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long term care Tag

26 May

Posted at 11:20h in End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Success Story of the Month

Many who need long-term care would prefer getting that care at home rather than in a skilled nursing facility. However, many are unaware that there is a Medicaid program (Star+Plus Waiver) which pays for a caregiver to come to where the Medicaid recipient lives (i.e.,...

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...

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...

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 Oct

Posted at 10:39h in End of Life Care Planning, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Taxes

The cost of long-term care is great (average is over $7,000/month in Texas). As a result, many apply for long-term care Medicaid for governmental assistance. It is not unusual for us to receive calls after either a facility or applicant has submitted an application and...

03 Oct

Posted at 10:30h in Assisted Living, Divorce, Elder Justice, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Taxes

It is not unusual that a widow or widower or someone who is elderly meets someone later in life and enjoys their companionship and love or simply enjoys traveling together. Living together without being married use to be considered strictly taboo, but the potential financial...

11 Jul

Posted at 11:07h in Assisted Living, Divorce, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Short Term Care, Social Security, Transfer of Death, Trusts

Originally long-term care Medicaid (which often helps pay for care at nursing homes, some assisted living facilities and care at home) was for the indigent. As we are reaching the silver tsunami, the long-term care Medicaid rules for eligibility become more important since most Americans...

03 May

Posted at 17:43h in Asset Protection, Beneficiary, Business, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Trusts

Revocable living trusts are useful in estate planning for many different reasons (avoidance of probate, privacy, quick transition of an on-going business, etc.) but there are only limited situations when they are helpful in planning for long-term care Medicaid which helps pay for nursing home...

12 Jan

Posted at 14:54h in Assisted Living, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Mortgage, Nursing Home, Probate Administration, Taxes

Most Americans do not have adequate long-term care insurance for care at home or in a nursing home. Furthermore, most Americans would like to stay at home as long as possible before nursing home care is required. If one has inadequate income or resources or...

11 Nov

Posted at 21:27h in Disability Benefits, Divorce, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security

(How to keep more for spouse if ill spouse needs to go into nursing home or needs care at home) 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...

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