Michigan Medicaid planning is a consistently changing and very technical area of law. Before you begin gifting things away in preparing for a Medicaid application, it is important to speak with a Michigan Medicaid planning attorney or Michigan elder law lawyer.
Here are some of the common strategies that Michigan elder law and Michigan Medicaid planning lawyers are utilizing.
First, marriage opens up some great avenues for Medicaid planning with the Sole Benefit of Trusts (or SBO Trusts) along with using the community spouses asset allowance. Second, if there is a disabled member in the family the SBO Trust could be utilized. Next, we can convert countable assets into excluded assets. Another technique is the Half a Loaf strategy that uses short term annuities and gifting. A great option for real estate is using the Ladybird Deed.
If you or a loved ones is contemplating filing for Medicaid, please contact our office. We can help you navigate the confusing system.
-Christopher J. Berry, Esq.
Witzke Berry PLLC
Michigan Medicaid Planning Lawyers | Michigan Elder Law Lawyers
Here are some of the common strategies that Michigan elder law and Michigan Medicaid planning lawyers are utilizing.
First, marriage opens up some great avenues for Medicaid planning with the Sole Benefit of Trusts (or SBO Trusts) along with using the community spouses asset allowance. Second, if there is a disabled member in the family the SBO Trust could be utilized. Next, we can convert countable assets into excluded assets. Another technique is the Half a Loaf strategy that uses short term annuities and gifting. A great option for real estate is using the Ladybird Deed.
If you or a loved ones is contemplating filing for Medicaid, please contact our office. We can help you navigate the confusing system.
-Christopher J. Berry, Esq.
Witzke Berry PLLC
Michigan Medicaid Planning Lawyers | Michigan Elder Law Lawyers
