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Even when you or a loved one are faced with nursing home care, there is something you can do to protect your money. One of the biggest myths of Medicaid planning is that nothing can be done if nursing home care is just around the corner. After all, Medicaid has a five year look-back period, […]
Understanding Medicaid Eligibility Provisions and Rules We can design, for you, an IRREVOCABLE TRUST with an INDEPENDENT TRUSTEE that can IMMEDIATELY qualify your MEDICAID ELIGIBILITY. At the end of our design, you will NOT own any assets. Medicaid is an entitlement. So long as individuals meet the legal eligibility provisions, they are ENTITLED to Receive […]
What are the Countable Assets & Non-Countable Assets in Medicaid Spend-Down? I’m certain, that if you are over the age of 65, you have participated in a few seminars, talked to a few people, professionals and otherwise, and informed yourself of the new confiscatory rules of Medicaid, the 60 month look-back, and have become wide […]
This article continues in the examination of cases in which Medicaid annuities are being used. The state continues to argue that this is not an allowed practice and that the spouse in need of Medicaid should be declined benefits. However, the courts are upholding the rulings that the annuities cannot be considered available resources. Three […]
Many states will argue that when a community spouse is the owner of a Medicaid annuity, then that annuity and all income it produces should be deemed as an available resource. The Courts disagree, stating that there is no way for the owner to access the cash in the irrevocable annuity, therefore rendering it an […]
With the increasing need for nursing care among seniors, many people are wondering how they will ever be able to cover the cost of care. Medicaid requires you to spend down assets to almost noting in order to become eligible. It is possible to reposition current assets into a Medicaid compliant annuity. This annuity would […]
Medicaid planning with annuities is an asset protection that many families overlook. In these cases, some people may face critical need situations in which they need to find a way to become eligible for Medicaid immediately. One way to do this is to purchase a Medicaid compliant annuity to deplete countable assets, thus allowing the […]
Protecting your assets in Medicaid planning should involved an irrevocable trust before applying for Medicaid Irrevocable Trusts for Protecting Assets in Medicaid Planning While transferring assets is a great way to protect your assets and gain eligibility for Medicaid, there is a major disadvantage to asset transfers. When you transfer an asset, you basically give […]
Transfer your assets in Medicaid planning to become eligible for Medicaid Transfer of Assets in Medicaid Planning There is a period of non-eligibility for Medicaid for those who have recently transferred assets. The DRA was enacted in 2006. For transfers that were made prior to the enactment, Medicaid officials will only look at any transfers […]