medicaid estate recovery

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Medicaid Estate Recovery
Medicaid is the largest payer of long term care,
not Medicare. The majority of those in nursing
homes have at least a portion of their bills paid
by Medicaid. In addition to those in nursing
homes, those residing at home who receive help
from family also receive assistance from
Medicaid. If you are elderly and require
financial assistance to meet your required care,
then the government will take your home, farm and
other property when you die. In what could be
considered age discrimination, this recovery
program applies only to those over 55.
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Medicaid Estate Recovery
If Medicaid pays for any portion of your care,
then your estate will be forced to repay the
government before making distributions to any
beneficiaries. We believe this estate recovery
should be considered a death tax which is imposed
only upon the elderly. Others have called the
program the equivalent of quote picking the bones
of the poor" and quote sucking the last ounce of
blood from the corpse".
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Medicaid Estate Recovery
Most assets must be depleted for the elderly
qualify for Medicaid, thus recovery efforts focus
on real estate, such as family land or the home.
While states individually bear the burden and
cost of collection, the funds recovered are sent
back up to the federal government. This program
began in 1993. States are provided some leeway
with regards to the assets they seize, but must
at a minimum attack the probate estate of the
Medicaid recipient. Note, a majority of states
have expanded their recovery program beyond what
is minimally required. We will help prevent this
from happening to your family.
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Medicaid Estate Recovery
Are you looking to protect your assets from
Medicaid? Properly forming a Medicaid asset
protection trust can assist you with qualifying
for nursing home eligibility and other forms of
long term care. Elder law asset protection is NOT
simple. It cannot be done on your own, nor should
it be entrusted to a general practice attorney.
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Medicaid Estate Recovery

• www.irrevocablemedicaidtrust.com