Liquidating assets medicaid Freeroomsexcam

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Medicaid eligibility requirements vary by state, but federal minimum standards must be observed.Additionally, your assets and monthly income must fall below a minimum standard to qualify.For many persons, estate planning also includes planning for the possibility of long-term health care.

In addition to helping you qualify for Medicaid benefits, Medicaid planning can help you: Each state compiles a list of exempt assets based on federal guidelines.Making sure that your healthy spouse has money to live on is a concern when you are in need of nursing home care.When the state considers whether one spouse is eligible for Medicaid, the couple’s assets are pooled.The high cost of nursing home care causes many residents to rapidly exhaust their resources.However, through Medicaid planning, you can pay for your long-term care while also protecting your assets for your loved ones.

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