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Since I have a large life insurance policy which will go to taking care of my son, I wanted to make sure, in case I were to need Medicaid someday, that they would not count the cash value of my account as an asset. I was floored when I found out that Medicaid wanted my mom to cash out her life insurance....I always thought life insurance was for the future!
You seem to know a lot about these things. I've seen your posts on other threads and would love any advice you have in protecting both my parents' assets and mine in the future. Thanks!
However, I am not transferring any assets while I am alive (I don't really have any assets other than my home and retirement accounts). Definitely get a good lawyer. You'll want to be absolutely sure your child with a disability does not have more than $2,000 in assets or he/she will lose Medicaid services.