Keep the House

Asset Protection – Avoid Medi-cal Lien on Home 

 

    1. Avoid probate and State Medi-Cal recovery lien for nursing home costs.

    2. Keep current income tax deductions on home.

    3. Asset, creditor and divorce protection for the beneficiaries.

    4. Keep control over most valuable asset even after disability.

    5. No 60-month look-back period: can transfer assets immediately without waiting.

    6. The DRA of 2005 have set dramatic new limits on Medi-Cal Planning but there are still opportunities.

This entry was posted on June 11, 2010 at 10:01 pm and is filed under Asset Preservation, Estate Planning, Medi-cal Planning, Special Needs. You can follow any responses to this entry through the RSS 2.0 feed.