Getting Cash From a Life Insurance Policy If You Are Terminally Ill
Unfortunately, a diagnosis of a terminal illness often comes with many expenses. . .
Read moreWhile most transfers by a Medicaid applicant would make the applicant ineligible for Medicaid benefits for a period of time (called a penalty period), there is an exception if the applicant transfers assets to a disabled child. Transferring the assets directly to your sister, however, could negatively affect her ability to receive disability benefits. Your sister can protect her benefits if she has a special needs trust. These transactions are very complicated and should be handled by an attorney. Here is a directory of attorneys who work in this area of the law: http://specialneedsanswers.com/special-needs-planner
For more information on Medicaid’s asset transfer rules, click here.
Local Elder Law Attorneys in Your City
For information about special needs trusts, click here or visit our sister website, Special Needs Answers.
Unfortunately, a diagnosis of a terminal illness often comes with many expenses. . .
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My mother-in-law has an IRA. She is applying for Medicaid and moving to an assisted living facility. My husband is permane...
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My mother is in a nursing home here in California and is on Medi-Cal (Medicaid). My father...
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