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ASSET TRANSFER RULES
An institutionalized person (includes resident of a nursing home) or community waivers applicant or recipient who gives away assets or sells them for less than fair market value may not be eligible for Medicaid long-term care services. If the spouse of the institutionalized person or community waivers participant gives away assets or sells them for less than fair market value, the Medicaid eligibility of the institutionalized spouse may be affected. (This is known as divestment.) If you plan to transfer property, check with your county/city social or human services department to see if your Medicaid eligibility will be affected. |