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Medicaid Planning

24 Aug

Posted at 10:59h in Assisted Living, Disability Benefits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Special Needs, Special Needs Trust, Veterans

Proposed legislation (the Veterans Pension Protection Act) has been revised to penalize military veterans (or their surviving spouse) if they should dispose of their resources (that could have been used for their maintenance) within three (3) years of applying for VA pension benefits (benefits most...

21 Aug

Posted at 02:53h in Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Special Needs, Special Needs Trust

Under current law, a special needs trust containing the assets of a disabled individual under 65 years of age (the assets in the trust are excluded from being countable as a resource for “means-tested” programs such as Medicaid) must be created by a parent, grandparent,...

19 Aug

Posted at 06:48h in Estate Planning, Lawsuits, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Public Benefits Protection, Social Security

Although Texas does not recognize same-sex marriages, here are a few estate planning considerations for same-sex married couples (couples who were legally married in another state) who live in Texas since the U.S. Supreme Court has struck down the Defense of Marriage Act: Federal employees...

16 Aug

Posted at 02:48h in Beneficiary, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Special Needs, Special Needs Trust, Veterans

Under current law, military veterans who invest in a survivor benefit plan must leave their benefits (an annuity) directly to their beneficiary – even if the beneficiary is disabled. Veterans are not permitted to roll their survivor benefits into a special needs trust (a trust...

01 Jul

Posted at 19:18h in Assisted Living, Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home

Governor Perry has just signed a law (to be effective as of September 1, 2013) that allows Medicaid applicants to sell their life insurance policies to life settlement companies and not jeopardize Medicaid benefits provided certain conditions are met. Medicaid is a jointly run state and...

24 Jun

Posted at 19:15h in Assisted Living, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Social Security, Trusts, Veterans

Two weeks ago the U.S. Senate Committee on Veterans’ Affairs held a hearing on Senate Bill 748 which (like its predecessor - Senate Bill 3270) attacks planning for Veterans Aid & Attendance benefits (which are benefits often received by veterans who served during wartime or...

06 Jun

Posted at 13:02h in Beneficiary, End of Life Care Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Quality of Life, Social Security, Special Needs, Special Needs Trust, Trusts

On May 15, 2013, the Social Security Administration (SSA) announced changes to its Program Operations Manual System (POMS) to ensure that legitimate expenditures from special or supplemental needs trust are used for the sole benefit of a disabled beneficiary even if it may impart incidental...

30 May

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...

06 Aug

Posted at 08:58h in Assisted Living, Beneficiary, Disability Benefits, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Trusts, Veterans
To assist with the costs of care if their medical expenses are high, wartime veterans or their surviving spouses often apply for non-service connected disability improved pension benefits (commonly referred to as “Aid & Attendance” although that is only a portion of the benefit) assuming all eligibility requirements are met. Various types of annuities are often used in the planning process so that eligibility can be obtained for Veterans Benefits. However, Medicaid benefits are often greater (especially for nursing home care) and the eligibility rules (and planning) are significantly different. On the other hand, VA benefits can be used anywhere (home, assisted living, nursing home, etc.) whereas very few assisted living facilities accept any Medicaid program.
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