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July 11, 2016

What are some permissible ways to spend down my assets?

by Aubrey Harry Ducker Jr. in
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In Medicaid planning, we often talk about spend down. Spend down is very important to qualify for Medicaid, but if you dispose of assets for less than fair market value or spend on someone else’s assets, it can be disqualifying for you in Medicaid. You can certainly spend your own money for a car, to improve your home, to fix all of those little things that have gone wrong in the last few years that you didn’t take the time to fix, but it’s imperative that you not just give the money away in order to qualify for Medicaid.