Government statistics show that literally hundreds of billions of dollars of uncompensated care is provided by family member caregivers to those with Alzheimer’s. This opens up a great planning opportunity for both Medicaid and VA benefits. It is possible to compensate family member caregivers and not have the payments count as gifts, if done correctly […]
Do Transfers of Assets From One Spouse to the Other Affect Medicaid Eligibility?
One of the most central questions we get from married couples during Medicaid planning is also one of the most misunderstood questions: What is the effect of transfers of assets prior to application from one spouse to another? The common misconception is that married couples believe they can’t transfer assets between each other because of the […]
Life Insurance and Medicaid or VA Benefits Eligibility
“If I have life insurance in place, will I be able to keep it if I apply for Medicaid or VA benefits?” We get this question a lot from people applying for Medicaid or VA benefits eligibility, and the answer is not be as simple as it may seem. In a Medicaid context, in both […]
Do Living Trusts Protect Assets From Medicaid or VA Spend Down?
Living Trusts are valuable estate planning tools, but they don’t do anything to protect your life savings from long-term care costs during the Medicaid or VA spend down process. For that purpose, we need a different type of trust that can work together with your Living Trust called an Asset Preservation Trust. In this Elder […]
Medicaid and Your “Exempt” Residence: What the State Doesn’t Want You to Know
I’m applying for Medicaid, will my residence be exempt? If you look at the rules online, or even if you talk to a caseworker, you will learn that Medicaid rules state that you can have an exempt residence. That is great news for the many homeowners looking to apply for benefits. They can own their […]
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