Medicaid has set maximum limits for the number and amount of assets applicants can possess. These limits include the following:
Specialists have developed wise ways to fit within the limits without impoverishing spouses who are well and still need to support themselves. For example, Medicaid permits those who own property along with their spouses can transfer those assets to their spouse to qualify. Applicants can purchase a “Medicaid Qualified Annuity” that turns assets into a guaranteed income. In some cases, a Safe Harbor Trust may be helpful in qualifying an applicant for benefits.
Call for a consultation to discuss how to protect your families assets, obtain the services you need, and leave a legacy of love.