Viewing Question: If I have to go to a nursing home, what happens to my structured settlement?

If I have to go to a nursing home, what happens to my structured settlement?

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I am retired and I have a structured settlement. This is my largest asset and a lot of my income. If I have to go to a nursing home, what will happen with the settlement and will I be eligible for Medicaid? No one has a straight answer anywhere.

1 Response

  1. Your question is a tricky one, and the truth is that without knowing a little more about your situation, I can’t really tell you exactly. You’ll have to find an experienced advisor for this one. Medicaid eligibility is complex and differs depending on where you live.

    There aren’t a set of uniform rules for eligibility, and you may or may not be depending on how your structured settlement is set up, and how big it is. The income from the structured settlement may be counted against Medicaid eligibility levels and may make you ineligible. You may be able to avoid this through a special needs trust, but you should be careful of lookbacks. There are also a lot of different types of structured settlements and not all are necessarily the same.

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