Estate Planning - Keep the Home Again

The new expanded definition of "estate", which included jointly held property, retained life estates and interests in trusts for Medicaid recovery purposes was repealed on March 27th, 2012. Also, spousal refusal has been maintained.

These two (2) events are key to individuals maintaining real property while receiving Medicaid benefits. Nonetheless, careful planning is required and all are still advised to find a competent Medicaid planning attorney to facilitate their plan.

Now recovery for Medicaid purposes is again limited to those assets that would have passed by probate (will or intestacy), not testamentary substitutes like jointly owned property as was anticipated this year.