Medicaid Transfer of Assets

Medicaid Transfer As you might be aware, Medicaid has a “look back” period of five years for transfers. This means that a person can not take their assets, transfer them to a family member, or an irrevocable trust, and then apply for Medicaid. The Department Children and Families will dig through the financial records looking for any transfers within a five year period. What is more often overlooked are “unrealized” transfers. So, obviously if someone writes a check out of their bank account to their grandchild, that is an obvious transfer. How about if they were to simply add the grandchild to the banking account from an estate planning perspective (this is often done rather than execute a

Divorce and Wills

I am often amazed how some Family Attorneys (Divorce lawyers) commit near malpractice by not informing their clients of the need to update their clients’ Wills during a divorce. The reason is that since the client has spent thousands of dollars, energy, and untold emotion “divorcing” themselves from their spouses, they leave behind a “string” that also needs to be severed; yet most family attorneys do not inform their clients of this need. When a person divorces, their then existing Will remains in place and effect. Meaning, even after a divorce the client MUST update their Will if they do not want their now ex-spouse to inherit their assets from the Will. As incredible as this sounds, it is

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(786) 463-4463

North Miami Beach, Florida