QUESTION
How do you protect assets of someone living in a care facility?
Asked on Apr 26th, 2014 on Trusts and Estates - California
More details to this question:
Individual is living in care facility. Spouse is deceased. Medi-cal covers most of monthly cost with the balance paid by patient. The understanding is when patient passes away medi-cal requires reimbursement from deceased's trust? Information was received recently that if patient's name is removed from everything, then this will protect the remaining assets. Please advise. Thank you!
1 ANSWER
2 Awards
The first question I would have is whether the individual still has the mental competency to transfer their property? If they do then there are steps that can be taken to protect the property. One thing to consider is that their is a "claw back" period (I believe it is three years) where medi-cal can go after the property that was transferred, so if the individual passes away within that time the transfers might be set aside.
Thanks,
Jon
Answered on Apr 26th, 2014 at 7:06 PM