ProvenLaw, PLLC

If you gift an asset within five years of applying for Medicaid, that transfer triggers a penalty period calculated using what is called a penalty divisor.

In Utah, every $7,344 given away results in a one-month penalty during which Medicaid will not cover long-term care costs.

Call ProvenLaw to understand how gifting rules apply to your situation and how to plan ahead to avoid unnecessary penalties.

Book a free consultation at provenlaw.com or call 435-900-7143.

Beneficiary designations need to be reviewed regularly because life changes fast, and it is surprisingly common to find an ex-spouse, a deceased family member, or no beneficiary listed at all.

Checking your designations periodically ensures they still reflect your actual wishes and will not create confusion or conflict for your loved ones.

Contact ProvenLaw to schedule a review of your beneficiary designations and make sure everything is up to date.

Book a free consultation at provenlaw.com or call 435-900-7143.