Month: June 2015

June 16, 2015 admin

Can I Transfer Mom’s Life Insurance to Help Her Qualify for Medicaid? Q: The nursing home has initiated a Medicaid application for my mother but I have not yet been contacted. Her life insurance policy’s cash value exceeds Medicaid’s $1,500 resource limit. Can I still transfer ownership of the policy? A: The general rule is…

June 16, 2015 admin

People often ask me about Pay on Death (POD) or Transfer on Death (Transfer on Death) accounts (or they tell me of them after the fact which is worse). These are accounts which pay to a designated beneficiary outside of the probate process upon the presentation of a death certificate to the custodian.  Probate is…