transfer penalty Archives | Estate Planning and Elder Law Attorney

Is it Too Late for Medicaid Eligibility Planning Once Someone is Already in a Nursing Home?

In this Elder Law Minute, Wes Coulson, Illinois and Missouri Elder Law attorney, debunks the common myth that it is too late to engage in any Medicaid eligibility planning once somebody is already in a nursing home. ? Is it Too Late for Medicaid Eligibility Planning Once Someone is Already in a Nursing Home? Transcript: […]

Major Changes to VA Eligibility Rules: Pitfalls to Avoid

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, continues with the four-part series, Changes to VA Eligibility Rules, and discusses some of the pitfalls to avoid when applying for VA pension benefits, especially Aid and Attendance. Major Changes to VA Eligibility Rules: Pitfalls to Avoid Transcript: Hi, I’m Wes Coulson from Dent-Coulson […]

Major Changes to VA Eligibility Rules: Look-Back and Penalties

In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, continues with the four-part series, Changes to VA Eligibility Rules, and discusses the biggest change which is the imposition of transfer penalties with a look-back period. ? Major Changes to VA Eligibility Rules: Look-Back and Penalties Transcript: Hi, I’m Wes Coulson from Dent-Coulson Elder […]

Are Birthday And Holiday Gifts Included In The Medicaid 5-Year Look Back?

If you’ve looked into Medicaid eligibility at all, you are probably aware there is something called a look-back period, which basically says that gifts and other transfers of assets for less than fair-market value that are made within five years before someone applies for Medicaid will cause a transfer penalty, which can cause a delay […]

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 […]