The simple answer: No. In fact, there are couples who together have over $100,000 in assets (not including their home) and qualify for Medicaid without any spend down. How can this be? What about the “division of assets” and “spend down” people are always talking about? Medicaid law is quite complex and everyone’s situation is different. The following example is just one of the many ways in which some of our clients are able to qualify their spouse for Medicaid without spending a penny: Carol’s […]
Tag Archives: Medicaid Planning
Financial Gifts to Children and their Effect on Medicaid Qualifications
There are so many misconceptions surrounding Medicaid with respect to financial gifts that we thought we would address some of the more frequently asked questions: Q: “Is it true that under current Medicaid laws, a parent cannot make financial gifts to their children or others once they have entered the nursing home?” A: No. In fact, a proper gifting program is a great Medicaid planning technique. At the time an applicant applies for Medicaid, the state will “look back” 5 years to see if any […]