Avoiding the Medicaid Trap: How to Beat the Catastrophic Costs of Nursing-Home Care
In this book, attorney Budish outlines several strategies for preserving assets while still qualifying for Medicaid; these include transferring property to children or other relatives; investing in "exempt" assets (e.g., house, burial plot); juggling assets between spouses; setting up a Medicaid trust; and (as a last resort) divorce. These techniques and their impact on Medicaid eligibility are clearly explained using concrete examples and summary checklists. Two lengthy appendixes contain durable power of attorney forms and five model Medicaid trusts. Some may question Budish's assumption that the enormous cost of long-term custodial care should rightfully be assumed by government, but this is important information to make available, especially since many people mistakenly believe that Medicaid will cover all nursing home costs.- Jack Ray, Loyola/Notre Dame Lib., BaltimoreCopyright 1989 Reed Business Information, Inc.--This text refers to an out of print or unavailable edition of this title.