More Gifting & Medicaid-Related Misconceptions

Speaking of gifting, many people think that they cannot give anything away and receive Medicaid.  

 

Others are under the impression that inheritances are protected if the other spouse goes into a nursing home, or that "protected" assets pursuant to a prenuptial agreement will not be countable if the other goes into a nursing home.

However, these common assumptions are NOT true.

 

The Medicaid rules do provide some exceptions to the disqualification rules and therefore, some asset transfers are not penalized. For information relating to these exceptions, it is important to consult an attorney who is familiar with the laws of Medicaid.

Elder Law Caregiver Series: 5 Additional FAQ

Continuing with our series of posts that relate to planning your approach to elder care, here are five additional questions that are frequently-asked:

• Have I communicated my wishes to my loved ones regarding end of life decisions?
• Do I expect family members to help me as I age?
• What supports are available to help me live independent from my family?
• Will I be able to take care of my own needs without help from other family members or government programs?
• Do I have knowledge about the resources that are available to me to assist with my planning?

Emerging Trends in Elder Law

The challenges of long-term care planning and the complicated nature of Medicaid continue to be among the most-frequent concerns of people we meet. These are the fastest-growing elements of an elder law practice... http://www.curtinlawoffice.com/elder-law.htm