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Forum
-> Household Management
-> Finances
amother
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 Fri, Nov 07 2014, 2:43 pm
So my IL want to transfer their assets to us so that in 5 years they will be eligible for Medicare.
From what I googled, it does not seem to be illegal (surprisingly).
I am still somewhat uncomfortable with the idea.
Thoughts?
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nyer1
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Fri, Nov 07 2014, 2:50 pm
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I've heard of this. Many ppl do it. Definitely ask an attorney. And probably a rav too...
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ROFL
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Fri, Nov 07 2014, 3:05 pm
Firstly they transfer assests to legally get Medicaid rather than Medicare. It can be done with the help of an elder law attorney.
Medicaid pays for nursing homes Medicare does not. That is why people transfer assests. Thee are legal loopholes that can make it happen.
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