Salem, MA asked in Elder Law for Massachusetts

Q: Annuity

my mother-in-law has an annuity that the state considers an asset. She's in assisted living. Is there a way to transfer her resources to protect some of this money

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1 Lawyer Answer
Lillian J. LaRosa
Lillian J. LaRosa
Answered
  • Woburn, MA
  • Licensed in Massachusetts

A: The usual answer would be that it is too late to do so if she will be in need of nursing home care within 5 years These are MassHealth/Medicaid issues which have complexity and you should discuss the entire set of facts involved with an Elder law practitioner who specializes in that particular topic because Elder law is a broad area.

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