If a man and a woman live together, but are not married, and the woman applies for Medicaid, would the state count the man...Read more
No and Yes. The UTMA account belongs to the child, so it should not be counted as an asset when the grandfather applies for Medicaid benefits. But since the account belongs to the grandchild, any deposit by the grandfather of his own money will be treated as a transfer of assets for purposes of Medicaid eligibility. It's the old saying, "you can’t have your cake and eat it too."
For more information about UTMA accounts, click here.
Local Elder Law Attorneys in Ashburn, VA
Attorney Samantha Simmons Fredieu is an associate at Hale Ball. Ms. Fredieu graduated magna cum laude from Vermont Law School where she was the symposium editor on the Vermont Law Review, a production editor on the Vermont Journal of Environmental Law, and a member of the Moot Court Advisory Board. She has clerked for...
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
Medicaid Rules, etc