Medicaid Planning

A number of considerations go into how much long-term care insurance any consumer should buy. ...

Elderlaw 101

Medicaid law provides special protections for the spouses of Medicaid applicants to make sure the spouses have the minimum support needed to continue to live in the community.

Elderlaw 101

Under Medicaid law, following the death of the Medicaid recipient a state must attempt to recover from his or her estate whatever benefits it paid for the recipient's care.

Elderlaw 101

The basic Medicaid rule for nursing home residents is that they must pay all of their income, minus certain deductions, to the nursing home.

Elderlaw 101

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). ...

Elderlaw 101

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...

Elderlaw 101

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.

Elderlaw 101

There are a number of different kinds of trusts, but they fall into two basic categories: testamentary and inter vivos.

Elderlaw 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. ...

Elderlaw 101