The Woodlands Medicaid Planning Attorney
The Woodlands Elder Law Attorney – (281) 410-2792
For many people entering their golden years, the cost of assisted living can be intimidating. Medicaid is a government-funded program that provides elders with financial aid, provided that they qualify for the support. It is worth noting that applying for Medicaid incorrectly and being denied could actually trigger a five-year disqualification. For this reason and many more, it is highly advised that you do not attempt to go start Medicaid planning on your own.
If you need help with Medicaid planning in Texas, do not hesitate to contact Dossey & Jones, PLLC and our elder lawyers in The Woodlands. Our firm was founded in 1972 and we have been strengthening our practice and reputation ever since. From discussing your Medicaid needs in detail to exploring legal tools that can be used to your advantage, we want to be the legal team that helps you find the path to a comfortable future.
Start discussing your options today by calling (281) 410-2792.
Protecting Your Assets Through Medicaid Planning
The goal of Medicaid planning is keeping your financial assets shielded from the cost of assisted living, nursing home care, and other costs commonly associated with living as an elderly person. When done properly, important assets can be held or passed along to loved ones, separating them from those that could be used to pay for care. When done hastily or incorrectly, an elder may be surprised to find that liquidating assets or dipping into savings accounts becomes necessary.
The first step in Medicaid planning is asking if you need crisis or proactive planning:
- Crisis planning: When someone is already using life savings or will need to use life savings soon, Medicaid planning is known as “crisis” planning. If you are in such a situation, please take action readily to discover what Medicaid options are available to you. You may be able to qualify, even if you have already lived in a nursing home facility for some time.
- Proactive planning: In an ideal situation, you will only need to use proactive planning, which is another way of saying that you are conducting Medicaid is planning before you absolutely need Medicaid assistance. Many people use proactive planning before they even become incapacitated, preferring to figure out finances well before they intend to retire.
Basic Medicaid Requirements in Texas
Medicaid is not a program solely devoted to helping elders pay for nursing home care. Many different types of people who need frequent medical or living care due to a disability but do not have the means to pay for coverage can use Medicaid. Due to this blanketed necessity, restrictions have been placed on the program to exclude or include individuals.
Some basic requirements – which can differ with time or case-by-case – include:
- 65 years or older, blind, or otherwise disabled
- Resident of Texas status with legal citizenship
- Meet maximum asset and income requirements
Find Out If You Qualify & Get Started
As can be seen in the distinction between crisis and proactive Medicaid planning, the sooner you begin thinking about using Medicaid, the less stress there will be throughout the process. Contact The Woodlands elder law attorneys at our law firm to discuss your options with professionals who genuinely care about your future wellbeing. With our help, you will find that no situation is so dire that Medicaid planning becomes impossible.