Depending on the state, nursing home residents do not have to sell their homes in order to qualify for Medicaid. ...

Elderlaw 101

Many middle-income people have too much money to qualify for Medicaid but can't afford a pricey long-term care insurance policy. ...

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

You may have heard that transferring assets, or helping someone to transfer assets, to achieve Medicaid eligibility is a crime. Is this true? ...

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 recently transferred assets. 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 and it is simply a promise to repay the amount. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to "lend" assets to...

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.

Elderlaw 101

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.

Elderlaw 101