NURSING HOMES, MEDICAID, AND YOUR ASSETS
More than a year has passed since the federal government changed the rules for qualifying for Medicaid assistance for long-term care, and experts in the field are still sorting out the implications for those who want to pass assets on to their children.
The new rules made it tougher, for example, to give gifts to children or grandchildren to help pay for their college education. Individuals who make such gifts can find themselves ineligible for Medicaid benefits after they’re already in a nursing home.
Read this article from the Wall Street Journal which discusses this important issue in detail.