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Is an irrevocable trust a safe way to protect funds from being gobbled up by medicare?
I think you mean medicaid. Medicare is the program for which seniors (and some others) are eligible. Medicaid is the program for those of limited means. The iirevocable trust works if the patient is not a beneficiary of the trust and conveyed his / her assets to the trust at least five years ago. If the conveyance was within five years, then the trust assets will be counted as the patient's assets for purposes of qualifying for medicaid.
What else can I help you with?
Can a policyowner change beneficiaries if it is irrevocable?
No. In Canada, the irrevocable beneficiary must agree to any beneficiary change being requested by the owner, should the change being requested, change the entitlement of the irrevocable beneficiaries.
Are the gifts that you are calling irrevocable?
Yes, the gifts that are being referred to are permanent and cannot be taken back.
Will being behind in taxes prevent you from getting medicare?
no
How does being a trustee on a parent's irrevocable trust affect Chapter 7?
It should have any impact unless you are a beneficiary of the trust.
Can a bank forclouse on a house with a irrevocable living trust?
The bank does not care who holds the mortgage. If the loan is not being paid, it can be foreclosed on.
How do you get a medical card being under 18?
We suggest that you phone Medicare
What is Medicare Supplemental Insurance?
Medicare supplemental insurance is insurance that helps cover some of the healthcare cost that the original medicare doesn't cover. This type of insurance also covers certain policies that the original medicare itself doesn't cover such as being ill when outside of the US.
Does someone on medicaid automatically qualify for medicare?
In a word, no. Medicare eligibility is based on being at least 65 years old and having at least 40 quarters of "covered" employment, or being the spouse of someone with 40 quarters.
What is the current medicare tax?
Currently, there is a 1.45% tax on income which is matched by your employer. So in total, there is 2.9% being paid into Medicare. If you have more questions you can ask your employer.
Where can you get health insurance in Maryland if you are a diabetic and have rheumatoid arthritis and your husband and you are on Medicare but you missed the enrollment period and your cobra is endin?
I don't quite understand your question, but you might try hippa Are you on medicare or not? Are you over 65 or did you qualify for medicare as being disabled?
What is a good word to describe things changing and never being the same again?
Irreversibility. Also, something which, once done, cannot be changed, is irrevocable.
Does medicare cover pregnancy expenses if infant is being given up for adoption?
Medicare is for individuals over the age of 65.Are you asking about Medicaid which is state insurance for low-income individuals?
