Q: Is a 529 plan with child as owner and grandpa as custodian a countable asset for Medicaid,also are grandpa's contributio
s countable in the 5 year lookback period.
A: Generally i would say that this would be a countable asset of the grandparent. However, there may be some ways to transfer it to the child and argue to DSS that this is valid. However, that may not always work. More research would need to be done on the situation to give a better answer. For that reason i recommend contacting a local attorney who focuses on long term care/Medicaid planning to get some more information from you to fully assess the situation with all facts and circumstances in mind.
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