Medicaid Tag

26 Jan SUCCESS STORY OF THE MONTH – IT IS BETTER TO GIVE THAN RECEIVE – UNLESS YOU APPLY FOR MEDICAID

Posted at 05:13h in Beneficiary, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Success Story of the Month

Facts: Potential Medicaid applicant for governmental assistance to help pay nursing home costs had limited amount of cash and monthly income and had given away money to a relative who spent the money gifted and could not give anything back. This success story is an illustration of how to...

25 Nov HOME SWEET HOME MEDICAID HOMESTEAD EQUITY (MAXIMUM VALUE) LIMIT INCREASED TO $603,000 FOR 2021

Posted at 17:11h in End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Medicaid Application, Medicaid Planning, Nursing Home, Transfer of Death

As of January 1, 2021, the equity limit for a homestead applicant (who is single) for either the nursing home Medicaid program or “waiver” home care Medicaid program has increased to $603,000. Thus, if the home equity (the difference between the appraised value and any...

17 Nov 2021 MAXIMUM RESOURCE LIMITS FOR SPOUSAL MEDICAID

Posted at 09:00h in Disability Benefits, Divorce, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, 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 such...

19 Oct SUCCESS STORIES OF THE MONTH – SAVING THE HOME FROM PAYBACK TO GOVERNMENT AFTER LONG-TERM CARE MEDICAID RECIPIENT DIES

Posted at 21:25h in Assisted Living, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Transfer of Death

Most Texans have inadequate income and resources or lack long-term care insurance to pay for the cost of long-term care (such as nursing home and assisted living care or care at home). As a result, they often use long-term care Medicaid to help pay for...

31 Aug SUCCESS STORY OF THE MONTH – THE ALMOST SPEND-LESS SPEND-DOWN

Posted at 13:58h in Alzheimer’s, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security, Special Needs, Success Story of the Month

Long term care Medicaid helps pay for long-term care costs such as nursing home care and drug costs. The average cost of care in Texas (exclusive of drug costs) is $6500 per month and most Americans have inadequate income or long-term care insurance to pay for...

17 Aug SUCCESS STORY OF THE MONTH

Posted at 20:24h in Alzheimer’s, Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Trusts, Wills

Husband and wife (“clients”) have 2 adult children. Once child is disabled and the other is a spendthrift (money is spent as soon as it is received). The disabled child is on Medicaid and lives in a facility where the drug costs and the great majority of...

29 Jul LADYBIRD DEEDS – 10 SITUATIONS WHERE IT IS BEST THAT A TRUST RECEIVE PROPERTY INSTEAD OF AN INDIVIDUAL

Posted at 19:55h in Asset Protection, Assisted Living, Beneficiary, Disability Benefits, Estate Planning, Guardianship, Home Equity, Inheritance, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Transfer of Death

Ladybird Deeds and Transfer on Death Deeds are used to avoid probate (which is the legal process whereby the court determines if a will is valid and assets are distributed according to the will). These types of deeds are particularly useful to avoid Medicaid Estate Recovery. If...

21 Jun WILL LADYBIRD DEEDS NEED A VENTILATOR DUE TO COVID-19?

Posted at 14:58h in End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Planning, Medicare, Probate Administration, Transfer of Death, Trusts

As COVID-19 increases pressure on state Medicaid budgets as demands for Medicaid coverage become even greater, states may be inclined to expand Medicaid estate recovery giving the state the right to have a lien against the property (most commonly a homestead) of a Medicaid recipient...

23 May SUCCESS STORY OF THE MONTH – THERE IS ALWAYS “PLAN B”

Posted at 16:22h in End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Mortgage, Social Security, Success Story of the Month

Wife needs long-term care which is very expensive (statewide average is around $6,500 per month). Medicare has very limited coverage and has been utilized to the limits resulting in husband having to private pay with his limited resources which he needs to use to take...

16 Mar IRA DISTRIBUTIONS TO BE AVERAGED TO DETERMINE INCOME FOR LONG-TERM CARE MEDICAID

Posted at 16:54h in Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Social Security, Trusts

Although nothing has been officially announced, a reliable source from the Texas Health and Human Services has indicated the state will look at the annual distributions from an IRA and divide that amount by 12 to determine the monthly income for long-term care Medicaid eligibility....