QUESTION
Can a nursing home make you dissolve your IRA account to pay for their services?
Asked on Nov 05th, 2011 on Elder Law - New York
1 ANSWER
IRA's are generally protected from judgements. However a nursing home can try to evict a resident for non-payment. The person may be Medicaid eligible if the IRA is the only asset. IRA's are considered exempt for purposes of Medicaid if they are in "pay-out" status. In that case only the income is counted.
Answered on Nov 08th, 2011 at 10:58 PM