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Medicaid Planning

Medicaid's Asset Rules

In order to be eligible for Medicaid benefits a nursing home resident may have no more than $2,000 in "countable" assets (the figure may be somewhat higher in some states). ...

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Elderlaw 101

Medicaid's Asset Transfer Rules

In order to be eligible for Medicaid, you cannot have transferred assets recently. Congress does not want you to move into a nursing home on Monday, give all your money to your children (or whomever) on Tuesday, and qualify for...

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Elderlaw 101

Promissory Notes and Medicaid

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.

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Elderlaw 101

Annuities and Medicaid Planning

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. ...

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Elderlaw 101

Spending Down Assets to Qualify for Medicaid

Medicaid has strict asset rules that compel many applicants to "spend down" their assets before they can qualify for coverage. It is important to know what you can spend your money on without endangering Medicaid eligibility.

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Elderlaw 101

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Medicaid Rules, etc

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