This Chapter describes issues associated with planning for Medicaid eligibility with personal property. States have power to define property rights. See Hayes v. Howell, 251 Ga. 580 (1983), citing Texaco, Inc. v. Short, 454 U.S. 516 (1982). Owners of personal property have an action for damages to recover for damage or theft of personal property. O.C.G.A. § 51-10-6. Where appropriate, an action for for partition of personal property is an available remedy. O.C.G.A. § 44-12-1. When considering property interests, it is important to keep your eye on the ball. For example, somone holding a deed to secure debt has an interest in the underlying note, not the property secured by the note (unless the note is unpaid and a foreclosure occurs).
- What is Medicaid Planning
- What Are Property Rights?
- POMS Provisions Regarding Property Rights
- Spend Down
- Cash, Bank Accounts and Non-retirement Investments
- Vehicles
- Government Bonds
- Burial Resources and Life Insurance
- Contract Rights
- Stocks and Dividends
- Household Goods and Personal Effects
- Inheritances and Unprobate Estates
- Lump Sums
- Accounts – Checking, Savings and Other Accounts
- Prepayments and Deposits
- Property Essential For Self-Support
- Retirement Funds
- Trust Property
- Annuities
- Loans
- Personal Care Contracts
- Other Personal Property
- Unavailable Resources
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