The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retired Fools

URL:  http://boards.fool.com/essentially-any-action-taken-to-hide-or-shield-11947773.aspx

Subject:  Re: Medicaid funding Date:  2/8/2000  10:41 AM
Author:  TwoCybers Number:  2039 of 19257

Essentially any action taken to hide or shield assets in the 36 month period before application is made for medicade is void. For example, if you change the ownership rental to remove the name of the person who is making application for medicade, then the government says this change in ownership was made only to avoid having the rental property be sold and the money used to pay bills being sent to medicade. (Note in this example I am assuming the rental property was joint between a couple or solely with one of the couple and after the change of ownership, the rental property was solely in the name of the non-medicade recipient.)

The time frame used to be shorter then 36 months, but when AIDS came on the scene, a longer look back period was deemed necessary so the law was changed.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us