Houston Estate Planning and Elder Law Attorney BlogWhen putting together a thorough Houston estate plan, one important consideration is how care expenses will be paid later in life. This includes long-term care planning, which can be one of the most significant expenses for older Americans. For those with limited assets, Medicaid will typically pay for nursing home expenses. Many people anticipating the […]
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Texas Ladybird Deeds and Medicaid Planning
Claudia “Lady Bird” Johnson is a well-known Texan and regarded by many as one of the first First Ladies of the United States to take an active political role alongside that of the President. However, for Texans, the term Lady Bird can refer to more than the former First Lady, as a “lady bird” deed […]
How Does a Medicaid Annuity Work?
When one spouse needs nursing home care and the other is healthy, there are several approaches that can be taken to securing Medicaid coverage. An elder law estate planning attorney should be contacted, since every situation is different.
How Does Medicaid Treat College Savings Funds?
Saving for grandkids’ college but needing to receive Medicaid is a complicated equation.
Can a Revocable Land Trust Shield Assets from Medicaid?
Control of an asset is a key element, when Medicaid considers an individual’s eligibility. A recent article from nj.com, “What revocable land trusts mean to Medicaid eligibility,” starts with what sounds almost like a warning: it’s not easy to protect or hide assets from Medicaid. A revocable land trust won't help to protect an asset […]
Medicaid Matters—Here’s Why
It is premature for anyone who depends upon either Medicaid or Obamacare to breathe a sigh of life. While recent attempts to repeal Obamacare have failed, both of these programs are being targeted. Medicaid is far more important to more Americans than most people know. It does provide healthcare for the poor, but it also […]
Don’t Dive into Texas Medicaid Without a Full Understanding
People think that Medicaid will solve all financial problems if they or a spouse will need expensive medical care late in life. It's not that simple. Concerns about outliving assets or having all their wealth spent on nursing home care has led many Houstonians in different economic brackets to take steps to qualify for Medicaid […]
Will You Need to Apply for Medicaid?
Applying for Medicaid is not for the faint of heart, and the level of care covered by Medicaid may be far lower than what most middle-class Americans have come to expect.
Medicaid Planning: Estate Planning AND Elder Law Skills Required
Let’s clarify the difference between estate planning and elder law. Estate planning focuses mainly on transferring assets after death, and elder law addresses issues about retirement income issues. In many circumstances, these two practice areas must work together to solve the challenges presented by wealth transfer, taxes, the need for long term care and medical care.
Possible Medicaid Changes Could Lead to Higher Asset Levels
In all states, federal Medicaid law provides special protections for the spouses of Medicaid applicants. But states decide how much the non-institutionalized spouse may keep, within a range. Connecticut's allowance — $23,844 — is the lowest. And legislators are calling for an increase. If this legislation succeeds in reducing the amount of money assigned to […]