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An Overview of Asset Transfer Strategies

You may need to transfer assets for all sorts of reasons. A working knowledge of ...

The post An Overview of Asset Transfer Strategies first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Tax Planning with Charitable Trusts (Lead vs. Remainder Trusts): A Guide

When navigating the complex world of estate planning, financial planning, and tax planning, understanding the ...

The post Tax Planning with Charitable Trusts (Lead vs. Remainder Trusts): A Guide first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Which Recipients Are Exempted from A Period of Medicaid Ineligibility Triggers?

October 9, 2018

Transferring assets is one of the most complicated aspects of planning ahead for Medicaid. In fact, it often requires a knowledgeable estate planning attorney who has been practicing in the field for many years to give you a better understanding of what is required with regard to Medicaid asset transfers. 

A well-meaning asset transfer could end up becoming a significant problem if it triggers a period of ineligibility during which the person who desperately needed that support and payment is no longer able to tap into Medicaid. Transferring assets to certain recipients will not trigger a period of Medicaid ineligibility, however.

The following people are considered exempt recipients.

  •   A disabled or blind child.
  •   A spouse or a transfer to another person as long as the transfer of those of assets was for the spouse’s benefit.
  •   A trust for whom the beneficiary is a disabled individual under age 65, who is the sole person to receive the benefits of the assets.
  •   A trust created for the benefit of a disabled or a blind child.

Furthermore, there are special exceptions that apply to the transfer of a person’s home. A Medicaid applicant may be eligible to transfer his or her home to other individuals without incurring a transfer penalty, but due to the fact that Medicaid rules can be especially complex, it is strongly recommended that you can consider a consultation with a knowledgeable estate planning and elder law lawyer who is familiar with the state-specific rules and can help advise you about the process.

The support of an estate planning attorney is instrumental in outlining your long-term goals and helping you to avoid mistakes that could be especially problematic for you or your loved ones into the future. A consultation with an estate planning attorney can be the first and one of the most important steps in the planning process.


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Schedule your free Exploratory phone call

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can be of assistance.

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listings and become a part of an amazing team.

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Recent Posts
An Overview of Asset Transfer Strategies

You may need to transfer assets for all sorts of reasons. A working knowledge of ...

The post An Overview of Asset Transfer Strategies first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Tax Planning with Charitable Trusts (Lead vs. Remainder Trusts): A Guide

When navigating the complex world of estate planning, financial planning, and tax planning, understanding the ...

The post Tax Planning with Charitable Trusts (Lead vs. Remainder Trusts): A Guide first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more