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How about converting deferred assets to a fixed annuity. *I know some medicaid rules will allow an income producing asset to be considered differently than a non income producing asset.
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It is my understanding {I had 10 yrs as a county ombudsman in CA} that an irrevocable annuity would not be considered when determining
liquid assets and assets that could become liquid, just as you can exclude the value of
most personal belongings,
one home, and
one car. All other items that can be sold are considered and Medi-Cal [CA's version of Medicaid] is only concerned if the value goes over 3k / 90k if placement in a SNF is needed.
Folks, this is intended as a safety net for those who do not have financial resources available to them for their medical / custodial care. I do not believe that any of us fall into that classification. Otherwise, we would not be FIRE'd ... we would be at work. Once you hit Medicare age
years from now, then you get 100 days SNF care per hospitalization ... renews after 60 days out. So there is relief there .... otherwise plan well. It can be a retirement breaker
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