MEDICAID PLANNING

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Most people are somewhat aware that Medicaid can be utilized to pay for nursing home expenses, prescription medications and medical expenses.  However, may people are unfamiliar with how Medicaid works or how one becomes eligible for Medicaid benefits.  Many clients believe that they must spend all of their money before they are eligible.  This is simply not the case.  In fact, it is bad planning. 

By developing a specific MEDICAID STRATEGY, I can help preserve your estate for your children and grandchildren, without jeopardizing your quality of life or your standard of living. 

Several common planning techniques include:

• spending assets for the payment of debts, prepayment of funeral costs, repairs and improvements to home, procurement of a vehicle, procurement of goods and services for my benefit, and other expenditures deemed not to be “divestment” for Medicaid purposes;

• making of gifts of cash, personal property, real property, or other assets;

• selling of personal property, real property, or other assets;

• establishing of “spousal annuity trusts”  for married persons;

• purchasing of commercial “Medicaid annuities”

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