Elder Law

Specializing in long-term planning, Medicaid planning and other elder law considerations

Elder Law

One aspect of Elder Law includes long-term care planning. What is long-term planning? Long-term care often refers to medical care that you need for a period that extends indefinitely or until your death, and at least beyond the number of days that Medicare may provide.

Generally, there are three ways to cover the (potentially tremendous) cost of your long-term care. Self-pay (cash), long-term care insurance, Medicaid, or a combination of all three. For various reasons, you may discover purchasing long-term care insurance is not possible (you should explore this option sooner rather than later with your insurance advisor).

The term “Medicaid” refers to a number of programs the state of Texas administers, but the particular Medicaid benefit Lance can help you understand and evaluate is the skilled nursing facility benefit (and some benefits available while living in the community—outside of a nursing facility).

Lance can help you evaluate whether Medicaid is your best option. Following a thoughtful review, you can make an informed decision about whether self-pay or Medicaid is better for you. Part of the review includes whether you need a Qualifying Income Trust (QIT)—sometimes referred to as a “Miller” Trust. Such a trust may or may not apply to your situation.

You may have heard or read about using an Enhanced Life Estate Deed (sometimes referred to as a “Lady Bird Deed”). Lance can help you understand how this type of deed benefits the beneficiaries of your estate (and avoids Medicaid Estate Recovery upon death).

Lance can help you navigate the complex regulations, rules, and policies of Medicaid.

If you are ready to explore Long-Term Care, contact Arthur McLain PLLC.