What Are Unavailable Assets In Medicaid?
Gainesville elder and special needs attorney discusses Unavailable Assets in Medicaid.
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“Unavailable assets are trickier. Sometimes, you’ll have a property that is jointly owned. Let’s say that you own a condominium in the panhandle somewhere with your brother. Normally, that asset and the value of that asset, if it’s not your home, would be counted towards your accountable assets. However, if your brother is living there, and he refuses to sell the home because that would force him out of a home, Medicaid, under the right circumstances and documentation, will consider that asset not available to you, and they will not penalize you for your name being on the title to that property. You do need some planning to make sure that the correct documentation is provided to the Medicaid specialist so that that asset is not counted against you and disqualifies you.”