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Medicaid
Estate Planning
Marlene
S. Stum, Ph.D. Family Social Science
What
is Medicaid estate planning?
Medicaid
estate planning "involves legal and financial
approaches to satisfying financial eligibility
requirements for Medicaid, the federal and state
funded program that does cover some types of long
term care. More specifically, an individual's
assets are sheltered with the intention of voluntarily
becoming impoverished to meet Medicaid eligibility
criteria (Curry, Gruman, & Robison, 2001).
What
are the eligibility criteria for Medicaid?
Medicaid
is available to people who meet specific income
and asset guidelines as well as additional criteria.
Eligibility rules change frequently and are quite
complex.
To get a sense of your eligibility you can complete
the Public Benefits Counselor at www.benefitscheckup.org.
Contact your local Department of Social or Human
Services to discuss eligibility and application
processes. The number is in the government pages
of the phone book.
What's
legal with regard to Medicaid estate planning?
The
laws surrounding Medicaid estate planning are
extremely complex. It is important to get professional
legal advice before.
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