Elder Law & Medicaid Services

Fort Worth Elder Law And Medicaid Services

Medicaid & Elder Law Services for Fort Worth & Southlake TX –
Understanding the Importance

Confused about Medicaid? You’re not alone! The complexity surrounding this constantly changing area of the law can sometimes feel overwhelming… it doesn’t need to be.

Our law firm offers primary services in caring for the elderly and protecting their assets. If you need Fort Worth elder law and Medicaid services, we’re here to help.

What is Elder Law?

Elder Law plans for elderly and disabled individuals’ complex health care and long-term care needs. Studies show that we stand a 40 percent chance of needing long-term care at least once before we die. Consider that you may need nursing home or senior care residency at some point.

Nursing home care costs can deplete a family’s nest egg. This can reduce the planned inheritance for surviving family members. The primary alternative to privately paying the nursing home is Medicaid.

Medicaid Planning Myths

Many clients mistakenly believe they cannot protect assets from nursing home costs. Fortunately, much of the circulating consumer knowledge is false or misinterpreted. For example, it isn’t always necessary to wait 5 years after gifting assets to become eligible for Medicaid. The answer actually depends upon the specific facts of your case. Our Elder Law and Medicaid Planning services can protect many of your lifetime assets from high nursing home expenses.

Additional important Medicaid information: 3 Reasons Your Medicaid Plan Can’t Wait

Medicaid Asset Protection Strategies

The Deficit Reduction Act increased restrictions on some techniques. However, viable asset protection strategies remain, especially for married couples with one spouse needing long-term care. Techniques include setting up an Irrevocable Living Trust, making gifts to family members, and paying for certain Medicaid expenses.

Whether you are facing long-term care issues yourself or you have a family member who is, we encourage you to call with your questions or ask us for a free report. Be sure to call sooner rather than later because the timing of the decisions families need to make has a dramatic impact on whether or not someone can actually qualify for this type of support.

Elder Law involves planning for the complex health care, long-term care, and other issues facing elderly and disabled individuals and their families. Studies show that we stand a 40 percent chance of needing long-term care at least once before we die. Therefore, everyone should take into account that at some point residency in a nursing home or an assisted living facility may be needed.

However, the substantial cost of nursing home care for an incapacitated person can wipe away a family’s nest egg and the inheritance planned for surviving family members. The primary alternative to privately paying the nursing home is Medicaid.

Learn more about Medicaid in Texas: How an Attorney Can Help When Time is Critical

Fort Worth Elder Law & Medicaid Services: Contact Us

If you or a family member need elder law and Medicaid services, please reach out to our firm. We offer elder law assistance in the Fort Worth, Southlake, and surrounding communities. Please reach out to our Fort Worth estate planning attorney, Brandon McGee. We can be reached by phone at (817) 899-3286 or by filling out our contact form. The McGee Law Firm is here to help you plan for your future so your family is protected.

Free Medicaid/Long-Term Calculator

Income Available for Long-Term Care

  • Total amount of money you earn each month pre-tax. If you are married, include both yours and your spouse’s income.
  • Total amount of money you have left each month on average after you cover your routine expenses. 
  • List the estimated value of your home if you sold it today. If you have multiple properties, include the combined value of all properties. 
  • If you traded your car in today, how much would you receive for it? If you have more than one car, add the value of all cars. 
  • If you’ve pre-paid for funeral arrangements, include the total amount you’ve paid for both you and your spouse. 
  • Looking across all investments like mutual funds, stocks, IRAs, etc, what’s the minimum percent growth or return you expect to receive on them?

Medicaid Calculator

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Thank you for providing this information. We’ll reach out to you to see if you have questions about your estimate or to see if you’d like to have a copy of our Report on Set the Stage for Medicaid Eligibility.

If you went into a nursing home today, we estimate based on your annual rate of return and your total net worth (house and investible assets), that your net worth would need to be at least {{calculation_results}} to cover your annual expenses for a private nursing room without Medicaid help. This estimate is based on an average monthly private room cost of {{ltc_amount}} in the United States Southlake area.
-If you’re covered, congratulations! Work with your estate planning attorney and financial advisor to protect the wealth you’ve been able to build so it can be passed on to your next generation.
-If your net worth isn’t where it needs to be, you’re not alone. We help families of all levels of wealth plan based on their circumstances so they can qualify for Medicaid without losing all their assets every day. This type of planning takes time though and if you wait until it’s too late, we may not be able to help you save much of what you have. Call our office 817-899-3286 to schedule a consultation so we can start your planning today.