Medicaid Planning Strategies

A promissory note is normally given in return for a loan. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to "lend" assets to their children and still maintain Medicaid eligibility.

Medicaid 101

Immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse. ...

Medicaid 101

There are a number of different kinds of trusts, but they fall into two basic categories: testamentary and inter vivos. One goes into effect while you’re alive and the other only after death. Which do you need?...

Elderlaw 101

With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meeting the Medicaid asset limit. The problem with transferring assets is no longer controlling them.

Medicaid 101

Medicaid has strict asset rules that compel many applicants to spend down their assets before qualifying for coverage. It’s important to know what you can spend your money on without endangering Medicaid eligibility.

Medicaid 101

Transferring assets to qualify for Medicaid can make you ineligible for benefits for a period of time. Before making any transfers, you need to be aware of the consequences of transfers made during a lookback period.

Medicaid 101

Did you know you could be responsible for your parents' unpaid health care bills? More than half of all states currently have laws making adult children financially responsible, but it’s rarely enforced.

Medicaid 101

For most people, receiving an inheritance is something good, but for a nursing home resident on Medicaid, an inheritance may disqualify them from the benefits that pay for their long-term care services.

Medicaid 101

In 2002, the U.S. Supreme Court issued a decision allowing states to use what is known as the "income-first" rule. Because of this decision, depending on the state, a community spouse of a Medicaid recipient could quickly be thrown into poverty...

Medicaid 101