Elder Law Attorney in Austin, Texas
What do I need to know about elder law and long-term care?
What do I need to know about elder law and long-term care?
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00:04
elder law
00:05
is a broad area but a lot of it has to
00:08
do with medicaid planning so
00:10
when a client it looks like they might
00:12
need to go on medicaid for their
00:15
end-of-life care you have to typically
00:18
spend down your assets until
00:20
you’re down to about two thousand
00:21
dollars with the exception of your home
00:24
and in texas we have a very good
00:27
um i don’t want to call it a loophole
00:29
but that’s essentially what it
00:31
is whereas you can qualify for medicaid
00:34
but keep your home and when you pass
00:36
away
00:37
if you’ve planned ahead you can transfer
00:40
over a half a million dollars of
00:41
equity to your loved ones without having
00:44
to reimburse
00:44
medicaid so that’s that’s one asset is
00:47
medicaid planning
00:48
another one is guardianship if if
00:50
somebody has a
00:52
diminished mental capacity and doesn’t
00:54
need to be managing their finances
00:56
anymore
00:57
the guardianship process is what we do
01:00
in front of a probate judge
01:02
in order to transfer the burden of
01:04
managing somebody’s finances
01:06
to typically one of their family members
01:08
as their guardian
01:10
those are the largest two areas that i
01:12
see as far as elder law care goes
Austin, TX estates planning & probate attorney Kyle Robbins shares what you should know about elder law and long-term care.
