Does Medicaid Count a 529 Plan As an Available Asset?
My mother established a qualified 529 College Savings program for her two grandchildren. She has terminal brain cancer but...
Read moreGenerally, Medicaid treats rental income as income. Also, the property will probably be excluded as a countable asset if it is a business property that is essential for self-support. However, you should check with your local Medicaid agency because some offices may treat rental property differently from others. The more difficult problem may be getting Medicaid to cover the nursing home for a single month. The system is cumbersome and set up for long-term placements. That’s another issue you can check on with the local Medicaid agency.
Local Elder Law Attorneys in Ashburn, VA
Susan Pollack served as Chairperson of the Falls Church Senior Citizens Commission from 1997 to 2011 and was on the Executive Board of the Falls Church Education Foundation. She has also served on the Board of Directors of the Alzheimer’s Association of the National Capital Area and is a member of the Arlington B...
Daniel N. Steven is an attorney licensed in Maryland and the District of Columbia. with many years of experience in complex estate planning and Elder Law. He is rated by Martindale-Hubbell as an AV Preeminent 5.0 out of 5 rated attorney.
In practice since 1987, Fairfax Attorney Evan Farr is widely recognized as one of the leading Elder Law, Estate Planning, and Specials Needs attorneys in Virginia and one of foremost experts in the Country in the field of Medicaid Asset Protection and related Trusts. Evan Farr has been quoted or cited as an expert by n...
My mother established a qualified 529 College Savings program for her two grandchildren. She has terminal brain cancer but...
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Are Uniform Transfers to Minors Act (UTMA) accounts that are owned by a child counted by Medicaid towards a grandfather's...
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The basic Medicaid rule for nursing home residents is that they must pay all of their income, minus certain deductions, to...
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Taking on the job of executor or trustee is not a role to be taken lightly. I...
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