Major Medicaid Overhaul Coming

It is expected that on February 1, 2006, President Bush will sign a bill drastically changing medicaid planning. Many things will change including:

1. 36 month look-back period extended to 60 months;
2. The start of the penalty period is no longer the date of the gift;
3. Recordkeeping requirements for gifts;
4. Homes over $500,000.00 in value will not be exempt.

Here is a good summary of the proposed changes.

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