MEDICAID BIRD BOX TEN COMMON MISTAKES WHEN APPLYING FOR LONG-TERM CARE MEDICAID

Posted at 16:26h in Business, Disability Benefits, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security, Transfer of Death

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...

16 Jan SUCCESS STORY OF THE MONTH – IRREVOCABLE ‡ UNCHANGEABLE

Posted at 16:14h in Beneficiary, End of Life Care Planning, Estate Planning, Lawsuits, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Success Story of the Month, Trusts

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...

13 Dec VETERANS BENEFITS INCREASE ANNOUNCED

Posted at 19:14h in Assisted Living, Disability Benefits, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security, Trusts, Veterans

The Department of Veteran Affairs (VA) has announced its 2019 rate increases for certain non-serviced connected disability wartime military veterans, not dishonorably discharged or their surviving spouses to help pay for care costs ranging from being housebound to long-term care costs. However, since these benefits...

13 Dec SUCCESS STORY OF THE MONTH – HOODWINKED ELDERLY CLIENT SALVAGES MEDICAID

Posted at 19:10h in Beneficiary, Estate Planning, Guardianship, Long Term Care, Medicaid Application, Medicaid Planning, Nursing Home, Probate Administration, Success Story of the Month

An elderly client, whose husband lives in a skilled nursing home due to his lack of mental capacity, retains us to apply for long-term Medicaid for her husband so that the government will help pay for his cost of care. However, to be eligible for...

13 Dec NURSING HOME MEDICAID INCOME CAP TO RISE

Posted at 19:06h in Divorce, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Nursing Home, Social Security, Trusts

As many of you know, Texas is an income cap state in connection with long-term care (most commonly used for nursing home care) Medicaid eligibility. Presently, if an applicant for nursing home Medicaid has “countable” income (certain income is exempt or excluded) over $2,250 per...