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This is probably the number one question I hear on a sometimes daily basis from families that are facing a nursing home issue or that are planning ahead in case a nursing home becomes necessary: “How much assets can we protect, give away, keep?” The question is pretty straightforward, but the answer is not. A…
When your spouse needs nursing home care many people find themselves in a challenging position. You want your spouse to have the best care possible. You also need to protect assets to maintain your own lifestyle on a fixed income. In an attempt to protect assets some families only change the ownership on assets to…
A Texas Revocable Living Trust is a powerful tool. When used properly it can save a family thousands of dollars and many months in probate court. When used incorrectly, a Texas Revocable Trust can cause a lot of problems. A common problem occurs when a family has a loved one entering a Texas nursing home…
This is the first in a series of posts that will examine certain types of assets that families have to deal with when pursuing eligibility for Houston Nursing Home Medicaid benefits. For every asset available to the Houston Medicaid applicant there are two critical questions that you must know the answer to: At first thought,…
This is the first in a series discussing the key terms and principles you will encounter when applying for Texas Medicaid nursing home benefits. We will begin with the SPRA, or Spousal Protected Resource Amount. The Spousal Protected Resource Amount refers to the value of assets the “community spouse” is allowed to keep while the…