Medicaid Asset Rules and Pitfalls to Avoid: Transfers, Conversions, Asset Limits, Level of Care, Exempt Assets

Medicaid assets, transfers, and conversion rules cause much confusion amongst elder law attorneys. Practitioners advising the senior population must understand the medical criteria, qualification standards for Medicaid, how assets are classified, limitations, lookback periods, and rules for purchasing or converting assets.

The assets held by an applicant largely determine Medicaid eligibility, but not all assets are treated the same. Rules for married couples are particularly complex when implementing asset protection and spend-down strategies. Counsel with elderly clients must navigate applicable rules and asset limits, qualifying asset transfer requirements, methods to convert assets to noncountable assets, and key provisions for Medicaid trusts.

Listen as our panel of elder law attorneys guides counsel in navigating limitations, level of care requirements, lookback periods, purchase of exempt assets, conversions, and more.