Newsletters

Podcasts

Blog

Call or Text (469) 210-5270

 

long term care Tag

16 Jan

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...

13 Dec

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...

11 Sep

Posted at 15:07h in 401(k), Assisted Living, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement

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...

07 Sep

Posted at 13:00h in Estate Planning, Home Equity, Long Term Care, Medicaid Planning, Nursing Home, Success Story of the Month

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...

31 Jul

Posted at 20:49h in Assisted Living, Disability Benefits, Long Term Care, Medicaid Planning, Nursing Home, Short Term Care

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...

31 Jul

Posted at 20:47h in Asset Protection, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Public Benefits Protection, Retirement, Social Security, Success Story of the Month, Taxes, Veterans

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...

19 Jan

Posted at 09:00h in Assisted Living, Divorce, Long Term Care, Medicaid Application, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security

As many of you know, Texas is an income cap state in connection with long-term care Medicaid eligibility. Presently, if an applicant for nursing home Medicaid has “countable” income (certain income is exempt or excluded) over $2,205 per month, then such applicant is ineligible for...

Skip to content