My neighbor told me about his Medicaid plan - I can not do the same thing? Monday, March 22, 2010

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Sometimes clients come to me have already done some of the home-brew Medicaid planning, probably because he has some advice from their neighbors or were simply afraid of the cost, considered to be high, Advocates. However, this is an area where certainly do not want to do-it-yourself!

First, the facts of your situation is definitely different from your neighbor in a way you can not even care. For example, the income of the parents of your neighbor, the costsnursing home in question, the health of his parents' and life expectancy, each of which may vary depending on the situation. But each of these factors is likely to change what you should do or allow alternative approaches to an elder law attorney, advises regularly on Medicaid issues.

Second, often changing the laws. Even if the situation exactly the same as that of others, the rules of the game in the coming months could be changed orProfit years since your neighbor counseling. For example, when the Congress was the Deficit Reduction Act of 2005, 8 February 2006, the period of "observation" (the gifts that have been penalized a number of months before a Medicaid program) has been extended from 36-60 months. The application itself one months too soon for a great gift would have disastrous financial consequences. Worth to know the rules!

Third, your family situation may be different fromTheir neighbors in a way that can not be known, and even if he is aware he can not understand how important such a situation: It can certainly be the door and exclusions that apply to your specific family situation, your neighbors can not to hear. For example, you can have a brother is "disabled" as defined by the Social Security Administration: An exception to the general rule that requires a gift to a period of disqualificationMedicaid benefits, making this gift of a trust for a disabled child (regardless of age).

Fourth, most do not want the huge differences from state to state in many of the rules of Medicaid. Although the picture is fixed for the entire Medicaid program by the federal government, with many of the necessary rules for the same in every state, there are many parts of the Medicaid Act, which allows each state has its own rules, within the prescribed periodlimits. So what can the mother of the neighbors have worked in Florida can not fly in Colorado.

Fifth, the mother, the fantasy "," near the house of your assets by moving the technique could be used to the fact "worked" by this time --- what a social worker. This is certainly no guarantee that your parents, happiness with the same technique. We can not want the consequences of such a technique would otherwise risk your lawyer can help assess the risks andTogether we can make an informed decision.

As you can see, this is an area full of complications. Ask your neighbors for advice on the best buy computer or car is one thing, but proceed at your own risk if they are based on the next Planning Medicaid!