Elder Law

How to Protect Your Estate While Using MediCaid

You have worked hard all your life and planned ahead for your retirement years. You have recently been informed that a loved one is in need of a nursing home. You are surprised to find out that nursing home care costs upwards of $6,000 per month. What should you do?

The total amount of assets is not relevant when determining if a person qualifies for Medicaid. Instead, "countable assets" determine whether one qualifies for Medicaid. If the countable assets are in excess of the Medicaid limit, then planning is necessary to qualify for Medicaid. An attorney can advise a person how to spend the excess assets on exempt property. Some examples of exempt property are the homestead, homestead repairs and improvements, an automobile, and personal and household goods. In addition, the purchase of certain prepaid funeral expenses and the payment of bona fide debt and expenses are legitimate ways to use excess assets without incurring any penalty in the Medicaid program.

If You Are Interested in Learning More

If you are interested in learning more about protecting your assets while still being able to qualify for Medicaid benefits, we invite you to consult with our Elder Law specialist, Attorney Michael D. Eberth.

NICHOLS & EBERTH, P.C.
22374 Garrison, Dearborn, MI 48124

Free Initial Consultation

Call Dearborn office at (313) 561-5700 or
Call Birmingham, Northville, Troy office at (248) 952-1700 or
Call us toll free at 888-571-5700 or
Send us an email at email@michiganattorney.com