[willibeaux]

nasc.... Some folks go through all sorts of legal manipulations to protect their assets. Will Zerocare make them invalid if heirs will still be responsible to pay off the incurred debt?

Can any other Freeper answer this question?

Thanks

[hinckley buzzard]

Under original Medicaid rules, to qualify you can have only a few exempt assets. These include a home if occupied by a spouse, a car for the spouse, personal belongings and household goods, burial space, life insurance if face value is 1500 dollars or less, and 1500 dollars cash. Nonexempt assets include all financial assets, real estate, more than one car, boats or other RV's, land contracts or mortgages.

Couples do have the provision for division of assets so that when one spouse goes on Medicaid the other is not impoverished. There are provisions for gifts also but they may delay or defer qualifying for Medicaid if they occur in the previous five years.

The best idea is to consult an attorney specializing in this field because penalties for ineligible distribution or hiding of assets can be severe.

The provision that seems to get people upset is that the home is not exempt if unoccupied by a spouse or the recipient is not returning within 6 months, as with a long term nursing home resident. In that case the home will be sold to recapture previous paid expenses.