Is an irrevocable trust the only way you can protect your assets from Medicaid? Is their five year rule? Can you also protect your assets from Medicaid by taking cash out of the ATM and putting it in a safe that keep it in the house of your adult children. That way it would appear that you have spend it. What if the parent lives in the house that has been always owned by their adult children, and they always made the mortgage a payment.
You need to hire an attorney near you to help you with legal ways to qualify for assistance. There is no attorney client privilege on open questions posted here. Asking about committing fraud is a bad idea.
Hope this helps. If you think this post was helpful, please check the answer was a good answer tab below. Thanks. Mr. Geffen is licensed to practice law throughout the state of Texas with an office in Dallas. He is authorized to handle IRS matters throughout the United States and is licensed to practice in US Tax Court as well as The Court of Claims. This answer is provided as a public service and as a general response to a general question, it is not meant, and should not be relied upon as specific legal advice, nor does it create an attorney-client relationship.
There are several techniques that elder law attorneys may use when engaged in Medicaid planning--it all depends on the facts and circumstances of each particular situation. You should get a consult. No attorney in good conscience will countenance perpetrating a fraud by hiding assets.
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