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Sjhuffar Asked July 2020

I live in Texas. What is the spend down amount? I can not have more than how much in cash and assets?

I reside in Texas. What is the amount of income that would qualify for Medicaid? For example my monthly is 3,000. Thanks

Mysteryshopper Jul 2020
Yes, please find someone who is both knowledgeable and trustworthy to guide you on this. I did everything by the book for an elder and there were still gut-wrenching moments of drama where I was made to think that I'd made mistakes with her affairs. It turned out I hadn't made any mistakes (other than possibly getting involved in the first place....), but those moments where my actions/decisions were scrutinized were horrible. Please spare yourself this added stress to what's likely an already difficult situation. Get advice.

maryqesq1 Jul 2020
Please consult an elder law attorney about how to do a spend down. If you do it wrong or give money away , you can lose eligibility. If you have sufficient assets you can create an irrevocable trust and transfer a certain amount of assets per day. Once transferred you can't control the money but it can be spent on your behalf. There are certain purchases that you can make to spend money on. So you can have some assets available for your use after they have taken from your control. MaryQ

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