Using a Prepaid Funeral Contract to Spend Down Assets for Medicaid
In addition to helping your family after your death, a prepaid funeral contract can be a good way to spend down assets in...
Read moreNeither of your life insurance policies or your income should be a problem. The life insurance policies have no cash value since they are term policies. You may want to transfer ownership into your name. In addition, you will not need to apply your income to your wife’s cost of care once she receives Medicaid coverage. Just her income would go to the facility. And, yes, it’s important that you consult with a local elder law attorney who can advise you on the best planning strategies and local application of the rules. To find one near you, go here: https://www.elderlawanswers.com/USA-elder-law-attorneys.
Local Elder Law Attorneys in Your City
In addition to helping your family after your death, a prepaid funeral contract can be a good way to spend down assets in...
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I am hoping to buy a home and use some of the funds from the equity of my mother's home as down payment My mother would al...
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My father has been married to his second wife for over 20 years. She has dementia and is going into a nursing home. The ho...
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My wife and I jointly own my inherited mineral rights and currently receive less than $2,000 a month in royalty income fro...
Read moreMedicaid Rules, etc