Many persons who must enter a nursing home or long-term care facility in their later years will come to rely on Medicaid for payment of the great bulk of the expenses. However, the rules for qualifying benefits in Texas and elsewhere require that a person have limited assets that are specified. That fact has resulted in the growth of Medicaid planning, which re-structures the assets so that when the time comes to request benefits, the applicant will be qualified.
There are some general principles of Medicaid planning, but the actual rules differ from state to state and from case to case. It is therefore necessary for the elder family member, and his or her adult children where appropriate, to consult with an elder law attorney prior to making any decisions or taking any planning actions. In such a consultation, you can best learn the applicable property exemptions and any legal options available to protect the assets.