Spending Down Assets in Michigan

Medicaid is an income and asset-based program that provides medical and long-term care for individuals who meet certain financial eligibility requirements. If an individual’s monthly income is too high or assets are too many, he or she may not be eligible for Medicaid.

The attorneys of Collens Estate Law, use their experience and creativity to come up with unique solutions to challenging elder law problems.

If you do not qualify for Medicaid and subsequent nursing home care because of excess assets or income, we may be able to help.

“Spending down” is the process of reducing the amount of assets an individual owns in order to qualify for Medicaid. Based on your unique financial circumstances, “spending down” your assets may help you meet Medicaid’s appropriate asset limit.

Call an Oakland County spend-down asset attorney from our firm at (248) 545-2500 to learn more about Medicaid eligibility.

Developing a Plan for Medicaid Eligibility

Many people think that by giving away enough money as gifts to family members they will automatically qualify for Medicaid. Nothing can be further from the truth. Such a transfer will likely be treated as a divestment. Such improper gifting of money or assets may lead to a period of Medicaid ineligibility. The rules that apply to Medicaid spend downs are complicated and must be closely observed.

Our attorneys can help you develop an effective plan for reducing assets that complies with Medicaid’s requirements. We have helped numerous families through this process and can help determine if spending down is a viable option for you.

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Contact a Wayne County Transfer of Assets Attorney

Contact Collens Estate Law, if you are interested in learning more about Medicaid qualification. From our offices in Huntington Woods, our lawyers represent clients in the Detroit metro area and throughout Michigan.

What Our Clients Are Saying

I recently had the pleasure of working with Howard Collens on family issues involving a trust. His expertise and attention to detail were truly impressive. He took the the time to understand my specific needs and provided valuable guidance through the entire process. I would highly recommend Howard and his firm. Thank you again Howard.
– Vickie D.
Howard Collens is very knowledgeable in the areas of probate, estate planning, and lder law. He is actively involved in the legal community and works hard to stay on the cutting edge of his practice areas. And, he is very kind – I really enjoy working with him.
– Katie L.
We’ve worked with Howard Collens twice now. First to create our trust and again to update the trust as our family situations changed. Both times were great experiences. Howard does a great job explaining what needs to be done and making recommendations when we had trouble making some decisions. We highly recommend Collens Estate Law
– Dave E.

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