It seems as if the issue of the use of annuities in Medicaid planning may finally be put to rest. The Third Circuit Court of Appeals rules that Medicaid applicants’ short-term annuities are not resources even though the terms were less than the annuitants’ life expectancies. Zahner v. Secretary Pennsylvania Dept. of Human Services (3rd Cir., Nos. 14-1328, 14-1406, Sept. 2, 2015). This is a very positive ruling for applicants seeking to preserve assets when filing a Medicaid application is imminent. Contact elder law attorney Charles Bratton for more information if you are seeking to protect assets from potential long term care costs.
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