- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Just bought 40 acres
Posted on 10/30/13 at 10:09 am to Ace Midnight
Posted on 10/30/13 at 10:09 am to Ace Midnight
quote:
This takes the whole - "Medicaid makes you sell your home" situation out, if done at least 5 years before Medicaid is needed.
Which is something I did a bit over a year ago due to my health. Now if only I could find a way around the tax laws to give all my moneys that are in 401ks.
Then I would be able to fall under Medicaid in a couple years.
1
Posted on 10/30/13 at 12:40 pm to fishfighter
quote:
Which is something I did a bit over a year ago due to my health. Now if only I could find a way around the tax laws to give all my moneys that are in 401ks.
Fish - you might want to talk to an estate planner - your situation is a little different as you are not quite as old as people they deal with, but there may be some options to make an irrevocable donation of those assets to a trust that you still control, and reserve the income from the trust - depending on the size of the estate, that can allow you to dial up or down the investment package, and generate income below the Medicaid threshold - you still have to wait out the 5 years and there might be tax consequences, regardless, but a good estate planner will at least have some options for you.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News