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Disallowing Partial Cures: Is It the New Trend?

4/16/2012 1:13 PM

For those that are not familiar with the term, a partial cure exists when a giftee returns a portion of a gift to a Medicaid applicant, thereby reducing any previously applied divestment penalty period accordingly. This technique is primarily popular in reverse half-a-loaf planning. For purposes of an example, Martha will illustrate the use of a partial cure. Martha resides in a nursing home, and is seeking Medicaid eligibility. She gifts her entire spend-down amount to her ...

Medicaid's Treatment of IRA Annuities

4/4/2012 1:42 PM

In most states retirement accounts and retirement annuities are treated differently for Medicaid purposes. A retirement account will traditionally be considered under the retirement asset rules, and applied to eligibility accordingly. A retirement annuity will traditionally be considered under the annuity rules, and applied to eligibility accordingly. In short, the investment vehicle is first considered, and then the tax status of the funds held inside. A retirement account will e ...

Disclaimer: Krause Financial Services is incorporated in the State of Wisconsin. Dale M. Krause, and Krause Financial Service, Inc., by means of this web site, is not offering legal advice. With respect to the material contained in this web site, some of the material may be affected by current and future changes in law. For those reasons, the accuracy and completeness of such information, and the opinions of its author, are not guaranteed. In addition, because of the complexity and interrelationship of various areas of law which are presented in this web site, from which there may be certain exceptions or limitations, the strategies and plans outlined in this web site may not be suited for every individual, in every state. As such, it is strongly suggested that before employing any one, or more, of the techniques, strategies, expositions of any law, the reader should secure the services of a competent elder law attorney in their respective state.