Medicaid

The Medicaid coverage gap refers to the population of uninsured adults with incomes above Medicaid eligibility limits but below the federal poverty level (FPL), leaving them ineligible for both standard Medicaid and Affordable Care Act premium subsidies. The states with a Medicaid coverage gap are Alabama, Florida, Georgia, Kansas, Mississippi, South Carolina, Tennessee, Texas, Wisconsin, […]

How does a probate advance work? It is a cash advance on your expected inheritance which can be received within a few business days, rather than waiting months or years for the probate process to conclude. When you are the beneficiary of a probate estate, you can expect that the probate process to take several […]

Selling a house while on Medicaid is possible, but must be done carefully to prevent loss of Medicaid benefits. Selling a primary residence while on Medicaid may be necessary, but must be done carefully to protect the Medicaid recipient’s benefits. Medicaid considers the primary residence to be an exempt asset, but once the property is […]

Real estate transfers can be done without paying immediate federal taxes by utilizing strategic estate planning tools like trusts, lifetime gift tax exemptions, or inheritance laws. Utilizing a trust is one way to transfer property while avoiding any real estate transfer tax. When a grantor transfers their property to a revocable trust, there are no […]

Probate is the process in which a deceased person’s assets are transferred to their heirs under supervision of the Court. The process consists of verification of assets, a creditor claims period, and distribution of the assets to the heirs. In Missouri, probate is a supervised court proceeding to transfer assets to a deceased person’s heirs. […]

Life Estate Deeds and Irrevocable Trusts are two ways to transfer property to loved ones. Both are estate planning tools that can shield property from Medicaid Estate Recovery and bypass probate. However, there are important differences between the two. A life estate deed is a legal document that allows a property owner to reside in […]