MEDICAID
Medicaid Commonly Asked Questions |
Q: My spouse is going into a nursing home, how do we protect our assets?
By consulting a medicaid planning attorney, the non-nursing home spouse’s resources can be significantly increased to prevent spousal impoverishment.
Q: Can I give all of my money away to my family before I enter a nursing home?
With the right estate and medicaid planning tools, money for your family can be preserved. However, if you give all your money away before you go into a nursing home, you could affect your right to get government assistance.
Q: If I put my daughters name on all my bank and investment accounts, will they still consider these assets, my assets?
Joint ownership of liquid cash assets with a non-spouse will be counted as the sole asset of the medicaid applicant, unless the joint owner can verify contribution to that account.
Q: If my mother goes on medicaid, versus private pay, will my mother be treated differently?
Once someone is receiving Medicaid in a nursing home, Federal and State law prohibits any discrimination. However, not all nursing homes are fully Medicaid certified. If someone in a nursing home goes on Medicaid they may be evicted if that nursing home is not Medicaid certified.
Q: Is it discrimination for a nursing home to pick a private pay client over a nursing home client?
No, it is not considered discrimination for a nursing home to pick a private pay patient over a medicaid patient.
Q: If my spouse goes into a nursing home, will the government take all of my money?
The government doesn’t take your money. They do make you account for all your assets and then their rules allow the non-nursing home spouse to keep a certain amount of money and the remainder must be used to pay for the nursing home spouse.
Q: Is a medicaid annuity an option for me if my spouse is going into the nursing home?
Some Medicaid Annuities that meet certain qualifications can be used by the non-nursing home spouse to protect additional assets. Before signing up for any Medicaid Annuity you need to consult an attorney who specializes in Medicaid planning.
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Estate Planning is a Specialized Matter! |
Each family situation is unique and requires the advice of an experienced estate planning attorney. Danielle Redmond Streed is a graduate of Thomas M. Cooley School of Law (1991). Danielle has practiced in the Kalamazoo area since 1991 and joined the family firm of Redmond & Redmond (now Redmond, Redmond & Yokom). She specializes in estate planning, Medicaid planning, estate administration, probate, and charitable giving. |
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Since 1998, Danielle has conducted a short radio program called "Your Estate Matters". The show covers various Estate Planning topics and issues. The program runs every Tuesday morning at 7:55 a.m. with Lori Moore. |
For questions you can contact Danielle
at the numbers or email link listed below. |
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