Medicaid Planning

Although many realize you can make a tax-free gift of $15,000 per calendar year, per recipient without having to report the gift to the IRS, we often find that most are unaware of unintended adverse consequences that could result from that act of generosity since...

As of October 18, 2018, planning to obtain certain Veterans (such as “improved pension” which includes aid and attendance) benefits for non-service connected disability will get much more difficult. Wartime veterans (or their surviving spouse) often get governmental assistance which helps pay for care costs...

The lead attorney for the Texas Health and Human Services Commission announced a major policy clarification on the treatment of retirement accounts as a non-countable resource for long-term care Medicaid eligibility purposes. Since long-term care Medicaid (which helps pay for nursing home care costs and...

Client’s largest resource is her $205,000 homestead which does not count as a resource for “means-tested” long-term Medicaid benefits (provided the Medicaid applicant is single and the equity limit is under $572,000 pursuant to Texas law). Client obtains long-term care Medicaid resulting in the government...

The granddaughter of an elderly California resident was recently sentenced to jail for 17 years for elder abuse after her grandmother was discovered with open wounds and bed sores which resulted in the grandmother’s death due to the granddaughter’s (and daughter’s) neglect. The daughter (who...

As fewer companies offer long-term care insurance since people are living longer (and insurance companies miscalculated increased life expectancy) and fewer policyholders dropped their policies, a new alternative has been developed for those who have poorer health – short-term care insurance. The trend in recent...

An ancestor of client received a Spanish land grant for what is presently client’s homestead with the acreage surrounding it. The property has been passed from generation to generation for almost 200 years (well before Texas became a state). One of client’s ancestors was even...

Several years ago, a local financial advisor recommended that his client (a married man who is retired) invest his entire traditional IRA worth $300,000 in an annuity (within such IRA). The IRA is the largest asset of the client (he and his wife have $80,000...

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