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So far lwilcox has created 26 blog entries.

Should you give away assets to qualify for Medicaid?

You want to qualify for Medicaid, but your assets go above the predetermined thresholds. What now? One option is to spend-down your estate. You need to eliminate some of the assets you control to get below the threshold. There are numerous ways to do this, but many people simply gift them to family members or [...]

2018-06-30T07:08:22-05:00June 30th, 2018|

What is a Medicaid Spend-Down

If you are a mature Texas resident, or if your parents are getting on in years, you may be concerned about what will happen if you or they eventually need nursing home or other long-term care. Even if you and/or your parents are relatively well-to-do financially, few people can afford the extraordinary costs of long-term [...]

2018-07-02T19:54:01-05:00June 21st, 2018|

Does Your Power of Attorney Still Apply If You Recover?

A medical power of attorney appoints an agent to act on your behalf. For most people, this agent is a direct relative, such as a child. This person can then make decisions when you are not able to do so. For instance, you may suffer a stroke and go into a coma. Doctors need to [...]

2018-06-21T21:36:54-05:00June 21st, 2018|

7 Pieces of Information You’ll Need When Applying for VA Benefits

You are thinking of applying for your VA pension benefits. You have not done it yet, but you believe you are eligible and you want to get the process started. You have also heard other people talk about getting denied for simple reasons and mistakes on their forms. You want to avoid dragging the process [...]

2018-06-21T21:18:58-05:00June 21st, 2018|

Guardianship vs. Power of Attorney: Which is Better?

There are two kinds of powers of attorney: financial power of attorney and medical power of attorney. For example, when a trusted person is granted financial power of attorney, that person can make decisions related to the incapacitated person's bank account, including payment of bills and overseeing matters of investment. With medical power of attorney, [...]

2018-06-18T16:21:56-05:00June 18th, 2018|

Choosing Assisted Living Facilities for Veterans

Elderly veterans who need aid may be able to apply to live in special assisted living facilities. They can rent out entire apartments or rooms in these complexes, and they also have some shared spaces. For instance, while some may have small kitchens in their rooms, others will use a shared dining area. The advantage [...]

2018-06-18T15:48:15-05:00June 18th, 2018|

Are You Prepared for the Cost of Long Term Care?

Are you unsure exactly how much long-term care planning you need to do? Maybe you think it's not that expensive or that you'll easily just pay for it out of pocket. Some people can, but financial experts warn that those people tend to be millionaires. After all, the medical cost for a private room in [...]

2018-06-18T15:26:54-05:00June 18th, 2018|

Can a Trust Keep Assets Away From Creditors?

If you've accumulated considerable assets, you want to do everything legally possible to protect those assets from lawsuits, taxes and creditors both while you're still around and after you are gone. There are a variety of ways to protect your home and other assets, including: Liability insurance Declaration of Homestead Dividing your assets with your [...]

2018-06-18T15:06:31-05:00June 18th, 2018|

95% of Veterans Don’t Know About This VA Benefit

The federal government provides your veterans pension based on your needs as a wartime veteran with a disability. However, the standard VA pension benefits may not actually cover your needs. According to the U.S. Department of Veterans Affairs, you may qualify for a higher monthly pension rate if you meet certain eligibility requirements. If you need assistance with [...]

2018-06-18T15:05:03-05:00June 18th, 2018|