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Submitted 56 days ago...

Duteous112

Duteous112

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Medicaid and annuities

Grandpa has alzheimers and is in the nursing home @ $6500/mo. Grandpa needs to apply for Medicaid. Grandma has annuity, Grandpa has an annuity, and they have an old joint annuity with joint ownership and Grandpa as the annuitant.
Will Grandma's annuity be counted as an assett or is it viewed similar to her IRA? Should Grandpa's annuity be annuitized to make the dollars go further? Should Grandpa be removed as a joint owner on the joint annuity? Thank you for your help!

 
 
 
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