Blog

Estate Planning After Divorce

Feb 10, 2021

Divorces are often draining – financially and emotionally.  As a result, many do not want to incur more costs or even think about different financial arrangements.  However, anytime there is a significant change in your family (death, divorce, disability, births, etc.), your estate plan should be at least reviewed. Although our list could be much longer, here…

Seven Ways to Avoid Family Fights Over Your Personal Property

Feb 5, 2021

It is not unusual for family members to fight over personal property items of value (sentimental or financial – such as jewelry, guns, art, tools, furniture, silverware and china, etc.).  After famous comedian Robin Williams died, his Will left his homestead to his wife, but there was a lack of clarity as to who was to…

Top 7 Misconceptions about Long-term Care & Medicaid

Jan 27, 2021

There are 109 Medicaid programs (at last count) in Texas – each with their own rules. This article concerns the errors or misconceptions common in one of those programs – long-term care Medicaid (where the government helps pay for care in a nursing home). Seven errors or misconceptions in connection with long-term care Medicaid are…

Ladybird Deed or Transfer on Death (TOD) Deed?

Jan 21, 2021

In a battle of the two most common probate avoidance deeds, it is often (but now always) better in Texas to use a Ladybird Deed (which is an enhanced life estate deed) than a Transfer on Death Deed.  In both types of deeds, the owner of the property retains control during life and the property…

What is a Miller or Qualified Income (QIT) Trust?

Jan 15, 2021

Although “Miller” or “Qualified Income” Trusts have been around for over twenty years (this author has been doing them since first approved in Texas in 1994), it is often surprising how confusing this income trust is to many – including some banks. Several Medicaid programs (i.e., long-term care and home/community-based waiver service programs) have an…

Lilly says Alzheimer’s drug slows clinical decline in mid-stage trial

Jan 11, 2021

(Reuters) – Eli Lilly and Co said on Monday (1/11/2021) a trial of its experimental Alzheimer’s drug donanemab showed it slowed by about a third the rate of decline in a combined measure of cognition and function in early-stage victims of the disease. The drug is an antibody designed to remove clumps of the Alzheimer’s-related…

Medicare Drug Cards May Be Sent Out in January

Dec 29, 2020

President Trump’s plan to send $200 drug-discount cards to Medicare beneficiaries has cleared one hurdle, but it isn’t certain that the administration will have enough time to actually get the cards in the mail.  When Trump announced in September his intention to send out the cards as a campaign promise, the idea sparked controversy both within and outside…

Can You Visit Nursing Home Residents After They are Vaccinated?

Dec 19, 2020

COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may be able to visit, but precautions are still necessary.  The federal government entered into a partnership with CVS and Walgreens…

What Is Critical Illness Insurance and Is It Worth Buying?

Dec 16, 2020

Many employers offer critical illness insurance as part of their benefit package. What is this insurance and is it worth purchasing? You should consider your options before paying for a plan.  While a regular health insurance plan usually offers comprehensive coverage for all types of illnesses, many plans have high deductibles and copays that require…

Who Should Purchase Long-Term Care Insurance?

Dec 10, 2020

Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Long-term care – care in a nursing home or at home — may be paid for in four main ways:  Out-of-pocket. If you have…