
To qualify for long-term Florida Medicaid benefits to cover nursing homes, in-home care, or care in some assisted living facilities, your assets must be less than the resource cap established by Medicaid. The simple solution would be to give everything to your kids, so you’d have no assets and you’d qualify for benefits. Of course, it doesn’t work that way. Rules penalize many property transfers made too close to the time someone wants to apply for Florida Medicaid. However, Medicaid planning attorneys know strategies to make the most of the opportunities allowed by the rules to help you conserve assets while establishing Medicaid eligibility. The key is to plan as much as possible. Look-Back Period To meet the asset limit for Florida Medicaid, you must have no more than $2,000 in “countable” assets. Your spouse is also limited in what they may own, even if they do not need care….