Happy Holidays!

Our office is now open. We are giving options to meet in person or virtually (phone calls, audio/video meetings, etc.) as we continue to follow CDC guidelines. Our next free virtual “Estate Planning Essentials” workshop will be on Thursday, December 16, 2021 from 1:00 p.m. until 3:00 p.m. Call (214) 720-0102 to register or sign up online at www.dallaselderlawyer.com. Attendees often ask questions about estate planning, probate, Medicaid and Veterans benefits. We proceed to answer the questions over the course of the workshop. Our goal is to make it easy for you to attend from the comfort of wherever you reside.

Applicants for long-term care and Star+ Medicaid must be below an income cap as one of the requirements for eligibility, the solution for this is the creation of a Qualified Income Trust (QIT) formerly known as a Miller Trust.

As of January 1, 2022, you can give up to $16,000 per year, per person without reporting to the IRS and without gift taxation. So, for example, if a married couple with three children wanted to give the maximum to each child, then they could give up to $96,000 ($16,000 x 3 by the husband and $16,000 x 3 by the wife) in year 2022 without reporting to the IRS.

As of January 1, 2022, the homestead equity limit for a Medicaid applicant who is not married and who either applies for the nursing home Medicaid program or “waiver” home care Medicaid program will increase to $636,000.