Areas of Practice

Medicaid Planning and Long term care strategy

 

The statistics don’t lie. We're living longer. Nearly 70% of people age 65 and older will need long-term care assistance for in-home care, adult day care, or nursing home care, and one in every three 65-year-olds today will live past age 90. One in seven will live past 95. Because of these longer life expectancies, your chances of needing care will be higher as well, with the average length of care at around 3 years. It is important to develop a strategy for advance planning and asset preservation. The cost of long-term care for an aging person is known by nearly everyone to be prohibitively expensive. That’s one of the main reasons people apply for Medicaid assistance to cover these costs. However, applying for Medicaid is complex and requires specialized planning. If your income is over the financial eligibility limits, it is likely that your application will be denied although a trust document prepared by my office can qualify you. That is why it’s crucial to consult with an experienced Texas Medicaid planning lawyer before you apply. I can help ensure your application documents are correct and many times save you money. Enhanced life estate (Lady Bird) Deed is important if you are worried about Medicaid draining the value of your assets in order to pay for care. Through the use of a lady bird deed in Texas, these fears and uncertainties are quelled.

Estate and Advance Planning documents

 

When it comes to estate planning most people think of a will – an iron-clad document listing all assets and how they will be distributed after your death. That is partially true. A validly drawn and signed will is one of the main tools in estate planning to ensure that your wishes are carried out. However, estate planning has many more components. It is a comprehensive plan that includes documents effective both during and after your lifetime. As one may impact the other, it takes an experienced estate planning attorney to suggest the various planning tools right for you and your financial situation and wishes. Texas law provides a number of ways for individuals to ensure that their wishes are carried out in the event they become incapacitated due to Alzheimer's Disease or other health conditions. Various standard forms can provide instruction to medical professionals and family members who may have to make critical decisions regarding treatment and health care. A Durable Power of Attorney gives another person the authority to make personal and financial decisions on your behalf. A Durable Power of Attorney can cover all aspects of your personal and financial affairs, or may be limited to specific situations and activities.