ObamaCare’s Medicaid Expansion quietly enables states to confiscate assets from dead seniors

Coach is Right ^ | 12/23/13 | Doug Book

[JimRed]

Which is a windfall for tax-avoidance lawyers, who will show you how to get taken care of on the public dime after transferring your assets out of reach of the government.

[Paulie]

Free is never free - even if you had no choice in the matter. The house always wins...

[Mr. K]

This just keeps getting better and better...

I imagine someone with obamacare will die within the next few months and the fun will begin on THIS particular barrel of monkeys

[BipolarBob]

Are there any legal ways to avoid this by placing assets in a living trust? Or a trust period?

[no-to-illegals]

Down here in my home state, people are seeking permits to protest the legislature because Medicaid was not expanded. This time the legislature, in my home state, protected people and they want to protest. Can’t fix stupid.

[Black Agnes]

There’s usually a lookback/grabback period of several years. IIRC it’s either 5 or 7 years.

[Tilted Irish Kilt]

I wonder if opening a "limited liability" ( LLC )
would protect estate assets from having the government from recovering monetary assets ?
All that I know is that I was forced into government mandated insurance
It was not my choice !!

[cuban leaf]

This is why you trickle the money to your kids or set up a trust, both before you die.

[no-to-illegals]

yes, was a five year plan to do such. Talk with an attorney familiar with trusts. Am almost positive was changed under zer0care though.

[ExTexasRedhead]

Democrat-designed Dictatorship and Holocaust.

[Sacajaweau]

I learned this from an elderly lady. Every year, she takes the profit from renting her farm and distributes it equally to her children as a gift. It is about $5000 each x3.

I've been doing the same thing...but not that much.

[Sacajaweau]

Many folks put the house in the children’s name.

[FreeReign]

Which is a windfall for tax-avoidance lawyers, who will show you how to get taken care of on the public dime after transferring your assets out of reach of the government.

Not really. There is no real way of avoiding estate taxes short of giving it all away and even then you have to do it gradually else they'll tax it.

[FreeReign]

Many folks put the house in the children’s name.

You have to gift it gradually.

[silverleaf]

we citizens are, after all, the King’s deer

[Sacajaweau]

Nope...not the house. You do these things prior to the possibility of being on Medicare and/or Medicaid.

[cynicalman]

Many folks put the house in the children’s name.

BAD IDEA

[GraceG]

ObamaCare is Literally a Death Tax....

If it doesn’t Tax you to death....

After your death you will get taxed....

[grumpygresh]

More reason to transfer assets to PMs and other objects of value over time before you go.