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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Archives

Tag Archives for: "spending down for medicaid"
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 Does a Life Insurance Policy Owned by Someone Else Have to be Spent Down for Medicaid?
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By Harry Margolis
In Long-Term Care Planning
Posted July 14, 2020

Does a Life Insurance Policy Owned by Someone Else Have to be Spent Down for Medicaid?

Question: If a child is the owner of a life insurance policy, and the parent is the insured, is the policy excluded from a Medicaid spend down? There was no transfer of ownership; the child was [...]

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 Can Tax Payments be Part of Medicaid Spend Down?
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By Harry Margolis
In Long-Term Care Planning
Posted December 27, 2019

Can Tax Payments be Part of Medicaid Spend Down?

Question: When a husband is about to apply for Medicaid long-term care benefits, and a community-spouse (non-applicant) wife is trying to reduce her assets below the limit of about $130,000, what [...]

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 What Should I Do with My Uncle’s Income So He Can Be Eligible for Medicaid?
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By Harry Margolis
In Long-Term Care Planning
Posted December 13, 2019

What Should I Do with My Uncle’s Income So He Can Be Eligible for Medicaid?

Question: I am POA (Power of Attorney) for my 91-year-old uncle. For the past 2.5 years, he has been enrolled with MassHealth PACE. He receives about $1,300 a month combined from Social Security [...]

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 Handling a Whole Life Insurance Policy When Applying for Medicaid
2
By Harry Margolis
In Long-Term Care Planning
Posted December 13, 2019

Handling a Whole Life Insurance Policy When Applying for Medicaid

Question: Can a whole life insurance policy owned by a current recipient of Medicaid benefits be transferred or borrowed against in order to avoid becoming ineligible for benefits? Response: It [...]

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 Can Investment Account be Protected by Adding Co-Owner? Massachusetts
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By Harry Margolis
In Long-Term Care Planning
Posted November 27, 2019

Can Investment Account be Protected by Adding Co-Owner? Massachusetts

Question: I have a non-retirement account at Fidelity with my name on it and the beneficiary is the Robinson Crusoe family trust. Can I put my companion, Friday, on the account as well and then [...]

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 Will Transfer of Life Insurance Affect Mother’s Eligibility for Medicaid?
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By Harry Margolis
In Long-Term Care Planning
Posted November 5, 2019

Will Transfer of Life Insurance Affect Mother’s Eligibility for Medicaid?

Question: I need to sell my mother’s life insurance policy to bring down her assets to qualify for Medicaid, but it doesn’t have enough value to prepay for her funeral. The insurance [...]

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 How to Spend Down for Medicaid Eligibility
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By Harry Margolis
In Asset Protection, Long-Term Care Planning
Posted April 21, 2017

How to Spend Down for Medicaid Eligibility

As explained here, in order to be eligible for Medicaid coverage, in most states nursing home residents are limited to $2,000 in “countable” assets and if they’re married, their [...]

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  • Asset Protection (34)
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  • Estate and Gift Taxes (56)
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