Successful Planning

Elder law attorneys assist individuals and families in developing estate plans to avoid depleting their assets should they become ill and need long term care. For those individuals who are already in a nursing home, elder law attorneys help them qualify for Medicaid benefits while maximizing the amount of money they are able keep. John met with his Elder Law attorney regarding his father, Dan. John had been living with his father for several years, as his father was unable to live on his own.  […]

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When is the Right Time to do Medicaid Planning?

Our office receives many calls from concerned loved ones and family members wondering if or when they should start Medicaid planning. The answer: It is never too early or too late to discuss the planning options available. Below are just two examples of the many types of calls we get where we advise clients that Medicaid planning is an option right now. Mrs. Brown is an 81-year-old widow experiencing short-term memory loss. She is still able to live alone in her own home. Her monthly […]

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The Basics of Medicaid…or…”What You Can and Cannot Keep”

In order to understand Medicaid qualification, you first need to know how Medicaid treats your assets. Basically, Medicaid breaks your assets down into two separate categories. The first are those assets which are exempt and the second are those assets which are non-exempt or countable. Exempt assets are those which Medicaid will not consider (at least for the time being). Generally the following assets are exempt: The home up to $572,000 in equity. For a married couple, the home must be the principal place of […]

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Medicaid Myths Part 1

Medicaid was considered a complicated Program w when President Lyndon B. Johnson first signed the it into law at Truman Library in Independence, Missouri, and it has grown even more complex during each of the thirty years since. Although it is a national program, it is administered by each state. The rules and regulations are constantly changing and can vary widely from state to state. So, it’s no wonder there are many myths and inaccuracies surrounding the program. This month, we are taking a look […]

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Medicaid Law Changes Enacted

On February 8, 2006, the Deficit Reduction Act of as 2005 was signed by President Bush, thus making major changes in the Medicaid eligibility rules. As with any major legislative initiative, the full ramifications of these changes won’t be known for several months. In the meantime, certain aspects of the bill are clear at this time. The first is that the Medicaid gifting or asset transfer rules have been changed so that the “lookback” period for all asset transfers is now 5 years. This includes […]

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