Assets Transferred to a Disabled Child

Assets Transferred to a Disabled Child

One of the areas often neglected in Medicaid is transferring funds to a disabled child. “Disabled” would be satisfied if the child were on S.S.I. or a social security disability.

Many “disabled” children can handle money depending the nature of the disability.

I had a matter in which a husband and a wife had a total of $750,000 and were both going into a nursing home. At the Medicaid meeting, I presented the plan to the County Board and the Board agreed that such a transfer would be exempt.

The nature of the child’s disability was psychological, but was not severe. Medicaid does not seem to inquire as to the disposition of funds by the disabled child. In this case, the disabled child (after both his parents got Medicaid) transferred the funds to his brother and the monies were protected and both parents immediately qualified for Medicaid.

Disclaimer: This article does not constitute legal advice and each person may have unique facts for which legal consultation may be necessary.


© June 2009, Post #42