Inheritances and Medicaid: Plan Ahead to Avoid Costly Mistakes
If you or a loved one receives Medicaid benefits, inheriting money or property can put those benefits at risk. Without careful planning, an inheritance can trigger penalties that reduce or even eliminate Medicaid coverage, costing you thousands.
How Inheritances Affect Medicaid Benefits
When someone on Medicaid inherits assets, Medicaid may count those assets as available resources, which can cause loss of eligibility. Many people don’t realize what “handling an inheritance carefully” really means—and they often make costly mistakes without expert guidance.
Why You Should Call an Experienced Elder Law Attorney
The best way to protect Medicaid benefits after an inheritance is to contact an experienced elder law attorney — ideally before any inheritance becomes an issue. The sooner you reach out, the more assets we can help protect.
Recently, an Ohio attorney lost his license after advising a client to “disclaim” or “renounce” an inheritance to protect Medicaid benefits. This advice works in tax law but fails in Medicaid law. Medicaid counts the inheritance whether the beneficiary keeps it or passes it on. This mistake can lead to significant penalties and lost benefits.
Proven Strategies to Protect Medicaid Benefits
Instead of disclaiming the entire inheritance, we help you split the assets between the Medicaid recipient and family members like children. This approach reduces the countable inheritance and preserves Medicaid eligibility.
Even better, if the person leaving the inheritance consults us early, we can help structure their estate to protect their legacy and safeguard Medicaid benefits for their heirs.
Why Choose Us for Medicaid and Elder Law Planning?
Elder law requires specialized knowledge. We know the rules and have helped many families protect their assets and benefits. Don’t wait until an inheritance causes problems—call us now.
Contact us at (207) 848-5600 for a free consultation and expert guidance on Medicaid and inheritances.
