Livens & Reed, PLLC

Interested in a Ladybird deed?

Do you have a loved one who will likely need long-term care in the years to come? Many Texas residents end up in this position, but they often lack the funds they need to pay for this type of care -- which can cost thousands a month. The state offers something called a Ladybird deed, which may help those needing LTC to afford it.

Typically, when a person goes to apply for Medicaid for long-term care needs, the government can look back five years to see what assets he or she had, or moved, in order to qualify. This means, if LTC planning is not done early enough, one's Medicaid application may be denied. Of course, planning too soon once resulted in people having to leave their homes and live with relatives just to make it look like they lacked assets.

What is a Ladybird deed? This deed allows a person to essentially give his or her home to an heir but retain the right to remain living there until the need for LTC arises. This means that it is an asset that will not count against him or her when applying for Medicaid, but it is not something one has to completely give up prematurely either. This gives people the dignity of being able to remain in their own home up until they really need to be moved to an LTC facility.

Medicaid planning for long-term care needs takes time and some creative thinking. The Ladybird deed is usually just one small part of a bigger plan that will ensure Medicaid eligibility and asset and estate preservation. If you and your loved one are interested in Medicaid planning for potential LTC needs, now is a good time to speak to legal counsel about your options. To learn more about Ladybird deeds and other Medicaid planning strategies available to Texas residents, please take a moment and visit our firm's website.

No Comments

Leave a comment
Comment Information

Schedule A Consultation With An Attorney

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

2516 Harwood Road
Bedford (Fort Worth), Texas 76021

Toll Free: 800-569-2663
Phone: 817-545-3425 (FW)
Fax: 817-545-9847 (FW)
Map & Directions

14131 Midway Road
Suite 1100
Addison (Dallas), Texas 75001

Phone: 972-685-5202
Fax: 972-685-5206
Map & Directions

Livens & Reed, PLLC

Free Initial Consultation | Se Habla Español

Bedford (Fort Worth): 817-545-3425 | Addison (Dallas): 972-685-5202 | Toll-Free: 800-569-2663