doma, medicaid, and asset transfers
DESCRIPTION
With the DOMA update, there's a lot to take in when it comes to asset transfer rules, benefits, estate planning and, of course, Medicaid. Let's examine them in this presentation.TRANSCRIPT
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DOMA, MEDICAID & ASSET TRANSFER RULES
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THE SUPREME COURT RULED GAY MARRIAGES
ARE LEGAL
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That, along with the new healthcare laws that are soon to be in full effect,
there's a lot to take in when it comes to asset transfer rules, benefits, estate planning and, of course, Medicaid
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That, along with the new healthcare laws that are soon to be in full effect,
there's a lot to take in when it comes to asset transfer rules, benefits, estate planning and, of course, Medicaid
![Page 5: DOMA, Medicaid, and Asset Transfers](https://reader036.vdocuments.us/reader036/viewer/2022062404/554c3408b4c90513198b55bb/html5/thumbnails/5.jpg)
The Social Security Administration (SSA) and the Veteran's Administration (VA) have begun issuing guidance for same-sex marriages
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Spouses of same sex military veterans may also collect veteran's spousal
benefits
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There remain some INCONSISTENCIES
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Claims are still being held by Social Security offices for some who were legally married, but who lived in states where their
marriages weren't recognized
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As a result, those claims are in a
STATE OF SUSPENSION
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The Veteran's Administration is now providing benefits to spouses in same sex marriages, as well
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Department of Health and Human Services announced it too would allow states to
extend the long term care protections to those in same sex marriages and
partnerships
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A nursing home resident must spend down to $2,000 - depending on which state the resident resides
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The spouse not in the nursing home, referred to as a “community spouse”
is entitled to keep $110,000
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For couples not married, the asset limitations aren't applicable
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The partner not in the nursing home will keep all of his or her assets with no fears of jeopardizing a partner's medical treatment
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Learn More About DOMA, Medicaid & Asset Transfer Rules
in Vermont