Houston Estate Planning and Elder Law Attorney Blog
It’s a universal truth that we all get older, and it’s also a universal truth that we can’t be sure what the future holds. For many individuals, aging means finding long-term care. Unfortunately, the cost of elderly care is incredibly expensive in this country, and it is difficult for many clients to piece together enough funds to cover their expenses. In order to avoid this crisis, we recommend that you begin your Medicaid crisis planning as soon as possible, which can help you avoid the need to panic down the road.
Medicaid crisis planning is the process of preparing today for your possible needs down the line. In the future, you might need a fulltime nurse, a nursing home, or other specialized care. By starting to plan now for how you might pay for these services, you can save yourself significant stress in the future.
Medicaid and Public Benefits
In Texas, you can apply for Medicaid, which will cover large portions of the cost of long-term care. Importantly, when deciding if an individual qualifies for Medicaid, the government will look at the past five years of the person’s financial history. Thus, if you have been financially stable but you’ve recently hit a tough spot, or if you are hoping to transfer assets to a loved one in hopes of qualifying for Medicaid, there is still a substantial likelihood that you will not meet the requirements.
At McCulloch & Miller, we recommend looking into Medicaid, as well as other funding options, as soon as possible. Crises happen when we least expect it. To avoid finding yourself in a difficult spot, you should speak with a skilled attorney that can guide you through possible public benefits available to you – by finding out if you apply for benefits, you can then maximize and save your assets in a future crisis situation.
For those who have already encountered an older-life crisis and are in need of funding for their specialty care, one of the primary keys is to not panic. Panicking in this kind of situation can lead to wasted assets, added costs, unnecessary work, a lower quality of care, and the denial of important benefits. Again, the best thing you can do for yourself in this situation is speak with a Houston elder law attorney that can help you figure out what options might be on the table for you.
Do You Have a Houston Elder Law Attorney to Help You Navigate Your Long-Term Care Needs?
At McCulloch & Miller, we recognize that every individual has a different set of goals, needs, and priorities. We take the time and energy to get to know our clients so that we can advise them in the most trustworthy way possible, and our clients know that we have their best interests at heart. If you are in need of an attorney for your long-term care needs, estate plans, tax plans, or elder law issues, contact our team today. We can be reached by at 713-936-9073, or you can fill out our online form to tell us about yourself and have one of our attorneys get back to you as soon as possible.