Cash and Accounts Monetary resources can typically be liquidated within 20 days. These include cash, savings accounts, checking accounts, money market accounts and the like. Medicaid always “counts” monetary assets when determining Medicaid eligibility. Specifically, 20 C.F.R § 416.1201(b) provides: “Liquid resources are cash or other property which can be converted to cash within 20 […]
One of the issues families consider as loved ones age is whether an elder is susceptible to financial elder abuse. When trying to protect mom or dad (or another elderly loved one), sometimes famlies overstep. Paternalism is not appropriate when an elder is capable of making his or her own decisions; if the elder has […]
Government Bonds are debt instruments issued by a government entity. The most common form of government bond owned by a Medicaid applicantis U.S. Savings Bonds. Savings bonds are not transferrable. They can only be sold back to the government. If they are owned solely by the applicant or the applicant’s spouse, they are countable. However, […]
General Rule One vehicle of any value is exempt. If the applicant has more than one vehicle, then the most valuable vehicle will be exempt and other vehicles will count toward the $2,000 resource limit. In Georgia, “Automobile” means any vehicle used for transportation. These include cars, trucks, motorcycles, golf carts, animal-drawn vehicles and animals. […]
The Uniform Partition of Heirs Property Act (“UPHPA”) has been enacted in 21 States. It is designed to preserve family wealth passed to the next generation in the form of real proeprty. In Georgia, the Act is codified at O.C.G.A. § 44-6-180 through § 44-6-189.1. Initially, when a partition action is filed, the Act requires […]
POMS SI 01120.010 provides that an individual must have some form of ownership interest in property in order for the property to be considered a resource. [For presumably liquid resources (SI 01110.305), assume that the person whose name is shown as owner owns the entire resource. If more than one owner is shown, assume that […]
Today the Office of Financial Research announced that it added a third data source to it’s Financial Instrument Reference Database. The full press release is below: WASHINGTON –The Office of Financial Research has added a third data source, the Financial Information eXchange (FIX) Protocol, to its Financial Instrument Reference Database (FIRD), an important enhancement that will allow […]
In Georgia, O.C.G.A. 53-7-40 provides that claims are paid in the following order: Unless otherwise provided by law, all property of the estate, both real and personal, shall be liable for the payment of claims against the estate in the following order: (1) Year’s support for the family;(2) Funeral expenses, whether or not the decedent […]
Assets are things you own that have value. Assets include all income and all resources. 42 U.S.C. § 1396p(h)(1). They are one-half of a net-worth calculation (the other half being liabilities). Medicaid treats different types of assets differently, with some being countable and others being non-countable (or exempt) during the eligibility determination. Recall that you […]
It really doesn’t help to worry. The simple answer is “don’t do it.” In Matthew 6: 25-34, Jesus said: Take no thought for your life, what ye shall eat, or what ye shall drink; nor yet for your body, what ye shall put on. Is not the life more than meat, and the body than […]
Enter your name and email address to keep up with what’s new at EZ Elder Law!
P.O. Box 2023
Dalton, Georgia 30722
+1-800-241-8755EzElderLaw is an online service providing legal forms and information. We are not a law firm and we do not provide legal advice.
