Asset & Property Transfers

Determining if Medicaid Transfers are Right for You

Eligibility for Medicaid is determined based upon income, assets, age and health. Accordingly, some people who are applying for Medicaid may consider what consequences transferring property may have on their ability to qualify for benefits. Generally, you cannot transfer assets for the purpose of qualifying for Medicaid. There are some exceptions to this rule, however, so it is beneficial to work with an attorney who can review your particular situation and determine your ability to make transfers without this resulting in your disqualification to receive benefits. This is an essential part of preserving your life savings and your ability to qualify for Medicaid.

The legal team at Melnik Law Group, PLLC can talk to you about what assets or property you are interested in transferring and can determine what you can do in this situation. By approaching Medicaid transfers from a legal standpoint, you can help ensure that you do not suffer from penalties for an unauthorized transfer. A lawyer can talk to you about your options in establishing a Medicaid asset protection trust as opposed to making gifts of your assets. Our skilled legal team represents clients throughout Manhattan, Brooklyn and all of New York City.

Individualized Representation to Fit Your Needs

The Medicaid Agency may look back at financial transactions for 60 months (5 years) prior to your Medicaid application. Reviewing withdrawals, payments and deposits will enable the agency to determine whether any transfers you made were lawful or if you will be subjected to a penalty period of ineligibility for Medicaid coverage. To learn more about how we can help you with asset protection and property transfers that will not affect your eligibility for Medicaid, contact attorney Melnik at our firm today.