This path of inheritance is the normal distribution under many states' "intestacy statute" (the law setting forth the distribution of the property of a decedent with no will).
1 CommentReviewing a senior’s ownership interest in their home often comes into play when creating a financial strategy that includes qualifying for Medicaid.
6 CommentsIt might not be a good idea for a senior to live on their own as they age. A better solution may be to move in with an adult child who owns their own home and purchase a "life estate" in their house.
8 CommentsApplying for Medicaid for an aging parent can be tricky. One caregiver describes his personal experience navigating the Medicaid application, dealing with the government and the red tape that comes with applying for Medicaid.
38 CommentsSometimes couples are willing to take the big step of obtaining a divorce in order to protect their assets, so that the ill spouse can qualify for Medicaid without impoverishing the well spouse.
12 CommentsMedicaid isn’t in the business of “taking” seniors’ homes. But when a nursing home resident on Medicaid dies, the state may seek repayment by filing a claim against their estate, which usually includes exempt assets like their primary residence.
43 CommentsYou can buy your mom's insurance policy from her, and pay her cash, which she can spend down to quality for Medicaid.
0 CommentsIf the bonds are jointly owned, 50% belongs to the individual applying for assistance and that is what is counted and looked at by Medicaid.
1 CommentMedicaid considers a senior’s primary residence an exempt asset in most cases, but owning a home comes with hefty ongoing costs. If an elder has limited income and assets, how do their property taxes, insurance premiums and utility bills get paid?
13 CommentsMedicaid long-term care eligibility requirements can be confusing. Learn how a senior can qualify for Medicaid and what long-term care services are covered.
7 Comments