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

One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Careful planning can help ease the...

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

Medicaid is a public benefits program that provides health insurance to low-income children, seniors, and people with disabilities. In addition, it covers care in a nursing home for those who qualify.

Medicaid 101

A recent Connecticut case highlights the risk to family members of nursing home residents who don't live up to their financial commitments . . . ...