Texas Medicaid Planning Attorneys
Get the healthcare you need while protecting your finances
For lots of people, Medicaid is a crucial resource for getting healthcare coverage. However, there’s the misperception that Medicaid can only be used if you have very low income.
Getting Medicaid support can be especially beneficial for older adults who need help with long-term care costs. While there are restrictions on Medicaid eligibility, there are useful strategies—ones that don’t involve giving away assets or selling the family home—for getting Medicaid support.
At the law firm of Shann M. Chaudhry Esq., Attorney at Law PLLC, our Texas Medicaid planning attorneys work with you to create a strategy to preserve your assets while helping you qualify for Medicaid.
Our team prioritizes empathy and service in all our client relationships. We listen carefully to our clients’ concerns and preferences and design plans that match their financial and family situations.
If you’re thinking about planning for Medicaid or are receiving long-term care, contact us. Our experienced Texas attorneys can guide you through the process.
What Is Medicaid Planning?
Medicaid planning helps individuals and couples restructure their finances to help them qualify for Medicaid. Long-term care, whether at home or a nursing facility, is expensive. The average cost for a room in a nursing home in Texas is $6,388 per month.
Even adults who have been strong earners throughout their lives can find that restructuring their finances to receive Medicaid support helps cover long-term care costs while also protecting their assets for loved ones.
At SMC ESQ PLLC, our Medicaid estate planning law firm helps seniors plan long-term care. Misconceptions around Medicaid eligibility are common, but we work with you to find the best solutions for your situation and goals.
Why Medicaid planning is important
With Medicaid planning, we help clients qualify for support for long-term care—without spending down or giving away all of their assets.
Many people aren’t familiar with how Medicaid qualification works. A couple may believe they need to sell their home to qualify for Medicaid. However, Medicaid allows for the continued ownership of a home. In fact, selling a house actually creates more cash reserves that may disqualify the couple from Medicaid.
Likewise, seniors often think they need to give away assets to qualify for Medicaid, but giving away large assets can trigger a five-year penalty period. During this time, the couple or individual loses their Medicaid eligibility.
Because Medicaid misunderstandings are so common, we highly recommend working with a Texas Medicaid planning attorney. An attorney with experience and legal knowledge can help you understand your options and navigate the qualification process.
Likewise, seniors often think they need to give away assets to qualify for Medicaid, but giving away large assets can trigger a five-year penalty period. During this time, the couple or individual loses their Medicaid eligibility.
Because Medicaid misunderstandings are so common, we highly recommend working with a Texas Medicaid planning attorney. An attorney with experience and legal knowledge can help you understand your options and navigate the qualification process.
Our approach
At the law firm of Shann M. Chaudhry Esq., Attorney at Law PLLC, our empathetic legal team is committed to providing client-centered service throughout the Medicaid planning process.
We strive to find a balance between helping you understand your options and not overwhelming you with information. We’re committed to making the process manageable from start to finish.
Our practice is founded on values of empathy and service—we’ll listen carefully to your concerns and goals, and communicate clearly and promptly.
How Medicaid planning works
In Texas, a couple may qualify for Medicaid while still:
- Owning a home
- Owning a vehicle
- Having prepaid burial costs
- Continuing to own up to a threshold value of assets, the amount of which changes by year
Although every aspect of the process comes with its own details and nuances, it’s important to remember that Medicaid applicants don’t need to get rid of all their assets to qualify.
In Texas, a couple may qualify for Medicaid while still:
- Owning a home
- Owning a vehicle
- Having prepaid burial costs
- Continuing to own up to a threshold value of assets, the amount of which changes by year
Although every aspect of the process comes with its own details and nuances, it’s important to remember that Medicaid applicants don’t need to get rid of all their assets to qualify.
That said, even with the above exceptions, many people might not qualify for Medicaid because of their income level—even certain levels of Social Security benefits can be too high. This is where the importance of Medicaid planning comes in.
A Medicaid elder law attorney can help walk you through specific Medicaid planning strategies available in Texas, including Miller Trusts and gifting. These strategies can help your Medicaid eligibility—even if your income initially seems too high.
With a Miller Trust, income deposited into your checking account over the monthly threshold is automatically diverted to the trust. Also known as a qualifying income trust, this technique helps preserve your Medicaid eligibility.
For those looking to proactively begin planning for Medicaid, gifting can be an option, too. You can give up to $14,000 per heir per year without crossing the threshold for gift tax on the amount.
However, gifts made during the past five years are considered in your Medicaid application and can delay eligibility. Therefore, they need to be well-timed.
Please note: if you’ve given away assets within the last five years but now need to apply for Medicaid, we can work with you to minimize the penalty.
The Texas Medicaid planning attorneys at SMC ESQ PLLC offer a service-based approach in all aspects of our legal work. We genuinely care about our clients and work hard to support their long-term financial health and well-being.
For those looking to proactively begin planning for Medicaid, gifting can be an option, too. You can give up to $14,000 per heir per year without crossing the threshold for gift tax on the amount.
However, gifts made during the past five years are considered in your Medicaid application and can delay eligibility. Therefore, they need to be well-timed.
Please note: if you’ve given away assets within the last five years but now need to apply for Medicaid, we can work with you to minimize the penalty.
The Texas Medicaid planning attorneys at SMC ESQ PLLC offer a service-based approach in all aspects of our legal work. We genuinely care about our clients and work hard to support their long-term financial health and well-being.
Why use an elder law attorney for Medicaid planning?
Medicaid planning and strategy often seem counterintuitive. For these reasons, it’s common for individuals and couples to make miscalculations that make qualifying for Medicaid harder, not easier.
A Texas elder law attorney can help you create and implement a plan that makes the most sense for your situation. They can help you protect your assets when applying for Medicaid.
Moreover, if you’ve already made financial moves intended to downsize that have ultimately complicated your application process, an elder law attorney can help with that too.
Schedule a Consultation with an Elder Law Attorney in San Antonio
At the law firm of Shann M. Chaudhry Esq., Attorney at Law PLLC, our San Antonio and Austin, Texas legal teams are here to help you with the Medicaid planning process from start to finish. We take pride in offering a communicative and empathetic approach.
Our Texas Medicaid planning attorneys work with you to find the individualized solution that makes the most sense for your financial goals, family members, and long-term care needs.
If you’re thinking about Medicaid planning or are already receiving long-term care and need to restructure your finances to qualify, contact us. Our experienced Texas attorneys can guide you through the process.
Texas Medicaid Planning FAQs
How do I know if I qualify for Medicaid in Texas?
Qualifying for Medicaid is a complex process that considers both your assets—with important exceptions, such as a home and a vehicle—and income.
It’s possible for certain individuals and couples to initially appear as if they wouldn’t be qualified for Medicaid but then ultimately qualify based on restructuring their finances. A Texas Medicaid planning attorney can help with this process.
When do you need an elder law attorney for Medicaid planning?
If you don’t clearly and immediately appear to meet Medicaid asset and income thresholds without divesting of your current assets, then you may need the assistance of an elder law attorney.
Elder law attorneys, sometimes referred to as Medicaid planning attorneys, help clients restructure their finances through trusts and gifting to reliably qualify for Medicaid. Given the high monthly cost of long-term care, Medicaid planning can be an essential resource for many older adults and couples.
At SMC ESQ PLLC, our Texas elder law attorneys can help you create and implement a plan that supports your long-term care and helps preserve your finances.