There’s a lot of information floating around about Medicaid, particularly when it comes to paying for nursing home care. Some of the information is reliable, while some is not accurate at all. So, how do you know which information you can trust? Get the facts from a trusted expert, like an experienced and qualified elder law attorney. Below are three myths surrounding Medicaid, along with the corresponding facts: 1) You can simply transfer your assets to your spouse and qualify for … [Read more...] about Medicaid: Separating Fact from Fiction
Long Term Care
Do You Qualify for Veteran’s Aid and Attendance Benefits?
If you’re a disabled veteran who served at least 90 days on active duty (with at least one of those days occurring during wartime, as defined by the Veteran’s Administration), and you were discharged from the military under other than dishonorable conditions, you might qualify for Aid and Attendance (A&A) Benefits. These benefits can help you cover the costs of in-home care or care at an assisted living facility or nursing home. Your disability does not need to be caused by or related to … [Read more...] about Do You Qualify for Veteran’s Aid and Attendance Benefits?
Qualifying for Medicaid: Timing is Everything
If you or your spouse anticipate the need for nursing home care in the future, and particularly if you’re concerned about how you’ll finance that care, you’ll likely want to meet with an elder law attorney sooner rather than later. Given the strict rules that govern Medicaid qualification, the absolute best case scenario is to start planning to qualify for the program at least five years before you actually need apply for benefits. Medicaid imposes a five year “look back” period, which means … [Read more...] about Qualifying for Medicaid: Timing is Everything
Is All Property “Countable” for Medicaid Purposes?
The Medicaid program is one resource available to help cover the high costs of nursing home care. It is a federally-established program designed to help people of limited means gain access to the health care they need. Although the program is established by the federal government, it is administered by the states, and each state has slightly different rules for qualifying for Medicaid. “Countable” vs. “Non-Countable” In order to qualify for Medicaid, an applicant must meet certain income and … [Read more...] about Is All Property “Countable” for Medicaid Purposes?
Q&A: Caregiver Agreements
An increasing number of adult children – more than 2 million here in Texas - are caring for their elderly parents and, while few of them would complain about helping their parents in this way, the costs to these caregivers can be significant. Many caregivers reduce their employment hours and experience pay cuts in addition to expending money out-of-pocket to meet their parents’ needs. On the other side of this scenario are elderly parents who recognize the impact of the services their care … [Read more...] about Q&A: Caregiver Agreements
Advance Planning is Essential for Preserving the Family Farm
How do you ensure that your farm or ranch remains an active operation and stays in the family after you’ve passed away? Perhaps the best way is to have an estate plan, including a succession plan, in place far in advance. It's also important to include your family members in the planning process. What happens without a plan? Simply put, without a plan, the future of your family farm is at risk. For example, as the older generation ages, the need for long-term care becomes an ever-increasing … [Read more...] about Advance Planning is Essential for Preserving the Family Farm
How Will You Pay for Long-Term Care?
Americans are living longer and healthier lives than ever before. And while this is true, it’s also true that more of us than ever before will need some form of long-term care. This fact changes the way we look at both retirement planning and estate planning. There are three main ways to pay for long-term care: Pay out-of-pocket through savings or by selling off assets. This method of paying for care requires advance planning and may have a great effect on the size and type of inheritance … [Read more...] about How Will You Pay for Long-Term Care?
What is Medicaid?
Part of making a comprehensive, effective estate plan is figuring out how best to pay for long-term care, should the need arise, while preserving your savings and other assets for your loved ones. Medicaid is a common option for covering the expense of long-term care, but for many people, qualifying for Medicaid takes some careful planning. So, what exactly is Medicaid? Medicaid is a need-based government health insurance program. It’s federally-established, but it’s administered on the … [Read more...] about What is Medicaid?
Is Your Parents’ Home As Safe As It Could Be?
As your mom and dad age, it may be harder for them to continue to function like they used to. Mobility declines, hearing and eyesight start to fail, and the risk of falling becomes a real worry. But most people want to avoid long-term care and continue to live independently for as long as possible. There are a few simple steps you can take to help your parents remain safe at home for as long as possible: First, take a good look at the lighting throughout the home. Making sure that the … [Read more...] about Is Your Parents’ Home As Safe As It Could Be?
