Posts Tagged ‘transfer of assets’

Medicaid – same-sex spouse or domestic partner beneficiary – Transfer of Assets

Transfers of Assets: States are required to have provisions regarding transfers of assets for less than fair market value under sections 1902(a)(18) and 1917(c) of the Act. A State Medicaid plan must provide that, if an institutionalized individual or the spouse of an individual transfers assets for less than fair market value after the “look-back” date defined in the statute, the State will calculate and impose a period of ineligibility. Medicaid payment is not available for the long-term care services the individual receives during the period of ineligibility, although the individual remains eligible for Medicaid coverage of non-long term care…

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Can a veteran transfer all his assets to his child that he is residing with?

Like most questions, they are fact specific. Typically, the VA frowns upon transfers from a veteran to anyone residing in the household, unless demonstrated that the full ownership and all rights were rescinded AND it was performed prior to the date of entitlement.  Although, there can be many unexpected issues.

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