Medicaid Planning Myths
If you are confused about Medicaid, you’re not alone. It’s a complicated topic with frequent changes and can seem overwhelming. But it doesn’t need to be.
Make sure you’re equipped with everything you need to know to care for your elderly loved ones and make sure their assets are protected with a Medicaid Asset Protection Trust.
Myth #1: “I have to dispose of all my resources to get Medicaid.”
FALSE. Both individuals and married couples are allowed to keep some property and still be eligible for Medicaid. We can help you understand what you can and cannot keep.
Myth #2: “I can’t give away anything and qualify for Medicaid.”
FALSE. This is a complicated area of the law, which is why you need our expert team to help you navigate it properly.
Myth #3: “If I give my assets away, I won’t be eligible for Medicaid for five years.”
FALSE. It’s true that there are certain restrictions and rules surrounding gifting during the five-year period just before you apply for Medicaid, but gifting certain items doesn’t stop you from getting Medicaid.
Myth #4: “I can keep all of my property when my spouse gets Medicaid.”
FALSE. The assets of both spouses are reviewed when one spouse applies for Medicaid. Our team can help you with your application to make sure your application isn’t denied due to mistakes.
Contact us today for a FREE consultation!