All other assets are generally non-exempt, and are countable.  Basically, all money and property, and any item that can be valued and turned into cash, is a countable asset unless it is one of those assets listed above as exempt. This includes: Cash, savings, and checking accounts, credit unio...

To qualify for Medicaid, applicants must pass some fairly strict tests on the amount of assets they can keep. That means you either qualify for Medicaid on a particular date or you do not. What I mean by that is when the caseworker at the Department of Human Services reviews your application, the...

As life expectancies and long term care costs continue to rise, the challenge quickly becomes how to pay for these services. Many people cannot afford to pay $6,800.00 per month or more for the cost of a nursing home in southeast Michigan, and those who can pay for a while may find their life sav...

Medicaid is a benefit program which is primarily funded by the federal government and administered by each state. Sometimes the rules can vary from state to state, which adds to the misinformation about what can be done to protect assets when qualifying for Medicaid. The information on my website...

In considering how to pay for nursing home care in Michigan, one of the first issues that comes up is if Medicare pays for nursing home care.  There is a great deal of confusion about Medicare and Medicaid, probably in part due to their very similar names. Medicare is the federally funded health...

Along with getting good quality of care for the nursing home resident, the major concern is how to pay for it when it costs $6,600 or more a month. There are, essentially, just four ways to cope with such astronomical costs: 1. Long Term Care Insurance - If you are fortunate enough to have this ...

There are six tests or criteria that have to be met in order to qualify for Medicaid in a Michigan nursing home. 1.  Medical Need:    To be eligible for long-term care Medicaid benefits, the person must meet certain medical and functional eligibility criteria, i.e., they must need custodial care...

This is the first in a series of blog posts which will provide an overview of qualifying for Medicaid nursing home benefits in Michigan. Long-term care is expensive, whether at home, in assisted living, or in a nursing home.  With nursing home care costing about $6,500 a month or more in the Oak...

1. Thinking it's too late to plan. It's almost never too late to take planning steps, even after a senior has moved to a nursing home. 2. Giving away assets.  First, it's your money (or your house, or both). Make sure you take care of yourself first. Don't put your security at risk by putting yo...

"My friend said . . ." All too often, we meet people who have been given wrong information about Medicaid from well-meaning friends, co-workers, family members, and even people who work in hospitals, nursing homes, or for the government. These stories are often filled with inaccuracies and half-...

Many people believe that joint accounts are a good way to avoid probate and transfer money to loved ones, and such accounts are sometimes referred to as "the common person's estate plan." But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used ...

Many people believe that Medicare covers nursing home stays. In fact Medicare's coverage of nursing home care is quite limited. Medicare covers up to 100 days of "skilled nursing care" per illness, but there are a number of requirements that must be met before the nursing home stay will be covere...

Thinking about a time when you will need help taking care of yourself is not fun. That is why most people put off discussing long-term care until it can't be ignored. But it is better to start long-term care planning early. Here are some reasons to start planning now: People are living longer an...

Many people use the terms Alzheimer's disease and dementia interchangeably, but they have very different meanings. Although dementia is a group of symptoms that include memory loss, the term itself doesn't explain what is causing the symptoms. Alzheimer's disease is the leading cause of dementia,...

House Budget Committee Chairman Paul Ryan (R-WI) has proposed a budget that would radically reshape both the Medicare and Medicaid programs and shift more costs to seniors and people with disabilities. The proposed budget, aimed at shrinking the nation's deficit as well as the size of government...

“Aid and Attendance” is an income-tax free special monthly pension available to wartime veterans and their surviving spouses.  The monthly pension available ranges from $1,056.00 to $1,949.00.  The United States Department of Veterans Affairs (the VA) administers the program.  The receipt of thes...

How do you access a safe deposit box after the owner passes away?  If the deceased owner (the “decedent”) had a safe deposit box, it may be a good idea to gain access to the box as soon as possible.  The Last Will and Testament or Trust and other documents needed to settle the estate can often be...

Illinois Judges says the Property in a Trust that Prevents Distributions that Interfere with Medicaid Eligibility is an Available Asset In the case of Vincent v. Department of Human Services, an Illinois appeals court found that a trust that prevented the trustee from making distributions if it ...

Many people are willing to voluntarily care for a parent or loved one without any promise of compensation. Even so, a growing number of people in Michigan are entering into caregiver contracts (also called personal service or personal care agreements) with their family members. Having such a cont...

In Michigan, a decedent's heirs are determined by applying the rules of intestate succession. If the decedent died intestate, these rules determine who will ultimately receive the residue of the decedent's estate. There are several general rules of intestate succession that are used to identify h...

Siblings do not always receive equal shares of a parent's estate. Sometimes the inequality is intentional and sometimes it is accidental. Regardless of how it happens, it can cause arguments among the children. However, there are some steps parents can take to promote family harmony. If you inte...

The basic premium for Medicare Part B will be $115.40 a month in 2011, up from $110.50 in 2010 (a 4.4 percent increase). But because there will be no cost of living benefit increase for Social Security recipients for 2011, most beneficiaries will be exempted from paying this increase and will ins...