IS NOW IN EFFECT
On May 24th the Obama Administration approved Michigan’s Medicaid Recovery law that the state legislature passed on September 30, 2007. The law took effect Friday, July 1st.
The law affects any Michigan Medicaid Recipient’s probate estate, if the Recipient received aid on or after September 30, 2007. The law allows the state to recover any and all probate assets. The main asset is the home. Although there are a few exemptions, in general it affects everyone who is currently in a nursing home receiving Medicaid.
In addition, a bill was introduced in Michigan’s Senate on June 7th that will allow the state to recover even more, including assets that pass outside of the probate process, such as joint ownership on checking and savings accounts or payable on death designations; life estate, Lady Bird, joint tenancy, tenancy in common, and survivorship deeds; trusts and other arrangements. This proposed law also allows the acceleration of the Medicaid Recovery process before the death of the Medicaid Recipient.
Once the Medicaid Recipient is deceased there is no escaping Medicaid Recovery! The family must act before the Recipient’s death if they wish to minimize or eliminate the effect of Medicaid Recovery.
Let us help your family determine their options by scheduling a complementary Medicaid Recovery appointment that will cover both the current law and the proposed law. We may be able to help your family protect the home or a portion of the assets from Medicaid Recovery even if your loved one is already receiving Medicaid benefits.
Call 800-334-8496 extension 111, today to schedule your complementary appointment or to attend a complementary seminar…