Don DrakeAvoiding the Medicaid Penalty
Avoiding the Medicaid Penalty When Applying for Long-Term Care Assistance
by Don Drake, Connelly Law Offices, Ltd.
Elder law attorneys help their clients who are facing long-term care structure their financial resources and prepare documentation to ensure the greatest possibility of being accepted into the Medicaid program. They create trusts, manage asset transfers, and convert countable assets into exempt assets to ensure eligibility and preserve a family’s resources. But what is a "Medicaid penalty"?