Greetings, VBA Immigration Section subcribers. A friendly reminder to please Review the latest VAAP Newsletters for updates on immigration law, policy, and practice, and Join me and Becky Fu von Trapp , section co-chairs, for 1.0 MCLE at ...
A residence in a rev trust is a countable asset for Medicaid purposes. A transfer back to the grantor and a subsequent ELED to the trust coverts the residence from a countable asset to a non-countable asset just as an ELED to an individual would. The ...
Hi Jennifer, My guess is that it's for Medicaid planning purposes. The State does not count the value of the Medicaid applicant's home towards the applicant's "resource limit" as long as the home is not "in" a revocable trust (among other requirements). ...