Blog Archives

Thinking about transferring your home to your children? (Part 2)

            Last week I told you about Jamie’s mistake.  Mom and Dad transferred their home to Jamie 7 years ago to protect it from Medicaid’s spend down requirements.  While the transfer was outside of Medicaid’s 5 year look back, now that Mom was planning to move in with Jamie the tax consequences of the sale […]

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Confusing Medicaid with Other Government Programs (Part 2)

                Last week I was telling you about the call I received from Lou.  His dad had been living in senior housing but now needs nursing home care.  Dad has $80,000 left in assets which he plans to spend down and then apply for Medicaid.                 When I asked Lou about gifts and other transactions […]

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Confusing Medicaid with other Government Programs

                The other day, Lou called me about his dad, who had been living in senior housing for a few years.   His health has deteriorated and he now needs nursing home care.  Lou’s plan is to spend down the $80,000 his dad has left, applying it towards the nursing home bill.   Sounds like a solid […]

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Retitling Assets to Healthy Spouse to Qualify for Medicaid (Part 2)

            Last week we were discussing Mary’s dilemma.  Her husband, George, has Alzheimer’s Disease and is going to need some care at home.  Mary is concerned that soon he will need nursing home level care and she wants to preserve their primary home and their second home.              The problem […]

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Tax Fraud or Medicaid Penalty?

Joe called me because he had just taken over Dad’s finances and the management of care from his brother, Jim.  That’s when he made a discovery that troubled him and caused him to reach out to us. Dad was still living at home alone but his health was declining.  Joe began looking at assisted living […]

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Medicaid Is No Piece of Cake (Part 1)

Mary Jane told me,  “Mom has no money.  She’s never had any money.  But Medicaid  still denied her application and now I owe the nursing home $40,000.”  I knew there had to be more to her story.  Sure enough, there was. It’s a very common belief that, because Mom and Dad never had much money, […]

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If I Get Denied Medicaid, Then I’ll Come to You – Part 2

We were discussing Diane’s 90 year old mother, who had just entered a nursing home from the hospital.  Diane called because she was anticipating the need for Medicaid and was concerned that the assets in a trust that had been established for her benefit would be countable under New Jersey’s Medicaid program. When I explained […]

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“If I get denied Medicaid then I’ll come see you”

Diane’s 90 year old mother had just entered a nursing home from the hospital.  She was still on Medicare but that coverage would stop in 2 weeks.  Diane called because she knew she would need Medicaid. “Mom has only about $30,000 in assets”, Diane told me.  “But she has a trust with about $60,000 in […]

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Is Hiding Assets in Mom’s Name a Good Idea? (Part 2)

Last week we talking about Jennifer’s problem, which she didn’t realize was a problem until she spoke with us.  She had been hiding her assets in her mother’s name to keep them out of the reach of her husband, who she was thinking she might divorce.  I told her that if Mom needs Medicaid – […]

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Is Hiding Assets in Mom’s Name a Good Idea?

Jennifer told me that her mom’s health had been deteriorating over the past few years and that she would probably need home care soon, with nursing home level care a definite possibility in a few years, if not earlier.  She then told me that her marriage was “on the rocks” and she was placing her […]

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