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Nursing Home

11 Apr

Posted at 13:01h in Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Retirement, Social Security, Success Story of the Month

Recent changes under the Secure Act 2.0 that became effective January 1, 2023 may make a QLAC (Qualified Longevity Annuity Contract) a planning option for long-term care Medicaid which helps pay for nursing care and care at home. A QLAC is an annuity within your retirement...

10 Apr

Posted at 13:08h in Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Short Term Care, Social Security

There are several public benefit programs whereby the government will pay for caregivers to come to where you reside. Many are familiar with Medicare that pays for various therapists after a hospitalization stay, but many are unaware that Medicaid has a couple of programs that...

06 Mar

Posted at 10:57h in Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Social Security, Success Story of the Month, Taxes

Sometimes there is a simple solution for asset preservation when applying for long-term care Medicaid – whether the applicant is either in a nursing home that accepts Medicaid or is living at home.  If eligible for Medicaid, the government will help pay for those care...

31 Jan

Posted at 10:24h in Asset Protection, Beneficiary, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Transfer of Death, Trusts, Wills

There is much debate among Texas attorneys as to whether it is better to have a Last Will and Testament or a Revocable Living Trust in estate planning. The simple answer is that it depends on the facts, your goals, the type of assets, cost...

21 Dec

Posted at 15:37h in Assisted Living, Disability Benefits, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Trusts, Veterans

The Department of Veteran Affairs (VA) has announced in December its 2023 rate increases for certain non-serviced connected disability wartime military veterans, not dishonorably discharged or the surviving spouse of the veteran to help pay for care costs ranging from being housebound to long-term care...

19 Dec

Posted at 15:28h in End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Transfer of Death

As of January 1, 2023, the homestead equity limit for a Medicaid applicant who is not married and who either applies for the nursing home Medicaid program or “waiver” home care Medicaid program will increase to $688,000 ($636,000 in year 2022). Thus, if the home...

07 Dec

Posted at 12:48h in Beneficiary, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Trusts

Applicants for long-term care and Star+ Medicaid must be below an income cap as one of the requirements for eligibility. If the applicant’s income exceeds the income limit of $2,742 (as of January 1, 2023), the eligibility solution for this particular requirement is the creation...

02 Dec

Posted at 12:15h in Disability Benefits, Divorce, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security

As we live longer, there is a greater likelihood of disability and the need for long-term care. However, most Americans have inadequate resources or income for such care and also lack long-term care insurance or similar insurance products. As a result, some elderly and disabled...

03 Nov

Posted at 12:07h in Beneficiary, Disability Benefits, 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, Social Security, Taxes, Transfer of Death

Since long-term care Medicaid (which helps pay for skilled nursing care and medications) is “means-tested” (assets of the applicant are reviewed to determine if there is eligibility for the government to pay), there is a five year “look-back” period as there is a presumption resources...

03 Nov

Posted at 11:57h in Asset Protection, Business, Divorce, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Public Benefits Protection, Social Security

Since the cost of long-term care (i.e., nursing home care or care at home, etc.) is so great (average monthly cost is in excess of $7,000 per month) and since most have inadequate income, resources and/or long-term care insurance to pay for such care, many...

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