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Reverse Mortgages are a common asset/liability held by many Missouri seniors.  Under a reverse mortgage, a senior is allowed to borrow funds from a reverse mortgage bank, with the senior’s home being used as collateral for the loan, often allowing the senior to have the necessary funds to remain in the home.  The loan becomes […]

Non-exempt real property owned by a participant, or his/her spouse, may to be excluded as an available resource. To exclude the property, the applicant must show a good faith effort to sell  the property at fair market value (FMV) during the months that they are requesting MO HealthNet coverage. In order to show a Good […]

The Spousal Share is the greater of the current Minimum Spousal Share ($25,284) or one half the couple’s combined non-exempt assets not to exceed the current Maximum Spousal Share ($126,420). In order to determine the Spousal Share, determine the equity value of all the non-exempt assets owned by the Institutionalized and Community Spouse at the […]

A custodial account is an account for the benefit of a minor child and managed by a parent or another designated custodian. The custodial account is established under Sections 404.005 to 404.094 Revised Statutes of Missouri, the Missouri Transfers to Minors Law. The custodian normally controls the account until the child attains the age of […]

How does Medicaid treat the Homestead Exemption and/or the Medicaid applicant’s primary residence? When senior enters a nursing home to receive care services, he or she often leaves real property owned by that person, and that home served as the A primary residence, defined by Medicaid as real property that is furnishing shelter to the […]

Oftentimes, a Medicaid recipient who otherwise has achieved Medicaid eligibility may receive assets that can affect their ability to receive Medicaid benefits. If the Medicaid recipient (or a Medicaid applicant) is in a nursing home and has property which was willed to him or to his spouse by a family member, loved one or other […]