Quote:
Originally Posted by bassinbob  What is the name of your state (only U.S. law)? i am in North Carolina
i am on medicaid and SSI and i just found out that i am getting an inheritance of over $70,000. I understand i will be taken off both these programs untill i spend down to the maximum allowed which is $2,000. My question is am i able to spend the money on what i choose or am i restricted concerning the spending? |
You should be able to establish a trust for yourself that will protect your benefits. However, for that small an amount a lot of it is going to be eaten up by lawyers and your tax accountant. You would be restricted to not spending the money on your rent, food and utilities. Anything else, like medical needs, entertainment, your car costs would be OK. Hopefully the govt. doesn't come after you to recoup its costs for helping you out all these years.
08-17-2009, 04:38 PM
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