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Advanced Medicaid Planning Series: Asset Protection (Single or Widowed Case)

Posted by AXIOM on  October 31, 2015 
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To begin my series on advanced Medicaid planning strategies, I would like to address a question that I am often asked: How can I protect my assets if I’m not likely to enter a nursing home within the next 5 years? * The following is a discussion on the protection of non-real estate assets. To learn about advanced Medicaid planning strategies to protect your home and other real estate, please view my blog titled, “Medicaid Advanced 

Advanced Medicaid Planning Series: Protection of the Home and Other Real Estate

Posted by AXIOM on  October 31, 2015 
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While there are strategies to protect the home of those who are entering, or already in a nursing home, the focus of this article is on advanced Medicaid planning: for those who will not be needing nursing home care within the next 5 years. I will discuss crisis Medicaid planning techniques in a future series of articles. Why consider advanced Medicaid planning to protect the home and other real estate? Indiana has a 5‑year look 

Power of Attorney: An Essential Estate Planning Tool

Posted by AXIOM on  September 15, 2015 
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A Power of Attorney is a written document which gives a person, or persons, of your choice the authority to take actions or make decisions on your behalf. Once you’ve chosen a person (or persons) to help you make important decisions, that person (or persons) is called your “attorney-in-fact”. Your attorney-in-fact may have authority to act in your place for financial or other purposes. It is important to trust this person with your finances. There 

7 Asset Transfers Which Will Not Affect “Nursing Home Medicaid” Eligibility

Posted by AXIOM on  August 12, 2015 
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Category: Medicaid, Nursing Homes
#1 Transfers to spouse. A married Medicaid applicant/recipient who is an inpatient at a nursing facility may, without penalty, transfer all assets to the spouse who is still living at home. #2 Transfers to a blind or disabled child. A Medicaid applicant/recipient may transfer assets to his or her blind or disabled child, according to SSI criteria, or to a trust fund for such a child, without penalty. #3 De Minimis gift. Each year, a Medicaid 

Treatment of Income for Medicaid Recipients in a Nursing Home

Posted by AXIOM on  May 10, 2015 
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Category: Medicaid, Nursing Homes
Your Medicaid application has been approved. Fantastic! The approval notice mentions something about a “liability” owed to the nursing home each month. What is a liability and how did they arrive at this figure? Once you’ve been approved for Medicaid, you will likely owe a portion of your monthly income to help cover nursing home costs; this is referred to as the liability to the nursing home. The monthly liability owed to the nursing home