
Creating a Funeral Trust May Aid in Medicaid Eligibility
If you’re familiar with your state’s Medicaid eligibility requirements, you may also be familiar with the phrase “Medicaid Spend Down.” If you are not, let me break it down for you. Medicaid eligibility is determined by an applicant’s income and countable assets- both must be under a specified amount. If the applicant’s income or countable assets exceed Medicaid eligibility, they may become eligible by “spending down” income or assets. Medicaid spend down can be tricky, as Medicaid has a look-back period in which past transfers of property, gifted assets, or ones sold under fair market value are reviewed. Creating an