Laws vary on whether a houseboat is a home, if it is protected from creditors or if there can even be any tax benefits. Medicaid, bankruptcy and the Internal Revenue Code all address treatment of houseboats. MEDICAID TREATMENT OF HOUSEBOATS AS HOME: Under long-term care Medicaid...
Public benefits (such as long-term care Medicaid and non-service-connected disability benefits for wartime veterans or his or her surviving spouse) are “means-tested”. In other words, the government looks at your resources when you apply to determine if you are eligible for the government to help...
The Texas Supreme Court has ruled that a Medicaid applicant who purchases a home or an interest in a home after admission into a skilled nursing facility is not excluded as a resource for Medicaid eligibility. On the other hand, the Court suggests if the...
Long-term care Medicaid (the government program that assists in payment of nursing home care and medication) is means-tested. The government looks at an applicant’s assets prior to obtaining eligibility for paying for long-term care. The government (Texas Health and Human Services Commission) also considers income...
As of January 1, 2024, 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 $713,000 ($688,000 in year 2023). Thus, if the home...
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 $2,829 (as of January 1, 2024), the eligibility solution for this particular requirement is the creation...
Earlier this year, the IRS made a revenue ruling whereby assets transferred into an irrevocable trust without certain elements of retained control by the grantor (the one who established the trust) would fail to be entitled to a “step-up” in basis. If an individual has...
Is your head ready to explode with the myriad of legal issues that can spring from your estate planning problems? The case below illustrates the problems and solutions to eliminating the pain and meet the goals of a client. FACTS: 54-year-old disabled, divorced man (“Recipient”) needs...
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.,...
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...
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...
There is good news for those who are on Supplemental Security Income and Medicaid and who were disabled between ages 26 and 46. As of January 1, 2025, those who were disabled prior to ae 46 can establish an ABLE account and the funds will...
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...
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...
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...
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...
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...
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...
What could go wrong when using a general durable power of attorney for an agent to sign a deed (in this case, a Ladybird deed) on behalf of the principal (the one who signed the power of attorney)? Are there additional powers that should be...
A child often relies on his or her parents until adulthood is reached. So, does the child have a duty to support his or her parents if they are no longer able to provide for themselves? The answer may depend on where the child and...
