Medicaid Planning & Asset Protection Congress has established a period of ineligibility for Medicaid for those who transfer assets.  The DRA significantly changed rules governing the treatment of asset transfers.  For transfers made prior to enactment of the DRA on February 8, 2006, state Medicaid officials will look only at transfers made within the 36 […]

Medicaid Planning: Protection of Home & Irrevocable Trust Another method of protecting the home from estate recovery is to transfer it to an irrevocable trust.  Trusts provide more flexibility than life estates but are somewhat more complicated. Once the house is in the irrevocable trust, it cannot be taken out again.  Although it can be […]

Medicaid Asset Protection & Spending Down Applicants for Medicaid and their spouses may protect savings by spending them on noncountable assets.  These expenditures may include: In the case of married couples, it is often important that any spend-down steps be taken only after the unhealthy spouse moves to a nursing home if this would affect […]

South Carolina Medicaid Estate Recovery and Lien Process When an individual receiving Medicaid benefits in the state of South Carolina dies, the state is required to attempt to recover from his or her estate to cost of benefits paid for care.  In August of 1993, Congress passed a law that requires states to recover amounts […]

Senior Source Newsletter January 2012 The Importance of Planning Early “Planning is bringing the future into the present so that you can do something about it now.”   Alan Lakein, American author and Time Management Expert We plan to go on vacation.  We plan to have dinner with friends.  But when it comes to planning […]

Senior Source Newsletter July 2012 The Future of Medicaid and Medicare In our March issue, we reported about the federal government’s efforts to decrease spending in 2011 by making sweeping cuts to numerous federally funded programs to avoid a government shutdown. Four months later, the focus on cutting Medicaid and Medicare benefits has gained momentum, […]