Medicaid Planning

How Can Promissory Notes Be Used in Medicaid Planning?

Promissory notes can be a valuable tool in Medicaid planning, as illustrated by a recent federal district court case.

Should You Prepare a Medicaid Application Yourself?

Whether you should prepare and file a Medicaid application by yourself or should hire help depends on answers to the following questions:...

Can Life Insurance Affect Your Medicaid Eligibility?

In order to qualify for Medicaid, you can't have more than $2,000 in assets (in most states). Many people forget about life insurance when calculating their assets, but depending on the type of life insurance and the value of the...

Using an Annuity to Keep the Spouse of a Medicaid Applicant from Becoming Impoverished

When one spouse qualifies for Medicaid to pay for a nursing home stay, the spouse who is at home is often left without many resources.

Court Rules Surviving Spouses of Reverse Mortgage Holders Cannot Lose Homes

A federal court has ruled that banks can’t foreclose on surviving spouses of reverse mortgage holders when the spouses can’t pay off the mortgage. ...

Staying Eligible for Medicaid after the Death of a Spouse

When one member of a couple moves to a nursing home, we expect that spouse will be the first to die, but this isn’t always the case. What happens if a Medicaid recipient's spouse dies first?...

Can an IRA Affect Medicaid Eligibility?

For many Medicaid applicants, individual retirement accounts (IRAs) are one of their biggest assets.

What Is a Miller Trust?

In some states (called "income cap" states), Medicaid applicants who have excess income can qualify for Medicaid only if they put the excess in a special trust, called a "Miller" trust or a "Qualified Income Trust.