The Medicaid transfer penalty is the most common issue we deal with when we submit an application for Medicaid nursing home benefits.
Question: Do you know someone who MIGHT have to consider a nursing home placement and a Medicaid application within the next 5 years?
Next … Continue Reading
Does your power of attorney have all the muscle that it needs? A flabby, wimpy power of attorney can be dangerous because it may lull you into a false sense of security and leave you susceptible to getting smacked when you thought you were protected.
Or is your power of … Continue Reading
In the last article, we looked at the general characteristics of various ways of owning real property, namely: fee simple, tenancy in common, joint tenancy with rights of survivorship, and life estates. I have “hotlinked” each property type so you can go back for a … Continue Reading
Understanding different ways of owning real estate is important because the way real property is titled influences Medicaid results, taxes, and probate avoidance. You may need to lockdown Medicaid, and you certainly don’t want to lose your house and land in the process. And, of … Continue Reading
Selling an appreciated asset or cashing-in/drawing down an IRA or an annuity are often necessary in a Medicaid context. An individual or couple looking at nursing placement may have no choice. It may be necessary to get the person going to the nursing home under $2,000 of … Continue Reading