Would an Interest-Only Loan Count as a Gift for Medicaid Eligibility Purposes?
I am 66 years old and I live in Florida. I am considering loaning my niece, who is also one of my beneficiaries, $30,000....
Read moreYour mother should be able to keep her jewelry because personal items are not countable against the Medicaid asset limit, similar to clothing and furniture. The fact that her jewelry is more valuable than that owned by most Medicaid beneficiaries shouldn’t make a difference. After all, she does not own the Hope diamond. However, these are general rules and we recommend you talk to someone who knows how the rules are applied in your area to get a more definite answer. To find an elder law attorney near you, go here: https://www.elderlawanswers.com/elder-law-attorneys.
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I am 66 years old and I live in Florida. I am considering loaning my niece, who is also one of my beneficiaries, $30,000....
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In order to qualify for Medicaid, you can't have more than $2,000 in assets (in most states). Many people forget about lif...
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Does Medicaid consider a promissory note an asset? For example, if I sell my house and I carry the contract, does the mort...
Read moreMedicaid Rules, etc