The Family Gave Away Half of Dad's $200,000 and Used the Other Half to Pay the Nursing Home Through the Penalty. Medicaid Allowed It, and the Strategy Has a Name

The Family Gave Away Half of Dad's $200,000 and Used the Other Half to Pay the Nursing Home Through the Penalty. Medicaid Allowed It, and the Strategy Has a Name

Elder law attorneys have a name for the strategy that let one family walk away with $100,000 while Medicaid still picked up Dad's nursing home bill, and the math behind it depends on a single annuity contract surviving federal scrutiny.

The Family Gave Away Half of Dad’s $200,000 and Used the Other Half to Pay the Nursing Home Through the Penalty. Medicaid Allowed It, and the Strategy Has a Name

The post The Family Gave Away Half of Dad’s $200,000 and Used the Other Half to Pay the Nursing Home Through the Penalty. Medicaid Allowed It, and the Strategy Has a Name appeared first on 24/7 Wall St.. Picture a common scenario in a state where this type of crisis planning is welcome: Dad moves…