Archive for the Asset Protection Category

What is Medicaid?

Medicaid is a Federally funded government assistance program for low income individuals and individuals of lesser means.  Medicaid is intended to pay for the long term care for individuals who do not have the assets to pay for the care themselves.  As you can imagine, the Medicaid […]

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Gifting Without Medicaid Ineligibility

Many people believe gifting automatically causes a period of Medicaid ineligibility. However, you can make small gifts of $500 (total) each calendar month without causing a day of ineligibility for receipt of Medicaid in the nursing home setting. This will result in $6000 of additional annual penalty […]

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Trust Protector Can Provide Client Comfort

We use Irrevocable Medicaid Asset Protection Trusts extensively when working with clients to protect their assets from long term nursing home spending. In handling Nursing Home Asset Protection Planning, we confront client concerns about loss of control. In order to soothe the fears of lost control, clients […]

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