Business Law:

2013 is a good year to buy a business. What is the first thing you do when you want to buy a business? Due diligence. Due diligence is defined by Webster's Dictionary as research and analysis of a company or organization done in preparation for a business transaction. Some people, like Mit Romney, are in the business of buying and selling businesses. These people know what questions to ask. We like to help the rest of you who are buying a business for the first time.

Due diligence for a prospective business purchase looks at:

• Corporate structure;
  
• Financial statements, profit & loss reports, debts and assets;
• Employment problems and possibilities;
  
• Litigation;
  
• Regulation;
  
• Intellectual property;
  
• Real estate and leases;
  
• Marketing resources
  

Call us at 210-320-8800 for the due diligence team that will help you make a good decision on your business purchase.

Elder Law:

The rules for nursing home Medicaid have changed. Now, the income limit for a single person to qualify for Medicaid long term care is $2,130.00. The income limit for a married couple to receive Medicaid benefits to pay for nursing home care is $4,260.00. The community spouse (healthy spouse) may keep at least $23,184.00 if his or her spouse is entering the nursing home. The maximum protected resource amount a healthy spouse may keep is $115,920.00. Medicaid rules allow a healthy spouse to keep more than just savings. Nursing home Medicaid also allows the healthy spouse to keep some of the institutionalized spouse’s income. The spousal monthly allowance for 2013 is $2,898.00.

You need a second opinion if someone has told you that you must be broke to qualify for Medicaid. You need a second opinion if someone has told you that you will lose the house if you apply for Medicaid. The only people that lose their house to Medicaid Estate Recovery are people who don’t like lawyers.

Call us at 210-320-8800 to find out how you can qualify for Medicaid.